On the bubble: Why Boston-area housing prices keep going up

BOSTON — Real estate agents in Massachusetts say they're seeing more million-dollar homes on the market than ever before. But they also say now could be the time to buy.

A three-bed, one-bathroom home in Arlington recently sold for nearly $75,000 dollars over the asking price. In four days, they had eight different offers.

Realtor Bill Copithorne says with prices only going up, you won't win by waiting.

“If someone had that idea last year, they're probably not even going to be in the market this year,” Copithorne said.

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Archana Dubey bought a home in Lexington five years ago, and says she knows just how stressful looking can be.

“Very much relieved, because I know friends who are still looking to buy a home in Lexington and it's getting crazier,” Dubey told Boston 25 News.

In Norfolk County this weekend, 16 homes sold for more than a million dollars. And since May 25, we found 68 properties which sold for more than a million dollars.

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Which brings us to the bubble. Is it going to burst?

Copithorne says in his 40 years of working in real estate, all signs point to no. During a recent real estate conference he attended, experts addressed that very question.

“They feel as though at least Boston is isolated from any type of bubble given our access to schools, hospitals and high-tech industries,” he explained.

And for those who are looking to buy within a budget? Copithorne says there are plenty of affordable homes, they just may not be in the exact area you're hoping for.

If you are looking to buy, experts say: 1) be flexible; 2) make sure your finances are in order; and 3) be aggressive.

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