Back Bay condo broker: it’s time to Party

Boston Condos for Sale

Back Bay condo broker: it’s time to Party.

A Back Bay condo agent tweeted (X) Minions dancing with the tagline: “It’s time to PARTYYYYYY!” shortly after Federal Reserve Chairman Jerome Powell announced that the Fed was keeping interest rates unchanged, and signaled it would make three 0.25 percentage point rate cuts next year. Back Bay condo broker it’s time to Party

Back Bay Condos for Sale | Ford Realty Inc.

“We are back baby. LFG!!!!!!” reads another tweet from Boston Seaport condo broker, who focuses on high-rise condo sales and investment land sales. (LFG stands for “let’s f**king go.”)

The sentiment changed almost overnight.

Boston high rise condo construction

The Fed news could help “top tier” Boston condo developers get lower rates on construction costs.

More than anything, the expected cuts are a sign of improving — not worsening — conditions. That could result in a boost of sales and financing in the second half of next year, brokers and attorneys say.

Boston Seaport condos – Ford Realty Inc

Boston condos for sale and the bottom line

The Boston condo for sale market has been somewhat insulated from headwinds compared to other U.S. markets since the Fed began hiking rates in the spring of 2022, but Boston condo for sale volume is down.

The good news is that Boston condo for sale brokers are giddy over the Fed’s announcement. I’m also very excited about the Boston condo for sale market for 2024.