Are we in a Boston condo buyers or sellers market today
Boston Condos for Sale and Apartments for Rent
Are we in a Boston condo buyers or sellers market today
Wondering if it still makes sense to sell your Boston Beacon Hill condo right now? The short answer is, yes. And if you look at the current number of homes for sale, you’ll see two reasons why.
An article from Calculated Risk shows there are 15.6% more homes for sale now compared to the same week last year. That tells us inventory has grown. But going back to 2019, the last normal year in the housing market, there are nearly 40% fewer homes available now:
Here’s a breakdown of how this benefits you when you sell.
1. You Have More Options for Your Boston Beacon Hill Condo Move
Are you thinking about selling Boston Beacon Hill condos because your current house is too big, too small, or because your needs have changed? If so, the year-over-year growth gives you more options for your home search. That means it may be less of a challenge to find what you’re looking for.
So, if you were holding off on selling you’re Boston Beacon Hill condo because you were worried you weren’t going to find a home you like, this may be just the good news you needed. Partnering with a local real estate professional can help you make sure you’re up to date on the homes available in your area.
2. You Still Won’t Have Much Competition When You Sell Your Boston Beacon Hill Condo
But to put that into perspective, even though there are more homes for sale now, there still aren’t as many as there’d be in a normal year. Remember, the data from Calculated Risk shows we’re down nearly 40% compared to 2019. And that large a deficit won’t be solved overnight. As a recent article from Realtor.com explains:
“. . . the number of homes for sale and new listing activity continues to improve compared to last year. However the inventory of homes for sale still has a long journey back to pre-pandemic levels.”
For you, that means if you work with an agent to price your house right, it should still get a lot of attention from eager buyers and could sell fast.
Boston Condos for Sale Bottom Line
If you’re a homeowner looking to sell, now’s a good time. You’ll have more options when buying your next home, and there’s still not a ton of competition from other sellers. If you’re ready to move, let’s connect to get the ball rolling.
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Are we in a Boston condo buyers or sellers market today
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Are we in a Boston condo buyers or sellers market today
Asked another way, “Is it a good time to buy a home in Boston?” The answer, Yah.. always. Forget about interest rates, forget about pending recession, forget about all that. For all practical purposes Boston is as close to a buyer’s market as you’re going to get, and if you’ve been on the fence about buying, get off the fence and buy.
If you want to dive into details about timing, rates, inventory, all that, you’re gonna have to give me a shout, but the long and short of it is this…Boston, at the moment, is in a state of limbo…market could go up, it could go down (more), so my advice (if you’re not looking for a quick get rich flip) is to absolutely buy if you can and want to.
I see you thinking…you want to time your purchase at the very bottom. You want rates to drop, AND prices to drop, and then, only then, you’ll pull the trigger. Good luck with that. Something else will f*ck that plan up. I’ve seen it many times.
Rates go up, they go down. Prices go up, they go down, and timing your purchase to coincide with the exact bottom takes exactly one thing…luck.
Anecdotally, other buyers out there are waking up, open house traffic is increasing, offers are coming in, so you may have actually already missed the bottom. So get off the fence and act.
Is it a good time to sell? We’ll get into that with an upcoming Boston real estate blog post…
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