Boston condo for sale market – A waiting game. Here’s why

Boston Condos for Sale and Apartments for Rent

Boston condo for sale market – A waiting game. Here’s why

It is very likely that the the Boston condo for sale market will turn sluggish this year. Yes, I know we got a reprieve this week with mortgage rates and you might be able to get into the low-6% range by paying a point or two. But it won’t change the course that the Boston condo for sale market is heading.

The inventory of Boston condos for sale is increasing. But Boston condo sales aren’t.

By summer there will be a glut of Boston condos for sale with 90 days plus on the market

Boston condo sellers will be motivated to lower their price substantially to get out, and/or buyers will lowball them substantially. Either way, the glut will keep growing because Boston condo sellers and agents are totally unprepared for such conditions and sales will falter.

The older realtors have to been inching closer to retirement every day (like me), and even if they still have a box of business cards, do they have the chops for a slow market? It’s been 25+ years since we’ve had anything besides a roaring seller’s market – does anyone remember what to do?

I doubt it.

It will cause the Big Pause.

Sellers aren’t going to give it away, so they will wait.

Agents won’t know what to do, so they will wait.

Buyers are comfortable on the fence, so they will wait.