Boston condo hunting in the 2025 Spring Market
Boston Condos for Sale and Apartments for Rent
Spring is in full swing, and the Boston condo for sale market is picking up along with it. And if you’ve been wondering whether now is the right time to buy or sell, here’s the inside scoop on why this spring may be a great time to make your move.
1. There Are More Downtown Boston Condos for Sale
After a long stretch of tight inventory, the number of downtown Boston condos for sale is finally improving. According to recent national data from Realtor.com, active listings are up 27.5% compared to this time last year.
Look at the graph below and follow the green line for 2025. You can see, even though inventory levels still haven’t returned to pre-pandemic norms (shown in gray), that number is higher than it has been going into the spring market over the past few years (see graph below):
Buyers: This means you have more choices, and you can be more selective.
Back Bay Condo Sellers: With more condominiums available than in recent years, you’re more likely to find what you’re looking for when you move. And knowing that inventory is still below more normal levels means there will be demand for your home when you sell it, too.
2. Boston Condo for Sale Price Growth Is Moderating
As Boston Seaport condo for sale inventory grows, the pace of home price growth is slowing down – and that will continue into the spring market. This is because prices are driven by supply and demand. When there are more homes for sale, buyers have more options, so there’s less competition for each house. Rising supply and less buyer competition causes price growth to slow, but it should still remain positive in most markets. As Freddie Mac says:
“In 2025, we expect the pace of house price appreciation to moderate from the levels seen in 2024, while still maintaining a positive trajectory.”
And while Boston Seaport condos prices aren’t dropping at the national level, every market is different. Some areas are seeing stronger price growth, while others are cooling off or even seeing some price declines.
Seaport Condo Buyers: The slower pace of growth means prices aren’t rising as quickly as before – and that’s a relief. Any home you buy now is likely to appreciate in value over time, helping you build equity.
Seaport Condo Sellers: While prices are still rising, you might need to adjust your expectations. Overpricing your house in a more balanced market could mean it takes longer to sell. Pricing your house competitively is going to be key to attracting offers.
3. Mortgage Rates Are Stabilizing
One of the biggest hurdles for buyers over the past couple of years has been high, volatile mortgage rates. But there’s some good news – overall, they’ve stabilized in recent weeks – and have even declined a bit since the beginning of this year. And while that decrease hasn’t been a big drop, stabilizing mortgage rates has helped make buying a home a bit more predictable. According to Selma Hepp, Chief Economist at CoreLogic:
“With the spring homebuying season upon us, the recent improvements in mortgage rates may help invite homebuyers back into the market.”
Buyers: When mortgage rates are more stable, it’s easier to plan ahead because you have a better idea of what your future payment might be. But remember, rates will continue to be volatile. So, lean on your agent and your lender to make sure you know what the latest mortgage rate means for you.
Sellers: Slightly lower rates that are starting to stabilize are encouraging more buyers to move forward with their plans. That’s good for demand when you’re planning to sell your house.
4. More Buyers Are Returning
With more inventory, slowing price growth, and stabilizing mortgage rates, buyers are gaining confidence and coming back into the market. Demand is picking up, and data from the Mortgage Bankers Association (MBA) shows an increase in mortgage applications compared to the start of the year (see graph below):
Buyers: Acting sooner rather than later could be a smart move before your competition heats up even more.
Sellers: This is great news for you – more buyers mean a better chance of selling your house quickly.
Bottom Line
Do you have questions about what the spring market means for you? Connect with a local real estate agent and talk about how to craft your plan this season.
With more homes for sale, slowing price growth, and stabilizing mortgage rates, how will this impact your decision to buy or sell this spring?
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Boston condo hunting in the 2025 Spring Market
The Boston condo for sale spring market is looming, you’re on board with current interest rates and feeling like it may be time for a change of scenery. Maybe you need more space or just want to lay down roots in a different neighborhood. Where do you begin with it all?
I’ve been selling real estate in the city since 2000, and have represented many successful Back Bay and Beacon Hill condo buyers. Here’s what I typically advise:
Be completely preapproved for a loan. You may be in a competitive offer situation, with buyers waiving contingencies to stand out. Make sure you’ve submitted all required documents to your lender, and consult with him or her to see what latitude you may have when it comes to, for example, waiving a loan or appraisal contingency.
Know what you can—and can’t—afford. Study comparable Boston condo sales with your agent to figure out where your budget will take you. For example, if you’re seeking a two-bedroom condo for sale in Boston Beacon Hill, know the average price for that type of home. If your purchasing power is nowhere near that, it might be a good idea to expand your geographical area and not spin wheels. Review comparable sales you could’ve seen yourself buying, and make sure your budget is in line with what you like.
Don’t get sucked into list price lures. The list-low, sell-for-more pattern has basically been a mainstay in the Boston suburbs. If you’re preapproved for up to $1.5M, look at Boston Seaport condos that are listed for lower. (How much lower will depend on neighborhood and other factors.) Focus more on the realistic value range of a given property.
Decide what your true purchase price max is. You may end up in a counter offer situation, faced with boosting your purchase price in order to get the ideal condominium. It’s a sound idea to know how far you can go so you can negotiate accurately. How will that additional $25,000 or $50,000 affect your mortgage payments? Talk it over with your lender to avoid frantic phone calls when you’re up against a counter deadline.
Be willing to make trade-offs and compromises. Very few people find the “perfect” home. There are pros and cons, and you have to figure out what you can live with. For example, you need parking and the condo you like comes with tandem parking. Not ideal, but workable when you consider you’ll also be getting in-unit laundry, low condo dues and outdoor space. Come to terms with the fact that San Francisco properties are not cookie cutter, have their quirks and demand careful consideration when it comes to the details.
Sit out the offer situations where you probably don’t have a chance. If your agent is telling you that the property you love has 30 disclosure packages out, it may be best to sit that one out unless you have the wherewithal to bid big and waive all contingencies. There’s nothing like losing out on multiple properties to discourage your home-buying efforts. Trust your agent to guide you toward the offer situations where you’ll have a chance.
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Boston condo hunting in the 2024 Spring Market
In spite of higher rates, the spring selling season has delivered, though the second half of 2023 is TBD. Thanks Steve Harney and Ryan Lundquist for the graphics!
Boston condo hunting can often feel like one of those reality TV dating shows. There’s the first meeting, where you and a dozen or so other contestants circle the object of your desire. You fall in love, maybe make a proposal, and then more likely than not … you get rejected.
