Downtown Boston Condos for Sale: List for 2%

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Downtown Boston Condos for Sale: List for 2%

A rise in new listings is giving buyer’s in the new year more homes to choose from, according to a new report from Redfin.

During the four weeks ended Dec. 29, new listings rose 8% from last year, and the total number of available homes for sale rose 10%.

Although supply increased toward the end of the year, pending home sales saw a slight decline, as mortgage rates stayed close to 7%.

During the four weeks ended Dec. 29, year-over-year pending home sales fell 1.1%, while the median mortgage payment, at a 6.91% mortgage rate, was $2,515, an 8.1% change year over year.

Mortgage applications also fell, down 13% from two weeks prior and down 17% from the previous year.

Meanwhile the median asking price rose 5.6% to $373,500, while the median-sale price increased 6.4% to $383,750, marking the biggest increase since October 2022.

According to Redfin’s Homebuyer Demand Index, requests for tours and services from Redfin agents remained unchanged from November but were down just 1% from 2023.