Lets inspect the Boston condo inventory numbers
Boston Condos for Sale and Apartments for Rent
Lets inspect the Boston condo inventory numbers
Boston tops list of markets with fewest home listings
Boston has the fewest home condos for sale nationally, in a market steeped with competition driven by low inventory.
A new report from Zillow found Boston is the No. 1 market for year-over-year declines in housing supply. Boston property listings are down 17.2% from 2023, followed by Pittsburgh, which was down 14.2%, and Washington, D.C., which was down 13.6%, according to Zillow’s March Housing Market Report.
Nationally in March, new listings rose 15.5% from February and were up 3.7% from 2023.
New listings were down 25.4% from pre-pandemic levels
Zillow’s report found that depending on their locations, homebuyers are encountering very different scenarios when it comes to competition in the current market – all driven by the same factor: inventory.
And that’s not all.
Typical U.S. home values are up 42.4% compared to pre-pandemic levels, as is the typical monthly mortgage payment, which is up nearly 108%, more than double pre-pandemic payments. Annually, the typical mortgage payment is up 7.1% from last year.
Boston had one of the highest annual home-price gains in March.
Zillow found home values were up from last year in 47 of the 50 largest metros. Annual price gains were highest in Hartford, Connecticut (12.7%), San Diego (11.8%), San Jose, California (11.2%), Boston (9.5%) and Los Angeles (9.3%).
******************************************************************
Lets inspect the Boston condo inventory numbers
Boston Condos for Sale and Apartments for Rent
Boston condo inventory compared to population
_______________________________________________________________________________________________
Lets inspect the Boston condo inventory numbers
The number of homes available to buyers climbed 18.7% in June, the sharpest year-over-year increase in the history of the Realtor.com Monthly Housing Trends Report.
While active listings increased, so did prices. The median home price in the report increased 16.9% to $450,000, compared to June 2021.
Boston Condo for Sale Inventory Lacking
In the Boston-Cambridge-Newton region, the median listing price increased 8.6% year over year to $759,000, while active listings increased by just 0.4%, well behind the national trend.
Compared to June 2021, active inventory increased in 40 of the 50 largest U.S. metros, led by Austin, Texas (+144.5%), Phoenix (+113.2%) and Raleigh, N.C. (+111.7%).
“While we anticipate that more inventory will eventually cool the feverish pace of competition, the typical buyer has yet to see meaningful relief from quickly selling homes…”
Updated: Boston Real Estate Blog 2024
Click to View Google Reviews
_______________________________________________________________________________________________
Lets inspect the Boston condo inventory numbers
Today, I would like to have a blog post regarding Boston condo inventory. My purpose, to find out if certain price range condos have a shortage of inventory or a glut. But first, we need to set the ground rules. How would you like to see the breakdown of the inventory. For example should I start $200,000 – $300,000 and move up to $301,000 – $400,000 ect…
Second option could be to group the price inventory on a larger spread. For example:
$300,000 – Less
$301, 000 – $600,000
etc….
Looking for ideas?
If you would like to see today’s new Boston condo inventory click on our new and improved Boston real estate web site
