Moving forward into the Fall 2019, there’s a general expectation that Beacon Hill condo for sale inventory will increase, as it does every year when the Fall/Winter months are approaching. Rising Beacon Hill condominium prices have brought most home sellers in a very liquid position The average price for a Beacon Hill condo for sale is now $1,449,500 The average sales price of condominiums that sold in the Beacon Hill in the last 30 days was $1,150,000
Many people appear to be viewing Beacon Hill condos for sale as interest rates are at a near 3 year low. Fortunately, the Chairman of the Federal Reserve, will not be raising rates for the remainder of 2019. But lest we get too relaxed about the future of mortgage financing, there are also rumors that we may be heading into a Recession in 2020.
Fortunately the rumors about recession are just that… still rumors. With the Beacon Hill condo market still strong, the out;look for the remaining 2019 still looks bright. Some private banks can afford to loosen lending standards and again get more creative with mortgage financing. Some examples of this are 90% loan-to-value conventional mortgages with Private Mortgage Insurance (PMI) and the return of secondary financing which is allowing some borrowers to put as little as 5% down payment on conventional loans.
Boston Beacon Hill Condos for Sale
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