Today’s Boston real estate market insights

Boston Condos for Sale and Apartments for Rent

Today’s Boston real estate market insights

Nationally Home sales in the 52 largest U.S. markets fell 13.3% between August and September in keeping with historical trends, Accordng to a National Housing Report. Year over year, closed transactions were down 3.1%.

Tampa, Florida; Omaha; and Miami had the three greatest year-over-year declines in the pace of sales, respectively.

Meanwhile, the median sales price for all metros was $429,000, down 1.4% from August but up 4.6% from September 2023. Hartford, Connecticut; Cleveland; and Providence, R.I., had the three greatest annual increases.

New listings were down 0.3% month over month but up 9.7% year over year. Phoenix and Las Vegas had the largest increases in new listings.

The number of homes for sale nationally was up 6.4% month over month and 33.6% year over year. Manchester, N.H; Seattle; and Trenton, N.J., had the lowest inventory on a months’ supply basis.

Bottom Line

While we’re seeing a slight cooling in sales in the Boston Metro area, the good news, Ford Realty is encouraged that condominium inventory has been steadily increasing, giving buyers more options in the Boston condo for sale market.

The consistency in sales prices and the fact that buyers are still paying over 95% of asking price demonstrates the resiliency in today’s Boston condo market.

More insights on the Boston condo market tomorrow.