Welcome to another exciting year for the Boston condo market. If you’re reading this, there’s a good chance you’re interested in buying or selling a Boston condo. So it’s important that you understand what to expect in 2018.

In 2017, we experienced the return of extreme multiple-offer situations, consistently low inventory and more cash condo buyers. New Boston condo construction began blanketing the city and many new developments are in the pipeline.

So what’s on tap for the new year?

Here are my thoughts:

1. We’ll be seeing a more balanced market. In 2017 was a hot market for the Boston Proper area, especially in the Seaport District and South Boston. Many South Boston sellers were flabbergasted at the prices they were being offered for their three deckers. But with the holidays cooling things down and buyers gaining some perspective, I’m predicting will have fewer over asking asking price offers in 2018. With many experts seeing higher mortgage rates coming are way, and more supply created by new construction will keep things even.

2.  Boston Condo Inventory will hit the market in February. “After the Super Bowl” has traditionally been the time frame that has ushered in new Boston condo inventory. I predict that February 2018 will be no different. I’m already seeing Boston condos that were off the market for the holidays being  promoted again. My Boston real estate agents are holding new listings back until after the 2018 Super Bowl.  (Go Pats!)

3. Boston condo values will experience modest increases. Boston condo demand continue, especially in popular, central neighborhoods near public transportation, retail areas and services. this would include my neighborhood Beacon Hill but also Back Bay,  Seaport/Waterfront and Downtown/Midtown. I see appreciation in the 3-6% range.

4. Competition will still be fierce among buyers. There will be multiple offers on low end Boston condos (under $500,000). A whole new crop of buyers will be entering the market this year, and there are only so many properties available in the low range. I’ve already met with half a dozen prospective buyers in late 2017 who are ready to get going, and I’m sure my experience as a Realtor isn’t isolated.

5. The luxury market will make a strong showing.  Not only will the low end Boston condo market be active, but so will the Boston luxury condo market. Boston still attracts local and foreign luxury buyers, and will continue doing so in 2018.

6. Cash sales will continue in notable volume. Foreign investors and the tech sector will again drive cash sales in 2018.

7. New construction condos in Boston neighborhoods will cost you well above $1,000/sq foot. Several condo developments with prices averaging $1,200/sq foot or more. don’t be surprised to see more $1,500 per sq ft as the new norm for newly developed projects.

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Updated: January 2018

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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