A Tale of Two Cities
Boston Condos for sale
A Tale of Two Cities
For a long time, the housing market was all sunshine for sellers. Homes were flying off the shelves, and buyers had to compete like crazy. But lately, things are starting to shift. Some areas are still super competitive for buyers, while others are seeing more homes sit on the market, giving buyers a bit more breathing room.
In other words, it’s a tale of two markets, and knowing which one you’re in makes a huge difference when you move.
What Is a Buyer’s Market vs. a Seller’s Market?
In a buyer’s market, there are a lot of homes for sale, and not as many people buying. With fewer buyers competing for these homes, that means they generally sit on the market longer, they might not sell for as much as they would in a seller’s market, and buyers have more room to negotiate.
On the flip side, in a seller’s market, there aren’t enough homes for sale for the number of buyers who are trying to purchase them. Homes sell faster, sellers often get multiple offers, and prices shoot higher because buyers are willing to pay more to win the home.
The Market Is Starting To Balance Out
For years, almost every market in the country was a strong seller’s market. That made it tough for buyers – especially first-timers. But now, things are shifting. According to Zillow, the national housing market is balancing out (see graph below):
The index used in this graph measures whether the national housing market is more of a seller’s market, buyer’s market, or neutral market – basically, whether it favors buyers, sellers, or if it’s not really swinging either way. Each month, the market is measured between 0 and 100. The closer to 100, the bigger the advantage sellers have.
The orange bars in the middle of the graph show the years when sellers had their strongest advantage, from 2020 to early 2022. But, as time has gone on, the market has become more balanced. It shifted from a strong seller’s market to a less intense one. And lately, it’s been neutral more than anything else (that’s the gray bars on the right side of the graph). That means buyers are gaining some negotiating power again.
In a more balanced or neutral market, homes tend to stay on the market a little longer, bidding wars are less common, and sellers may need to make more concessions – like price reductions or helping with closing costs. That shift gives today’s buyers more opportunities and less competition than a couple of years ago.
Why Are Things Changing?
Inventory plays a big role. When there are more homes for sale, buyers have more options – and that cools down home price growth. As data from Realtor.com shows, the supply of available homes for sale isn’t growing at the same rate everywhere (see graph below):
This graph shows how inventory has changed compared to last year (blue bars) and compared to 2017–2019 (red bars) in different regions of the country.
The South and West regions of the U.S. have seen big jumps in housing inventory in the past year (that’s the blue on the right). Both are almost back to pre-pandemic levels. That’s why more buyer’s markets are popping up there.
But in the Northeast and Midwest, inventory is still very low compared to pre-pandemic (that’s why those red bars are so big). That means those areas are more likely to stay seller’s markets for now.
What This Means for You
Every local market is different. Even if the national headlines say one thing, your town (or even your neighborhood) could be telling a totally different story.
Knowing which type of market you’re in helps you make smarter decisions for your move. That’s why working with a local real estate agent is so important right now.
As Zillow says:
“Agents are experts on their local markets and can craft buying or selling strategies tailored to local market conditions.”
Agents understand the unique trends in your area and can help you make the best choices, whether you’re buying or selling. With their expert strategies, you can move no matter which way the market is leaning, because they know how to navigate various levels of buyer competition, how to find hidden gems locally, how to price a house right, how to negotiate based on who has more leverage, and more.
Boston Condos for Sale and the Bottom Line
If you’re ready to make a move, or even just thinking about it, connect with a local real estate agent. They’d love to help you understand your local market and create a game plan that works for you.
What’s one thing you’re curious about when it comes to the market in your area?
Boston Condos for Sale and Apartments for Rent
Updated: Boston Real Estate Blog 2025
Peace be with you
Where is Ford Realty Located?
Ford Realty is located in 137 Charles Street in Beacon Hill
Ford Realty Beacon Hill – Condo for Sale Office
Boston condos for sale – Ford Realty Inc
Updated: Boston Condos for Sale Blog 2025
John Ford Boston Beacon Hill Condo Broker 137 Charles Street Boston, MA. 02114
Ford Realty Inc., Charles Street, Beacon Hill
Click Here to view: Google Ford Realty Reviews
A Tale of Two Cities
One would need to be schizophrenic to understand today’s news. On one channel I heard 7 million people will lose their unemployment benefits this week. On another news channel, it had employers complaining how they can’t find workers, and we have over 10 million open job vacancies.
After college, there was a recession. I wasn’t able to get any of the jobs that I had hoped for.
I worked many jobs including as a government employee. Some of my work experiences were horrible and some were alright and I learned something from each.
There were a few times that I had bosses that were totally insane. There was a boss with a drug problem and one who was a narcissist.
When I worked in a family-owned business I competed with the boss’s children for the best jobs. I won’t even mention the toxic work environments and poisonous company “cultures” I endured on my way to greatness.
I have been self-employed fo 20 years when I started my own downtown Boston real estate company. I no longer have to worry about being let go. I meet a lot of interesting people and I have a lot of control over how I spend my time and who I spend it with.
Self-employment and working on a 100% commission basis isn’t for everyone but for me it has been a perfect fit. I don’t like doing the same thing each day and I need to be challenged and I actually like to work. I especially enjoy problem-solving.
So if you are one of those unfortunate individuals who lost their unemployment today. go out and get a Boston real estate license and give me a call.
Boston Condos for sale
Boston comdos for sale
Click Here to view: Google Ford Realty Inc Reviews
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There’s a growing divide in the Boston real estate for sale market, with some Boston condo buyers fortunate enough to be able to buy newer and bigger luxury condos for sale, while others who have experienced job losses face losing their current homes.
The U.S. unemployment rate is at 8.4%
The U.S. unemployment rate is at 8.4% in August, and many Americans have been left struggling to pay their mortgages or monthly apartment rents. Lawrence Yun, the chief economist of the National Association of Realtors, says another 10 million jobs must be created to get the U.S. economy back to where it was before the coronavirus pandemic.
Apartment Rents in Doubt
Moreover, a survey by the Census Bureau recently revealed that 42% of apartment renters who earn less than $35,000 per year say they have only slight or no confidence in their ability to pay September’s rent.
“The level of economic suffering for families is heartbreaking if we don’t figure out how to help unemployed Americans pay rent,” Sam Gilman, co-founder of the COVID-19 Eviction Defense Project, told USA Today. “Eviction leads to horrible consequences for families. It can lead to homelessness, kids not going to school, and is linked to deaths of despair.”
40 million Americans are at risk of being evicted
Gilman estimated that up to 40 million Americans are at risk of being evicted at the end of the year if nothing is done. He said that eviction and foreclosure moratoriums that extend to the end of the year could well be postponing the inevitable.
“We are only delaying this huge build-up in rental debt and the precursor to eviction,” Gilman said. “Once rent comes due after the holidays, the circumstances for millions of Americans likely will not have changed.”
The most recent eviction moratorium came into effect on Friday and requires tenants to certify or testify under penalty of perjury that they’re doing everything that they can to pay. Some of the obstacles that preclude them from paying the rent include job losses or wage reductions, and medical expenses.
High-paying jobs are looking to take advantage of record-low mortgage rates
Those with high-paying jobs are looking to take advantage of record-low mortgage rates, and many are looking to luxury condos for sale during the pandemic.
Citing a recent survey, Bankrate said around 59% of homeowners in the U.S. have completed at least $500 worth of home upgrades this year, or are planning to do so before the end of the year.
Boston Real Estate and the Bottom Line
“There’s still a lot of interest in sellers getting top dollar for their homes and buyers getting more space. The work-from-home trend has legs even beyond the pandemic because many companies have found that workers can be productive from home and it saves them money on office space. That has big ripple effects for the housing market if work-from-home becomes more permanent,” Rossman said.
