In the Boston real estate for sale market where current inventory is low, it’s normal to think buyers might be willing to give up a few desirable features in their Boston condo for sale search in order to make finding a house a little easier. Don’t be fooled, though – there’s still an interest in the market for some key upgrades. Here’s a look at the two surprising things buyers seem to be searching for in today’s market, and how they’re impacting new Boston high rise condos being built.
Boston Condo Buyers Are Not Giving Up Their Parking
The National Association of Home Builders (NAHB) recently released an article showing the percentage of new homes completed in 2018. The data reveals,
- 64% of new homes offer a 2-car garage
- 21% have a garage large enough to hold 3 or more cars
- 7% have a 1-car garage
- 7% do not include a garage or carport
- 1% have a carport
Boston real estate
The following map represents this breakdown by region: Evidently, a garage is something homebuyers are looking for in their searches, but that’s not all.
Boston Real Estae Buyers Are Not Giving Up Their Outdoor Space
Patios and decks are on the radar for Boston high rise condo buyers as well. Community areas that are often common amenities in new high rises complexes , but as it turns out, private outdoor spaces are quite desirable too. NAHB also found that,
“Of the roughly 876,000 single-family homes started in 2018, 59.4% came with patios…This is the highest the number has been since NAHB began tracking the series in 2005.”
Boston real estate for sale
As shown in the graph below, the number of new homes built with patios has been increasing for the past 9 years. Clearly, they’re a desirable feature for new homeowners too.
Boston Real Estate And The Bottom Line
Boston real estate homebuyers are looking for indoor garage space and outdoor patio living. If you’re a homeowner thinking of selling a Boston condminium with these amenities, it appears buyers are willing to spring for those key features. Let’s get together today to determine the current value and demand for your Midtown condo for sale.
