Boston Real Estate Recession – Suburbs Homes Selling Fast

Boston Condos for Sale and Apartments for Rent

Boston Real Estate Recession – Suburbs Homes Selling Fast

If you’ve seen headlines saying home sales are down compared to last year, you might be thinking – is it even a good time to sell? 

Here’s the thing. Sure, the pace of the market has cooled compared to the frenzy we saw just a few years ago, but that’s not a red flag. It’s a return to normal. And normal doesn’t mean nothing’s happening. Buyers are still out there – and homes are still selling.

Why? Because real life doesn’t pause for perfect conditions. There are always people who need to buy – and this year is no exception. Buyers who are in the middle of a big change in their lives, a new marriage, a growing family, or a new job still need to move, no matter where mortgage rates are. And they may be looking for a home just like yours.

Every Minute 8 Homes Sell

Let’s break it down using the latest sales data from the National Association of Realtors (NAR). Based on the current pace, we’re on track to sell 4.03 million homes this year (not including new construction).

• 4.03 million homes ÷ 365 days = 11,041 homes sell per day
• 11,041 homes ÷ 24 hours = 460 homes sell per hour
• 460 homes ÷ 60 minutes = roughly 8 homes sell every minute

That means in the time it takes to read this, another 8 homes will sell. Let that sink in. Every minute, buyers are making moves – and sellers are closing deals.

The Right Agent Makes All the Difference

If you’ve been holding off on selling your house because you think buyers aren’t out there, let this reassure you – there are still buyers looking to buy.

But since the market is balancing out, selling today takes more than just putting up a sign in the yard. You’ve got to price your house right, market it well, and know how to reach the buyers who are ready to act. That’s where a trusted local agent comes in.

They’ll help you navigate this market, position your home to stand out, and guide you through every step.

Bottom Line

The market hasn’t stopped. Buyers are still buying. Life is still happening. And if selling your home is part of your next chapter, you can make it happen.

Roughly 11,000 homes are selling every day – and yours could be next. When you’re ready to take the next step, connect with a trusted local real estate agent so you have an agent to create that perfect strategy.

Boston Real Estate Recession – Suburbs Homes Selling Fast

Boston Real Estate Recession – Suburbs Homes Selling Fast. Looking for a single-family home for less than $1.5M – Good luck.

Winchester, MA Real Estate & Homes for Sale | Ford Realty Inc

Peace be with you.

Byline – John Ford – Boston Seaport Condo Broker.

Click Here to view: Google Ford Realty Inc Reviews

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Boston Real Estate Recession – Suburbs Homes Selling Fast

The entire drop in hiring activity in the US the beginning of the pandemic occurred in the principal cities of large metro areas, according to online jobs data. In the rest of the country, hiring activity is now above pre-pandemic levels. This city-center recession is likely to have long-term implications for business geography.

Until a full vaccine and/or a cure is available, a large share of people is likely to continue to work remotely, meaning that fewer will go to downtown Boston than in pre-pandemic times. Fewer commuters will mean less money spent in downtown Boston. And that drop in spending is likely to be most noticeable in the lunch category. Meanwhile, downtown Boston residents are leaving for less densely populated locations in adjacent suburbs or nearby rural areas.

Downtown Boston Real Estate

If the above trend continues for a long length of time, you don’t need to be an economist to realize that this will have an impact on the downtown Boston real estate market.

We’re already seeing the impact on Beacon Hill apartment rents. In due time, it WILL impact the Boston condo for sale.

Within downtown Boston, many entertainment activities, such as going to theatres, top rated restaurants and museums are considered highly risky for infection, and thus will be slow to recover. In addition, tourism, which is highly concentrated in Boston, will remain low.

It is difficult to determine whether these trends are actually occurring, as there are no timely, government-published statistics on employment by place of work below the metro area level, let alone in city centers.

My fear is that downtown Boston will experience a large drop in the number of  job openings during the pandemic, especially with the need for employees needing to go to commercial high rise buildings. Outside of downtown Boston, the number of job will increase. 

Result Boston suburb home prices will continue to rise, downtown Boston condos prices sill be stuck in the mud, with owners holding out on their asking price as long as they can.

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 2023

John Ford Boston Beacon Hill Condo Broker 137 Charles St. Boston, MA 02114

Winchester, MA Real Estate & Homes for Sale | Ford Realty Inc

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