As we strive to unravel ourselves from the COVID-19 crisis and the social upheavals, and the uncertainty they have both caused, the Boston real estate market predictions keep coming, ranging from dire warnings of imminent collapse to assurances that the next boom is on its way.
Such Boston real estate forecasts may be exciting, interesting, or even scary, but they are seldom of any real value to investors, and that’s not just because they often turn out to be wrong.
In today’s Boston real estate blog post, I’m not going to make a prediction, but show you hard data trends that I see in the Beacon Hill apartment rental market, and you, as the reader, can come up with your own predictions.
On a typical year at the beginning of June, the average supply of Beacon Hill apartments would be around 65-70 apartments for rent. As of the posting of this blog post-MLS (The Boston’s multi-listing-service) is presently listing 177 Beacon Hill apartments for rent. That’s a huge increase for an area of downtown Boston that’s only 1/4 mile square.
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