With the economy stuck at around 11% unemployment, you would expect that we would be a buyer’s market in Boston — and there would be an oversupply of Boston condos for sale to choose from. Well, not so fast.
In the Boston condo market inventory hasn’t increased as much as one might think
So, while it’s supposed to be a buyer’s market, there seems to be less and less to choose from. And the law of supply and demand in economics typically tells us that as supply decreases, prices go up. That appears to be the case here in Boston.
What I am hearing from potential Boston condo buyers and buyer broker agents is that potential buyers are very discouraged by condo pricing and existing inventory.
It’s more complicated to look at Boston condos for sale these days. Open houses have been discouraged, and of course, you have to wear the PPE and sanitize before and after the experience.
It was already a challenge before Covid-19 to gather enough information in 10-20 minutes to make a decision that will affect the rest of your life. Compound the difficulty with a mask that makes it harder to breathe (and fogs up your glasses) while the listing agent is pestering you not to touch anything.