Boston condo buyers on the fence
Boston Condos for Sale and Apartments for Rent
Boston condo buyers on the fence
Boston condo buyers on the fence? After a quiet stretch induced by high mortgage rates, are there signs of Boston condo buyer momentum emerging in the housing market?
Boston-area home sales posted modest price gains in April, signaling a cautious sign that the Boston condo for sale market isn’t in a downfall, even as high mortgage rates and limited inventory continue to weigh on affordability, especially for first-time home buyers.
The latest data numbers suggest that while Boston home sellers may be feeling confident, buyers are still negotiating carefully, especially with borrowing costs from 6.5 to near 7 percent.
Affordability challenges are acute. Boston condo buyers are highly selective, often avoiding homes that feel overpriced or require substantial upgrades.
In the Boston suburbs updated listings are still drawing multiple offers, while others linger or take price cuts.
Boston Condos for Sale and the Bottom Line
My take is that the Boston condo for sale market for buyers and sellers is that we’re in a wait-and-see mode.
Some would-be sellers are locked into low mortgage rates and reluctant to list, but still others are holding off for clearer economic signals. Uncertainty around inflation, interest rates and geopolitical events including potential new tariffs is keeping many households in wait-and-see mode.
Peace be with you
Byline – John Ford Boston Beacon Hill Condo Broker 137 Charles St. Boston, MA 02114
Updated: Boston Real Estate Blog 2025
Ford Realty Inc., Boston Real Estate for Sale
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Boston condo buyers on the fence
I have worked with many Boston condo buyers over the years who have wanted to wait for the price to drop before making an offer. That didn’t work well during the buyers market of a decade ago and it doesn’t work in today’s competitive seller’s market.
The average Boston condo listing price to actual Boston condo sales price ratio for last decade has ranged from 93% – 95%
That being said, there are some Boston condos listed for sale out there that are overpriced. Those are the Boston condos have been on the market for a while because of it. The prices will likely be lowered but when the price goes down there will be multiple offers. The best strategy is to make an offer at a lower price. There are no guarantees but sometimes it works and I can almost guarantee that waiting for the price to drop won’t work if you’re looking to buy property in 2022.
