Boston Condos for Sale and Apartments for Rent

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Boston condo mortgage payments up 15% since August

Boston condo mortgage payment is up 15% since mid-August, climbing $337 to a new high of $2,547, according to a new Redfin report.

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Boston condos for sale

Are pending home sales up or down?

Pending home sales fell 21% year over year, the largest decline since May of 2020.

As Boston condo mortgage rates approach 7%, Redfin found potential homebuyers are delaying or canceling plans to make a purchase. That was increasingly evident in August as pending home sales fell to their lowest level since the start of the year.

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Boston condos for sale

Are there still real estate bidding wars?

The number of homes selling above list price dropped to its lowest level in more than two years. 

The market is reacting as homes are staying on the market longer and the number of sellers dropping their list price has reached its highest level since Redfin started tracking this data in 2015. 

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Boston condos

What are Boston condo brokers advising sellers?

Home sellers need to adjust pricing immediately if you want to be competitive and attract offers from a smaller pool of qualified homebuyers,” he said. “If your home isn’t the ‘belle of the ball’ in your neighborhood, you’re going to need to cut the price to sell it.

Sellers should anticipate that buyers are unwilling or unable to pay a price similar to what their neighbor’s home sold for a month ago, and buyers should connect with their lenders to find ways to mitigate the impact of rising rates.

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Boston condos for sale

How are Google searches for the term “homes for sale” doing?

Google searches for “homes for sale” during the week ended Sept. 24, down 33% from last year. Its Homebuyer Demand Index, which measures requests for tours and other services, was down 13% from last year.

 

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Boston condos

How Many Downtown Boston condos are for Sale in the 4th Q 2022?

Number of Back Bay condos for sale: 109.

Number of Beacon Hill condos for sale: 53.

Number of Charlestown condos for sale: 36

Number of Fenway condos for sale: 13

Number of Leather District condos for sale: 6

Number of Midtown high rise condos for sale: 62

Number of Seaport District condos for sale: 43

Number of South Boston condos for sale: 88

Number of Boston Waterfront condos for sale: 44