It was a year of mixed results for our local real estate market in 2018. On the one hand, Boston condo for sale values were solid and most properties didn’t sit on the market for very long. But on the other hand, there were notable signs of a downward shift.
Yes, the average price of a Boston Midtown condo was just under $1,700,000. But there were fewer offers on properties, which translated into fewer rabid overbidding situations. We seemed to peak in the Spring, and sellers who listed their homes thereafter didn’t necessarily snag the outlier buyer(s) compelled to pay way over asking to get the property.
Here are my thoughts on what I think we’ll see in 2019:
- Continued buyer uncertainty propelled by stock market gyrations, the political climate, and rising interest rates
- Fewer extreme multiple offer situations
- Fewer buyers willing to pay hundreds of thousands of dollars over the list price.
- New construction of Boston high rise condos will slow down.
As always, I’m on the lookout for new clients to assist in the new year. Give me a shout if you’re planning to buy or sell a home in 2019, you can reach me at 617-595-3712 | email@example.com