Boston condos for sale

In the Boston real estate market inventory, overall, is tight. This is especially true in the spring and early summer months (but not so much now it is actually a pretty good time to buy). You may find that the best deals are on the market for a few days, moderately priced homes can sit for a month or two, and overpriced homes can sit for extended periods of time. Lower price ranges in town (anything under 300,000) moves a lot faster than any other category.

It’s challenging (especially in the lower price ranges), but not impossible, to buy a home under these real estate market conditions, so of course we’re always looking for a party to blame. Murky stories emerge, and chief among them is the belief that migration to Massachusetts from places like New York and New Jersey and even buyers from China is driving up demand for homes to unreasonable levels.

First off, it’s important to remember that the stories about the Boston real estate market are sometimes exaggerated. Yes, we see multiple-offer situations, so called “bidding wars”. And yes, Boston is a popular place to move to, but that doesn’t mean migrants are the ones causing the overall residential real estate shortage.

What is the real cause?

To figure out whether these new Portland residents are entering the real estate market and buying up homes, the truth that most migrants to the Boston metro area have a lower income than those already living here. That’s mostly because they also tend to be younger – entering college, or just starting careers.

Most individual from who migrate to Boston move into apartments or rent a room in a house, and many will move on to other parts of the country after they’ve spent a year or two doing that. (You may have noticed the Boston rental market is a lot tougher than the Boston real estate market.) Migrants are likely responsible for the tough rental market, and not the tough (at times) Boston condos for sale market.

Boston condo/apartment construction boom

The boom in construction of new apartment buildings around Portland confirms this picture of migration to the city, and 2015 and 2016 were both record-setting years for the number of new apartment building permits issued.

What’s the cause?

So, if migration is not the primary culprit for a tight Boston real estate market, what is? Lack of new home construction (due to lack of available land in the city) as well as overall employment and wage growth are allowing current Bostonian’s to move into better homes (or buy their first one).

If you’re one of those Boston residents ready to buy your first home, or move into a new home.We’ll give you the straight story and get you into the right home – it just takes a little patience and a skilled team on your side.

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Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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