Boston downtown condos for sale
The downtown Boston condo market has been a rapidly growing for the past few years, one example is the new Boston Seaport luxury condos being built
Will Boston continue to grow?
Will downtown Boston condo expand in girth over the next few years, potentially adding more real estate to the mix? The answer is yes, but the real question is where and how that market growth will occur. Too quickly, and we risk losing the character and definition of the city. Too slowly, and increasing Boston condos for sale prices will make it difficult for middle and lower-income families to live and work in Boston.
Metro, the regional entity charged with managing growth, transportation and other city planning logistics, has long relied on Boston’s strict land use laws and required Urban Growth Boundaries to keep outlying real estate from being developed too quickly. How will it impact the Boston area real estate market, and, as a home buyer, where you want to invest in a home?
Boston Condo Prices Go Up; More Homes on the Market
Boston condos growth in the Boston area is slowing down, but rising prices here still outpace growth rates in other US cities. According to the most recent Case-Shiller home price index, prices rose in Boston, putting it in the top tier out of all major US metro areas
The most recent MLS report shows that Boston’s average home price increase over the past twelve months along with inventory
New Jobs and New Boston Residents
Unfortunately, those new listings don’t represent new housing, and the Boston real estate market is still very tight. The average home has spent just 50 days on the market this year, and inventory was low at 1.5 months in May.
And, according to economists, Boston’s population can be expected to continue growing as new jobs are added. That means Boston can continue to add new residents and not run into a huge unemployment problem.