Boston condos for sale: Summer real estate market.
As the health crisis started making its way throughout downtown Boston earlier this spring and now into the summer, Boston condo sellers have been cautious about putting their homes on the market.
This hesitation is stemmed primarily from fear of the spread of the coronavirus, and understandably so. This abundant caution has greatly impacted the number of Boston real estate for sales transactions and slowed the pace of a typically busy month of May real estate season.
Let’s Look at the month of May Boston condo sales data
May 2020 – Number of Boston condos sold – 247 down 49.21% versus May 2019.
May 2020 – Median Boston condo sales price $625,000 down 7.5% versus May 2019.
May 2020 – Inventory Boston condos 1,182 down 12.4% versus May 2019
May 2020 – Day’s-on-Market 47 up 9.32% versus May 2019
May 2020 – Median Boston condo sales price per sq ft. $612.00 down 15.8% versus May 2019
Boston Real Estate and the Bottom Line
What I’m seeing is the luxury Boston condo market is slow both in listings and sales. Interest rates bode will for Boston condo buyers, as far as Boston condo sellers inventory is low, could be an opportunity for you.