Boston condos for sale

What’s going on in our Boston condo market as we round out 2018? Let’s find out by taking a look at the year-over-year changes

First of all, it’s been a long time since we’ve seen this kind of movement in our market.

Boston condo inventory on the rise

There has been a spike in inventory since November of last year, homes coming on to our market this December

Boston condo pending sales

The number of pending home sales, though, saw a massive change in the opposite direction, dropping year over year. Unsurprisingly, this means that the number of closings has also dropped. .

So, given the fact that fewer Boston condos are selling while an increased number of properties continue to hit our market, inventory has risen year over year. The months of supply, or the number of months it would take for our market to become depleted of listings if no new homes were to be listed during that time, also rose,

“Buyers and sellers should begin preparing right away in order to reap the best results from our market.”

All of these changes indicate that we are entering a new market cycle.

The good news for sellers is that while our months of supply did see a spike, the increase is relative to last year’s uncharacteristically low level. A balanced market has anywhere between four and six months of supply

Our current market holds a lot of opportunity for buyers and sellers alike, as inventory is low and there has been some interest rate relief. If interest rates continue to rise, as they are projected to do, buyers could end up paying more for a home in the future even if they buy at a lower price.

The bottom line is to make a move if you’re thinking of doing so. Neither our low interest rates nor our low inventory will stay that way forever, so buyers and sellers should begin preparing right away in order to reap the best results from our market. If you are happy with what you own, though, and will continue to be happy until the next up cycle that is a few years ahead of us, then staying put is also an option. It’s all about determining your goals.

Conclusion

If you have any other questions, would like more information, or are curious about how market conditions in your specific area may impact your buying or selling experience, feel free to give us a call or send us an email. We look forward to hearing from you soon

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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