Boston Real Estate for Sale

Boston Condos

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We have enjoyed our historically lowest mortgage rates for some time and after seeing a small spike in the interest rate, now we’re seeing fluctuations in both directions. I became curious as to why?

Boston Condo Sellers are Holding Firm

With Boston condo for sale inventories low and downtown Boston real estate values rising over the past year, sellers are holding firm on the price they demand.

Boston condos

Boston condos

recent survey by the real estate agent referral firm HomeLight has found that 52% of agents believe the biggest challenge sellers will face in 2021 is the temptation to overprice their homes due to the red hot market we’re in.

Boston Real Estate and Bidding Wars in 2021

Home sellers are firmly in the driving seat amid rising prices and low inventory, and 15% of real estate pros surveyed by HomeLight said they were worried that bidding wars in 2021 will lead to more offers on homes that are above their appraised values.

Bidding wars have become commonplace in many markets. In December, almost half of Redfin’s agents reported that they’ve faced multiple bidders when submitting offers for their clients.

Lack of Boston Condos for Sale

Additionally, HomeLight’s survey found that the biggest challenge for home buyers in 2021 will be the lack of housing options due to low inventory, and the inability to find a home they like, cited by 51.4% of all agents. Almost 19% of agents said they were also concerned their clients might lose out on multiple homes this year due to higher bids, and 11% said their clients will struggle to find an affordable home this year.

Boston Condos

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