The Boston downtown real estate market is once again heating up (like the weather) and tilting the scale in favor of sellers. Should the current trend continue during the second half of the year, more sellers will likely be enticed to list their Boston condos for sale. With the above in mind, now is a good time to go shopping for a Boston Seaport condo for sale. Since the house hunting process has largely moved online, here are a few tips to make your search more efficient.
Start with a Boston Downtown Real Estate Market Report
Thanks to real estate analytics websites such as Zillow, Trulia and even of this website, you can get an idea of what market conditions are like in the Boston downtown area’s you’re interested in. Starting with a general region such as the Boston Seaport District, you can narrow your search down to a few zip codes, paying attention to average prices, recent sales, and how quickly properties are being sold. Look for listing trends that stand out. For example, if an area shows stagnant listings and low sales despite price drops, you may want to look elsewhere.
Figure Out How Much You Can Really Afford for a Boston Condo for Sale
Once you settle on a few Boston downtown real estate neighborhoods where you’d like to tour listings, take a look at median prices and talk to a mortgage loan officer about financing options. These days, the mortgage lending process starts with a home affordability worksheet that provides a realistic scenario of how much you can borrow based on your income and all monthly expenses, which allows you to focus your home search within a specific price range.
Pay Close Attention to Downtown Real Estate Status and Day’s-on-Market
When browsing Boston real estate websites sites such as Zillow, you have to keep in mind that not all listings may be available. Look for a description field that indicates the status of the property. If it says “active,” you can schedule a showing and enter a bid. In some cases, you may see the listing has already sold. In other cases, it may be coming back on the market, which could mean a deal fell through, and this may present an opportunity to enter a lower bid.
Set Up Smartphone Alerts for New Boston Condos for Sale
This is one of the most enjoyable aspects of online Boston downtown real estate searching. Many websites, particularly those managed by real estate agencies, offer opportunities to receive mobile notifications whenever there’s a price drop or when a listing that matches your precise criteria comes on the market.
Boston Downtown Real Estate – Conclusion
If you’re looking for a condo in downtown Boston, now may be a great time to find your dream home at the right price. Make sure to seek help from reliable professionals with extensive expertise, condos are likely to come on the market steadily moving forward from Summer through the Fall, so stay on top of the latest listings by calling us at 617-595-3712.