Cash buyers for Downtown Boston condos is on the rise

How does our Boston condo for sale market keep trucking along with sky-high prices AND mortgage rates 2x higher than they were three years ago? Shouldn’t prices adjust downward?

We know that the generational wealth transfer of $70 to $80 trillion dollars is underway, and this is where some of it is showing up – purchases of quality Boston luxury condos for sale.

Those who aren’t paying all-cash have big down payments to help cushion the higher rates. Payment too high? Put more down!

For the downsizers, it’s the best way to justify giving up the 3% mortgage too – sell the long-time family estate and buy the next one all-cash.

It means that the percentage of all-cash buys will probably be increasing into the Summer and Fall market.

Boston condos for sale

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Cash buyers for Downtown Boston condos is on the rise

Many homebuyers are coming in with cash to buy Downtown Boston Condos and Beacon Hill condos. The data shows us the percentage of cash investors for 2018 increased from 2018. There has been a good portion of increasing cash buyers here in Downtown/Midtown Boston.

As Downtown Boston condo Specialists, we are seeing bidding wars going on where some units have multiple offers. The seller can compare offers and will most likely go with the bid offering cash, a short close of escrow as well as a an increase in the earnest money deposit. It might seem unfair but a cash buyer is key when it comes to being able to stay in the game of bidding wars and get the opportunity to close a deal.

The Least expensive Boston High Rise condos. Asking prices vary every day.

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Click here to view: Downtown Boston condos sales data