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Downtown Housing Market

Pop Quiz: Can You Define These Key Terms in Today’s Housing Market? [INFOGRAPHIC] | Simplifying The Market

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562 Results
3
Beds
2 | 1
Baths
2,172
SqFt
 
 
#72891854 | Condo
 
3
Beds
2
Baths
4,383
SqFt
 
 
#72909566 | Condo
 
2
Beds
2 | 1
Baths
2,521
SqFt
(14)
 
 
#72619855 | Condo
 
4
Beds
2 | 1
Baths
2,697
SqFt
 
 
#72915490 | Condo
 
2
Beds
2 | 1
Baths
1,985
SqFt
 
 
#72835084 | Condo
 
3
Beds
2 | 1
Baths
2,537
SqFt
 
 
#72889182 | Condo
 
2
Beds
2 | 1
Baths
2,275
SqFt
(42)
 
 
#72907094 | Condo
 
2
Beds
2
Baths
2,294
SqFt
(31)
 
 
#72684870 | Condo
 
2
Beds
2 | 1
Baths
1,904
SqFt
 
 
#72914807 | Condo
 
2
Beds
2 | 1
Baths
2,275
SqFt
(42)
 
 
#72907092 | Condo
 
4
Beds
3 | 1
Baths
2,933
SqFt
 
 
#72907978 | Condo
 
2
Beds
2 | 1
Baths
2,088
SqFt
 
 
#72915892 | Condo
 
4
Beds
3 | 1
Baths
3,958
SqFt
 
 
#72909383 | Condo
 
3
Beds
3 | 1
Baths
2,196
SqFt
 
 
#72923603 | Condo
 
3
Beds
3
Baths
2,173
SqFt
 
 
#72808977 | Condo
 
3
Beds
3 | 1
Baths
2,126
SqFt
 
 
#72928389 | Condo
 
4
Beds
3 | 1
Baths
2,761
SqFt
 
 
#72871363 | Condo
 
2
Beds
2 | 1
Baths
2,140
SqFt
 
 
#72888995 | Condo
 
4
Beds
3 | 1
Baths
2,807
SqFt
(42)
 
 
#72934401 | Condo
 
3
Beds
3 | 1
Baths
2,707
SqFt
 
 
#72682938 | Condo
 
2
Beds
2 | 1
Baths
1,905
SqFt
 
 
#72878977 | Condo
 
2
Beds
2 | 1
Baths
1,738
SqFt
(42)
 
 
#72907088 | Condo
 
3
Beds
3 | 1
Baths
2,340
SqFt
 
 
#72904365 | Condo
 
2
Beds
2 | 1
Baths
2,077
SqFt
 
 
#72933248 | Condo
 
2
Beds
3
Baths
2,823
SqFt
 
 
#72878486 | Condo
 
3
Beds
2
Baths
2,200
SqFt
 
 
#72923450 | Condo
 
3
Beds
3 | 1
Baths
1,807
SqFt
 
 
#72900600 | Condo
 
2
Beds
2 | 1
Baths
2,113
SqFt
Open House: Jan 29, 2022 12:00 PM - 1:30 PM
 
#72933083 | Condo
 
2
Beds
2 | 1
Baths
2,500
SqFt
 
 
#72918354 | Condo
 
3
Beds
4 | 1
Baths
2,667
SqFt
 
 
#72934804 | Condo
 
2
Beds
2 | 1
Baths
1,363
SqFt
 
 
#72934373 | Condo
 
3
Beds
3
Baths
2,323
SqFt
(21)
 
 
#72897384 | Condo
 
2
Beds
2 | 1
Baths
1,738
SqFt
(42)
 
 
#72907090 | Condo
 
3
Beds
3 | 1
Baths
3,110
SqFt
Open House: Jan 29, 2022 12:00 PM - 2:00 PM
 
#72935585 | Condo
 
3
Beds
3
Baths
2,048
SqFt
 
 
#72897844 | Condo
 
2
Beds
2 | 1
Baths
1,537
SqFt
 
 
#72926223 | Condo
 
1
Beds
1 | 2
Baths
2,393
SqFt
(33)
 
 
#72792740 | Condo
 
2
Beds
2 | 1
Baths
1,872
SqFt
(20)
 
 
#72902386 | Condo
 
3
Beds
3
Baths
1,741
SqFt
(39)
 
 
#72907191 | Condo
 
3
Beds
3
Baths
1,637
SqFt
(42)
 
 
#72909824 | Condo
 
2
Beds
2
Baths
1,848
SqFt
(42)
 
 
#72907097 | Condo
 
2
Beds
2 | 1
Baths
1,589
SqFt
 
 
#72902002 | Condo
 
3
Beds
2
Baths
1,603
SqFt
 
 
#72934977 | Condo
 
2
Beds
2 | 1
Baths
1,625
SqFt
 
 
#72903367 | Condo
 
2
Beds
2
Baths
1,386
SqFt
 
 
#72921964 | Condo
 
2
Beds
2
Baths
1,521
SqFt
 
 
#72913579 | Condo
 
2
Beds
2
Baths
1,259
SqFt
 
 
#72931907 | Condo
 
2
Beds
2 | 1
Baths
1,502
SqFt
 
 
#72910708 | Condo
 
2
Beds
2 | 1
Baths
1,973
SqFt
(36)
 
 
#72839414 | Condo
 
2
Beds
2 | 1
Baths
1,541
SqFt
 
 
#72917461 | Condo
 
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The property listing data and information set forth herein were provided to MLS Property Information Network, Inc. from third party sources, including sellers, lessors and public records, and were compiled by MLS Property Information Network, Inc. The property listing data and information are for the personal, non commercial use of consumers having a good faith interest in purchasing or leasing listed properties of the type displayed to them and may not be used for any purpose other than to identify prospective properties which such consumers may have a good faith interest in purchasing or leasing. MLS Property Information Network, Inc. and its subscribers disclaim any and all representations and warranties as to the accuracy of the property listing data and information set forth herein.
MLS PIN data last updated at January 24, 2022 1:30 PM ET

The year 2020 will certainly be one to remember, with new realities and norms that changed the way we live. This year’s Boston real estate market is certainly no exception to that shift, with historic highlights continuing to break records and challenge what many thought possible in the Boston high rise condo market. Here’s a look at four key areas that are fundamentally defining the market this year.

Housing Market Recovery

The economy was intentionally put on pause this spring in response to the COVID-19 health crisis. Many aspects of the common Boston condos for sale transactions were placed on hold at the same time. Thankfully, technology and innovation helped the industry power forward, and business gradually ramped back up as shelter-in-place orders were lifted.

The Real Estate Result?

Total transformation of the market from rock-bottom lows to exceptional highs. Today, the housing recovery is being called truly remarkable by many experts and is far exceeding expectations. From the pending home sales to purchase applications, buyers are back in business and homes are selling – fast.

According to the Housing Market Recovery Index by realtor.com, the market has surpassed pre-pandemic levels, and has regained the strength we remember from February of this year (See graph below):Have You Ever Seen a Housing Market Like This? | Simplifying The Market

Record-Breaking Mortgage Rates

Historically low mortgage rates are another 2020 game-changer. Today’s low rate is one of the big motivating factors bringing Boston condo buyers back into the market. The average rate reached an all-time low on multiple occasions this year, and it continues to hover in the record-low territory.

When rates are this low, buyers have a huge opportunity to get more for their money when purchasing a Beacon Hill condo or Seaport condo for sale, something many is eager to find while continuing to spend more time than expected at home this year, and likely beyond.

Continued Home Price Appreciation

One of the key drivers of downtown Boston real estate is home price appreciation this year is historically low inventory. Inventory was low going into the pandemic, and it is still sitting well below the level needed for a normal market. Although sellers are slowly making their way back into the game, buyers are scooping up homes faster than they’re coming up for sale.

This is a Classic Real Estate Supply and Demand

This is a classic supply and demand scenario, forcing home prices to rise. Selling something when there is a higher demand for what is available naturally bumps up the price. If you’re ready to sell your house today, this may be the optimal time to make your move. As Bill Banfield, EVP of Capital Markets at Quicken Loansnotes:

“The pandemic has not stopped the consistent home price growth we have witnessed in recent years.” 

Increasing Condo Affordability

Even as home prices continue to rise, affordability is working in favor of today’s homebuyers. According to many experts, rates this low are off-setting rising home prices, which increases buyer purchasing power – an opportunity not to be missed, especially if your family’s needs have changed. If you now need space for a home office, gym, virtual classroom, and more, it may be time to reconsider your current house.

According to Mortgage News Daily:

“Those shopping for a home can afford 10 percent more home than they could have one year ago while keeping their monthly payment unchanged. This translates into nearly $32,000 more buying power.

Boston Condos for Sale and the Bottom Line

With mortgage rates hitting historic lows, home prices appreciating, affordability rising, and the market recovering like no other, 2020 has been quite a year for real estate – perhaps one we’ve never seen before and may never see again. Let’s connect today if you’re ready to take advantage of this year’s record-breaking opportunities.

Boston Condos for Sale Search

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Ford Realty Inc., Boston Real Estate for Sale

Ford Realty Inc., Boston Real Estate for Sale

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