Whether you were crying because we did not have a white Christmas, or you were dancing with snow free joy during the Patriots playoffs, you probably never expected the record amount of snow we received since. The impact on the region has been enormous.

When the first snow flakes were falling, I doubt anyone could predict how severe a blow it would be to realtors. In downtown Boston in January 2014 we had 147 condos sales, in January of 2015 there was only 114 condo sales are off by almost 20 percent. Even pending sales have taken a hit. Home inspectors cannot thoroughly inspect roofs or basements putting sales in jeopardy . Potential buyers are staying home because they cannot find anywhere to park or do not want to trek though feet of snow.
Misery loves company and realtors are not alone. While snow plow operators, hardware stores, and supermarkets have profited. Restaurants and other retailers have suffered immensely. Gas tax collections are down as are parking meter revenues. When the snow melts some of those sectors will be unable to recover. However most signs point to a booming spring in a the Boston real estate market

Interesting Fox news report on how the February snow storms are impacting the local housing market.
Boston News, Weather, Sports | FOX 25 | MyFoxBoston

For more information on how to be a Boston condo owner please contact John Ford at 617-720-5454. You can also email at realtyford@yahoo.com

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Updated: January 2018

 

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