Let’s view the Boston condo market today
Boston Condos for Sale and Apartments for Rent
Let’s view the Boston condo market today
When mortgage rates started going up last year, I was concerned about the Boston condo for sale market, what would it look like for the spring market 2023 – and it looks like we’ve made it!
Not only did our local market not crash and burn, it held up pretty well – and that’s in spite of the higher rates and blistering media attacks over the last eight months.
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As we enter the new year, the most significant trend we’re seeing in the Boston condo market is a marked by a slowdown in both home buying and new listings for sale. This is expected at this time of year when potential buyers and sellers are channeling their energy into the holiday season and moving plans are typically put on hold.
December listings have dropped to similar levels at this time over recent years. Less inventory can be a good thing as we need to work through the current stock of available homes for sale with a less than usual amount of Boston condo buyers.
That’s all I have for today, but I’ll have more updates on a daily basis.
