Now Boston condo sellers are being impacted by higher interest rates
Higher interest rates are now impacting Boston condo sellers along with home buyers. New listings were down compared with April 2022.
However, some Boston condo sellers are still getting more than their asking price, for example, one of my agents placed a Charles River Park condo over asking price last week. The demand for Boston condos for sale remains higher than the supply.
Prices usually peak in the metro area in April. We won’t have those numbers until May. Average mortgage rates on a 30 year mortgage are at around 6.4%.
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