Ok COVID-19 Wrap it up: Time to get to work and sell Boston condos for sale in 2022
Let’s face it, the last couple of years the Boston condo for sale market was all about Covid’s continued influence on various aspects of our lives. But hopefully its coming to an end.
Here’s my Boston condo market wrap-up:
The average downtown Boston condo price increased from the same timeframe in 2020. Condos saw more modest appreciation, compared to past years.
With remote work looking like a semi-permanent thing, home buying and selling will pick up in 2022. Those seeking more accommodating space or more suitable neighborhoods for themselves will buy and sell Boston condos at a rapid pace as 2022 Spring market approaches.
Boston condo agents, home sellers and buyers will rejoice as open houses will make a strong return in 2022. With safety guidelines in place and more condo buyers being fully vaccinated , Boston condo buyers will drop in to see more Boston condos for sale without needing an agent escort and appointment.
Some commercial Boston real estate brokers thought employees would return to the office, but the Covid uncertainties kept things at bay. But its clear that workers reconciled with the reality that they’d be working from home (in their condos) indefinitely.
Sky-high labor and material costs in the construction industry will convey Boston condo buyers to pony up for any renovation projects for their Boston condo.
Newly renovated Boston high rise condos will continues to fly off the shelves, and condos with recently remodeled kitchens and baths in older neighborhoods like Back Bay, Beacon Hill and Boston’s North end will big winners for Boston condo sellers.
Multiple offer scenarios will the norm for the Boston condo marker in 2022, and Boston condo buyers will pull out all the stops when it came to competing for a home. They will waive home inspection, appraisal, loan and any other contingencies, and some Boson condo sellers could count on one or more contingency-free offers in the mix in 2022.
We’ve been all dealing with COVID-19 and its repercussions. If you’re reading this, hopefully, you’ve been unscathed as many people have lost the jobs and much worse. It’s definitely a time to appreciate the small things in life that may have been taken for granted in the past.
Ok COVID-19 Wrap it up and let’s get to business shall we? When it comes to Boston Real Estate in 2022, the Boston condo market will be solid. Boston condo sales numbers should continue on an upward trend for the most part, although we saw some signs in 2021 of the impact of the ongoing pandemic and how it can and will affect the market. If you’ve been doing the research and really taking in what those in the business realm have to say about Boston real estate and the economy, most signs point to an increase in Boson condo sale in 2022, we will have a strong resurgence of the real estate market because of super-low inventory levels. What remains to be seen is what an increase in interest rate (which will happen), will do to the economy and real estate market in the long term.
All this said, I think we can all agree that where we call home is more important than ever before.
Hang in there everyone. It’s been a bumpy ride, and we’re still working through Covid as a society. Buying and selling Boston condos for sale is Ford Realty’s essential business, and we’re taking all the necessary steps to continue to serve our wonderful clients and customers as best we can.
If you have questions about how we’re operating during the COVID-19 pandemic, or just need some simple guidance, don’t hesitate to reach out to us. You can call our office at 617-595-3712
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