Redfin reported that the real estate market is cooling off some, as reported by Yahoo News. 

In the Boston area Redfin reported that they had 17.2% of offers written by Redfin agents on behalf of their home-buying customers faced a bidding war in June, down from 72.3% a year earlier, according to a new report from Redfin (www.redfin.com), the technology-powered real estate brokerage. Nationally, just 12 percent of Redfin offers faced a bidding war in June, down from 52 percent a year earlier.

Boston condos buyers: Wait and see approach

When they see the market slowing down, they prefer to take a ‘wait and see’ approach. The only homes that are getting multiple offers now are the ones in the best locations, great condition, and priced lower than similar homes in the neighborhood.”

Other early housing market indicators suggest that the cooling trend could be short-lived.

“With low mortgage interest rates luring more homebuyers off the sidelines as supply dwindles, we’re likely to see competition pick back up, especially for the most affordable homes and neighborhoods, where inventory is limited and buyers are most rate-sensitive,” said Redfin chief economist Daryl Fairweather. “At Redfin, we’ve been seeing increases in the numbers of homebuyers starting their searches and going on home tours following the latest mortgage rate drops.”

National Real Estate Chart

Metro Area

June 2019

June 2018

May 2019

San Francisco, CA

27.7%

64.9%

34.5%

San Diego, CA

19.4%

60.7%

23.9%

Boston, MA

17.2%

72.3%

18.6%

New York, NY

15.1%

57.9%

10.2%

Los Angeles, CA

13.7%

66.7%

14.0%

Denver, CO

12.3%

50.0%

12.4%

Sacramento, CA

11.8%

50.0%

7.8%

Portland, OR

11.8%

48.1%

12.5%

Seattle, WA

11.5%

53.1%

13.9%

Las Vegas, NV

11.5%

55.9%

18.4%

Phoenix, AZ

10.9%

34.8%

10.0%

Chicago, IL

10.0%

35.4%

8.3%

Washington, D.C.

9.9%

49.2%

13.0%

Philadelphia, PA

9.1%

47.1%

13.4%

Austin, TX

8.7%

52.1%

17.3%

Houston, TX

7.9%

47.8%

12.0%

Atlanta, GA

7.2%

30.2%

11.8%

Raleigh, NC

6.6%

34.2%

4.7%

San Jose, CA

6.3%

74.4%

14.7%

Dallas, TX

5.3%

42.0%

6.2%

Miami, FL

0.0%

32.7%

2.8%

National

12.2%

51.7%

13.2%

 

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  • For more info call Janet Lamb or John Ford at 617-595-3712

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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