At first glance, the increase in Boston condos for sale compared to last year may not sound like good news for prospective Boston condominium sellers, but it actually gives you two key opportunities in today’s housing market going into 2023.
An article from Calculated Risk helps put the inventory gains the market has seen in 2022 into perspective by comparing it to recent years (see graph below). It shows supply has surpassed 2021 levels by 58%. But the further back you look, the more you’ll understand the bigger picture. And if you go all the way back to 2019, the last normal year in real estate for sale market, we’re roughly 35% below the housing supply we had at that time.
If your current Back Bay or Beacon Hill condominium no longer meets your needs or lacks the space and features you want, this real estate inventory growth gives you even more opportunity to sell and move into the home of your dreams. With more Properties for sale on the market, you’ll have more to choose from when you search for your next home.
Partnering with a Ford Realty Boston condo for sale agent can help you make sure you’re up to date on the homes available in your area. And when you do find the one, a professional can advise you on how to write a winning offer.
But again, despite the growth, inventory is still low compared to more normal years, and that isn’t going to change overnight. For you, that means your Beacon Hill condo for sale should still be in demand among potential buyers if you price it right.
As an article from realtor.com says:
“Today’s shoppers generally have more homes to consider than last year’s shoppers did, but the market is still not back to pre-pandemic inventory levels.”
If you’re a Back Bay condo owner looking to sell your home, you have more properties to choose from and can still sell your condominium while inventory is low overall. Let’s connect to get started, so you can have the best of both worlds. I can be reached 24/7 at 617-595-3712 or 617-720-5454