Are you thinking about selling your Boston Beacon Hill condo or perhaps your Boston Back condo right now or in 2022, but you’re not sure you’ll have the time to do so as the holidays draw near? If so, consider this: even as the holiday season approaches, there are plenty o Boston condo buyers out there, and they really want your Boston condominium. Here’s why selling this winter is a win for you.
Today’s real estate buyers are still dealing with a limited number of homes for sale. Thanks to continued low inventory, those buyers are competing with one another for their dream home. And when that happens, if your home is one of the few on the market, it will rise to the top of the pool – and it will be worth it.
According to the latest data from the National Association of Realtors (NAR), the average seller received 3.7 offers on their house in September. For a view into what’s happening at the state level, take a look at the map below:Nationwide, the average seller today is getting nearly four offers. That number is significant because it means you’ll likely have multiple offers to pick from if you sell your house this season. To put things into perspective, no matter where your state falls, remember that you really only need one good offer to close the deal.
Any offer you receive will likely be from a highly motivated buyer who’s doing everything they can to beat the competition. The stakes for buyers are high. They’ve been looking for a house and they want to lock in their dream home before prices and mortgage rates rise further next year. Chances are, they’ll get creative with the terms of their offer, which could include waiving contingencies and offering over the asking price – both of which are great news for you.
If you’re on the fence about when to sell, remember your house is a hot commodity this season. As other sellers take a break for the holidays with plans to re-list their homes in the new year, you can put your house in front of motivated buyers by making your move today. That means your house will be the center of attention, and likely the center of a bidding war too.
Selling your Boston condo now gives you even more opportunity to win big as buyers compete for your house in today’s market.
The 2020 housing market was a year of extremes. Within the span of just a few months, we saw Boston high rise condos go from hit decade highs and decade lows. Going into 2021, economists and industry players project home prices will be rising by 5.7% in 2021 and that the seller’s market will continue for the foreseeable future.
A Boston condo for sales seller’s market is when there are more people buying condominiums than downtown condos for sale. If you’re buying in a sellers market, you’ll encounter higher prices and increased competition.
At this point in time I don’t see how anyone can predict which way the downtown Boston real estate market is heading. The reason I say this, there are so many unknown factors that can determine the future on the Boston condo for sale market.
Here are a few factors that you would need to know to predict the Boston condo market in 2021:
- When will the masses have access to the Covid-19 vaccine?
- When will workers be going to work in commercial buildings again?
- Will working from home be the new normal in 2021 and beyond?
- Will Baby Boomers still want to move to the city as they did pre-pandemic?
- How long will it take for boutique stores and restaurants to re-group?
I can’t imagine any economist or an honest downtown Boston real estate broker can give you affirmative answers to the above questions..