Like many other real estate markets nationwide, the Boston Condo Sales market was on fire in the first quarter of 2014. Prices were up a staggering 22% compared to 2013! We are consistently seeing multiple offers, and properties selling at or above asking prices. If you're a buyer, it's an extremely difficult time, as supply is tight, and demand is high. If you search Boston Condos for Sale inventory, there are currently 597 properties available, which is down roughly 7.5% from the same time last year. Spring is prime selling season for Boston real estate, but unless inventory increases drastically, the bidding wars will not end for several months or even longer.
Contrary to the data, I don't think it's realistic for a seller to think their home or condo is worth 22% more this year than last, but with bidding wars being the norm, most properties are certainly up 10% or more since last year. Either way, there's never been a better time to sell your condo. If you're considering selling, please reach out to Terrier Residential for a free market analysis, and let us show you how our marketing will sell your home faster, and for a higher price then the competition.
Posted by Michael Sylvia on