Joe Wolvek

Supply and Demand in Downtown Bostons Residential Real Estate Market

Lets look at the number of downtown Boston condos/homes going under agreement from March 1-31 in comparison to the number available at the end of that period (March 31). The chart above illustrates that comparison.

For the purposes of this comparison, core downtown neighborhoods as defined as Back Bay, Beacon Hill, South End, Midtown/Downtown, Seaport, Waterfront, Leather District, Charlestown, South Boston, Fenway, West End, Bay Village, and Chinatown.

The first thing you see is that sales activity in the downtown Boston real estate market is outpacing last year, and outperforming all years since 2016.

The number of listings in downtown Boston, however, is up by 39.74% over this time last year. What does that mean? It means that despite an increase in activity, pricing should be on the conservative side, marketing has to be top-notch, and the property has to show as well as it possibly can.

The biggest driver of salability seems to be location, which is no big surprise. In general, the well-located properties are still going quickly.

If you or someone you know has questions about selling a Boston home or condo, please feel free to call me at 617-584-9790, or send me an email at joe.wolvek@gibsonsir.com.


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    Beyond Boston: Great Barrington, MA 4 Bed Contemporary $3,500,000

    This remarkable modern 4 bed home on 9 acres in Great Barrington, MA is listed by Patrice Melluzzo of my affiliate Sothebys brokerage, William Pitt Sothebys International Realty. Situated at the end of a country road overlooking the Williams River, amenities include river frontage, pines, river birches, extensive landscaping, stone patios, tennis court, heated in-ground pool with jacuzzi, 4 garages, studio/guest house, wood floors, cathedral ceilings, and window walls.

    The open floor plan includes kitchen with island, granite or stainless counters, dining space, living room with fireplace, and family room all overlooking the pool, yard, and river. The primary bedroom has extensive views, fireplace, dressing room, incredible bath with soaking tub, and a walk-in shower with a glass wall to natural light! The second floor has three bedrooms and two baths. The lower level has room for hobbies/exercise, shower, bath. The Studio/guest/2 garage is a separate building.

    See more details and photos for 9 Buttondown Lane, Great Barrington, MA.

    I can handle your real estate needs here in Boston as well as globally. If you have questions about buying or selling homes in Boston or beyond, please get in touch. You can call me at 617-584-9790, or email joe.wolvek@gibsonsir.com.

    Are All Realtors the Same?

    It's springtime! The crocuses are popping up, the weather is warming up, and the Boston real estate market is on fire.

    If you've been thinking of selling your property, this is a great time to do it. We are entering the busiest period of the year, in the busiest year we've seen in a while.

    So I know you've been thinking, "Aren't all Realtors the same?" and maybe even, "What, exactly, am I paying this guy for?" Don't deny it. I know you have.

    So what do I do, exactly? This is what I do.

    And here are a bunch of endorsements. People like me! They really do!

    I have 29+ years of success and hundreds of transactions and happy clients. The great majority of my listings in the last five years have gone under agreement in under a week, at or above asking price. Please get in touch!

    New Boston Doctors, Residents, Med Students! Welcome to Boston

    If youre a medical student who is graduating medical school in May and beginning your residency in June/July, youll want probably to get settled in somewhere around June 1st.

    While your new job may have a substantial salary, your debt-to-income ratio may be a bit high and you may think you downt have a sufficient down-payment. Plus, you may not be starting your job for 60 days or so. You probably want to get into your new home with low or no money down, and also to keep your payments low. There are mortgage programs especially for doctors, medical students, and residents prior to starting a new job.

    I have the lenders for you to speak with for these special doctor's or physician's mortgages; they have successfully helped many of my medical clients. There are several different programs. Each one will have specific features and benefits.

    I am a 29+ year Realtor serving the Medical areas of Boston. As a certified DRS-Agent, Im a vetted agent who will provide you with the very highest level of experienced service. Using a certified DRS-Agent, approved by the AMA, AOA, AMSA, and SOMA, is the quickest, easiest way to find a trusted professional real estate agent for the purchase or sale of your home. Ill help get you oriented to the city, neighborhoods, and Bostons real estate buying process.

    I am also an Accredited Buyer Agent a trained professional REALTOR who has earned the Accredited Buyers Representative (ABR) designation from the National Association of Realtors (NAR). I know the neighborhoods around and accessible to the medical facilities and can help you manage the intricacies of searching for and visiting appropriate properties. I will help you manage your transaction to a successful conclusion with as little stress as possible and as little drain upon your time as possible.

    Heres a bit about real estate transaction basics. But remember, Im here to help through each step!

    Heres more about special mortgage programs for residents, doctors, and medical students.

    Please reach out to me with any questions you may have at 617-584-9790 or joe.wolvek@gibson.sir.com. The sooner we can started and get you situated, the more time youll have to focus on your new life and work here in Boston!

    And congratulations! I love Boston, and I know you will, too.

    Newest Members of Bostons Medical Community: Welcome to Boston!

    Has Match Day 2021 got you headed to Boston? Welcome to our fair city!

    Having been a Boston realtor for over 29 years, Ive helped many incoming medical residents as well as new or transferring doctors and medical students in locating and transacting a new home.

    Heres how I can help you:

    Ill help get you oriented to the city and neighborhoods. I know the neighborhoods around and accessible to the medical facilities and can help you manage the intricacies of searching for and visiting appropriate properties.

    Im a certified DRS-Agent. What does that mean? The DRS-Agent organization has been endorsed by the AMA, AOA, AMSA, and SOMA. When relocating, finding a highly qualified and trustworthy REALTOR on your own can be difficult and time-consuming, especially if you are moving to a new city. DRS Agents are vetted agents who will provide you with the very highest level of experienced service. It is the quickest, easiest way to find a trusted professional real estate agent for the purchase or sale of your home.

    Ill also help you oriented to our real estate buying process here in Boston. As with most things, our real estate purchasing process is somewhat different than just about everywhere. I will help you manage your transaction to a successful conclusion with as little stress as possible and as little drain upon your time as possible.

    Ill also connect you with helpful buyer resources such as mortgage programs for residents, doctors, and medical students. Heres more about special mortgage programs for residents, doctors, and medical students.

    I can also connect you with recommended attorneys, home inspectors, contractors, and more.

    Here are some Boston real estate transactions basics.

    Let me make your experience getting to know Boston and buying your home as stress-free as possible. Please reach out to me at 617-584-9790 or joe.wolvek@gibson.sir.com.

    Beyond Boston: Ogunquit ME Grand Ocean View Home $2,199,000

    This impressive, spacious 4 bed residence perched above the Atlantic Ocean with superb ocean views is listed by my affiliate Sothebys brokerage, Anne Erwin Sothebys International Realty. Living is easy in this custom home with walls of windows and multiple decks throughout. In an enclave of fine homes a short distance to Perkins Cove and pebbly Narrow Cove tidal beach, and just an hour from Boston, this home is ideally positioned to enjoy all the seaside destination of Ogunquit offers.

    Well-designed interior and exterior spaces take full advantage of the contours of the lot, the panorama of ocean views, and natural light, creating numerous living options, perfect for family and friends. The second level open floor plan encompasses an expansive living room with double sided gas fireplace, a stylish gourmet kitchen that flows through to an enormous pantry, and a dining room that opens to a large deck. A sumptuous third level primary bedroom is highlighted by a spa like en suite bath, gas fireplace, and two private balconies ensuring you will have a private retreat where you can enjoy gorgeous ocean views and sunrises. Complete with a passenger elevator accessible from each level of this multistoried home, a finished flex room at ground level, and an attached three car tandem garage make this home a real stand out!

    See more details and photos for 44 Jupiter Lane, Ogunquit, ME.

    I can handle your real estate needs here in Boston as well as globally. If you have questions about buying or selling homes in Boston or beyond, please get in touch. You can call me at 617-584-9790, or email joe.wolvek@gibsonsir.com.

    Boston Homeowners: How to Get Your Residential Real Estate Tax Exemption

    Want $3,153? It's yours! If...if you're a Boston homeowner and you purchased your home this year prior to July 1st, you can qualify for a residential real estate tax exemption! This will take the above stated dollar amount off of your taxes for the year. Not bad, huh?

    All you've got to do is go to Boston.gov here: How to file for residential tax exemption. There are directions on that page. You need to file your application by April 1. Also, if you like, you can phone 617-635-4287 to speak to a human. When I called, they actually picked, up, much to my surprise, and they were very helpful!

    If, like me, you bought your home after July 1st, the city will (they say) send you an application around the end of August. Your taxes will reflect the exemption beginnning January 1, 2022. Not just that, but they will (they say) mail you a refund for the period between September 1, 2021 and the end of the year. Not too bad, right?

    If you have questions, call the above number. You could call me, but they will be much more helpful with this particular thing. I, however, will be extremely helpful if you call me to help you list your property or buy a new one.

    Boston Medical Community Match Day is Near!

    BOSTON MEDICAL COMMUNITY: Match Day 2021 (Friday, March 19) is nearly here! Welcome to our fair city, Boston Massachusetts!

    As your realtor Ill help get you oriented to the city, neighborhoods, and our real estate buying process, and connect you with buyer resources such as mortgage programs for residents, doctors, and medical students.

    I have been a Boston realtor for over 29 years, and have assisted many incoming medical residents as well as new and transferring doctors and medical students in locating and transacting a new home. I would love to help you as well.

    I know the neighborhoods around and accessible to the medical facilities and can help you manage the intricacies of searching for and visiting appropriate properties.

    As with most things, our real estate purchasing process is somewhat different than just about everywhere. I will help you manage your transaction to a successful conclusion with as little stress as possible and as little drain upon your time as possible.

    I have your A-Team; Great, doctor loan lenders, recommended attorneys, home inspectors, contractors, etc.

    Heres more about special mortgage programs for residents, doctors, and medical students.

    Increased Sales & Inventory in Downtown Boston Real Estate Market

    We're seeing an increase in residential sales activity in the core downtown Boston market right now. Year to date as of February 21, the number of properties going under agreement is nearly 16% higher than in 2020.Reasons for the increase in sales could include pent-up demand, low interest rates, and the increase in inventory (leading to more choice and less competition for properties you might make an offer on).As of mid-February, downtown Boston inventory of condos and single family homes combined is 37.26% above last year at this time. The chart below, from my latest Boston real estate market report, illustrates the rising inventory in recent years. The current availability of downtown Boston condos and homes is the highest it's been since 2011. Downtown Boston real estate market Higher inventory may be due in part to people who were going to put their properties on market in the spring of 2020 and postponed it until now. And some of the current sellers may be part of the uptick in number of people making a move from downtown to the suburbs.For more details on the downtown market, here's my latest report.If youhavequestions about buying or selling Boston real estate, please call me at617-584-9790, or send me an email via the link below. Boston real estate 

    Beyond Boston: Eclectic Colonial on Seneca Lake $829,900

    This eclectic 5 bedroom house high on the west bank overlooking Seneca Lake is listed by Timothy Spooner of my affiliate Sotheby's brokerage, Select Sotheby's International Realty. Built around 1830 by the first Dean of the Geneva Medical College, this home with 186' of lake frontage is designed to have lake views from every room. Entering the front door there are immediate views of the lake through large windows and French doors. Enjoy the views from large open porches on each level with direct access from the kitchen, great room and bedrooms. Home offers the original charm and character of high ceilings, grand woodwork throughout, multiple fireplaces, master suite, modern kitchen with quartz counters, updated baths, and 2nd floor laundry. The 1,074 sq ft finished lower level offers an array of uses from in-law suite to a home based business with private exterior access, and of course views of the lake.See more details and photos for789 South Main Street, Geneva, NY.I can handle your real estate needs here in Boston as well as globally. As always, if you have questions about buying or selling homes in Boston or beyond, please call me at617-584-9790, or send me an email via the link below. Boston real estate 

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