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Yes, It's Still a Good Time to Sell Your Boston Condo or Home

Boston condo supply demand #BostonCondos #BostonRealEstateYou might be tired of hearing me say it, but it's still true. If you've been thinking of selling your Boston home or condo, this isa good time!Thegraph above showsthe number of Boston residential units that wentunder agreement for purchase (in grey) in the 30-day period ending September 15, 2016. It also shows how many listings were available (in blue) at the end of that period.You can see that this new phase of low supply began in 2013. It has remainedlow every year since then. The norm prior tothen looked more like what you see in the year 2011.Comparing the numberof properties going under agreement withthe number of properties available, we get what is calledtheabsorption rate. The rate is considered in terms ofmonths of supply. Most analysts consider a three-month supply to be a balanced market. When supply is low, there's upward pressure onprices. For the last year or more, Boston has been hovering roughly between about a 1to a1.4 month supply. In mid-September, it has bumped up toa 2.13months supply.This little bump in inventory will likely mean a bitless competition for buyers. That said, its still a historically low inventory of Boston condos and homes, making it a great market for sellers. If a property is 1) priced correctly, 2) shows well, and 3) is well-located, it can go under agreement very quickly for favorable terms.I always like to emphasize how its still very important to price it right from the start, no matter what the market is like. When I list yourhome, my goal is to capitalize on the motivation of serious buyers, and those are the buyers who will visit the listing within the first couple of weeks it is on market. Iwant to make sure youll get them through your front door.Pricing your Boston home correctly isone of four vital components to selling with a good outcome.An experienced broker who knows the market well willhelp you to 1) understand the value of your home in the marketplaceand how to price it, 2)expose your home to the widest possible group of qualified buyers, and 3) show and represent your home in the best possible light.Most importantly, a trusted brokercan give yousound guidance through the potential pitfalls that can, and do,derail real estate transactions.For more than 24 years, I have helped people buyhomes and condominiums in Boston and its suburbs.I have developed anextensive knowledge of the many issues involved in the local real estate market.Ifyouhave been thinking about selling your Boston home or condo, or have questions about buying or selling Boston real estate, pleasecall me at617-584-9790. Or email me with a click ofthe blue button. Boston real estate 

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