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Supply and Demand in Downtown Boston's Residential Real Estate Market

downtown-supply

Let’s 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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