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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 April 15-May 15 in comparison to the number available at the end of that period (May 15). The chart above illustrates that comparison.

For the purposes of this comparison, core downtown neighborhoods are 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 by more than double, as well as outperforming all years since 2016.

The number of listings, however, is up by 38.92% over this time last year. This tells me that despite the increased activity, pricing should still be on the conservative side, marketing has to be top-notch, and the property has to show as well as it possibly can.

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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