Market Report
The Greater Boston housing market continues to struggle with an inventory crunch across the single-family, condominium, and multi-family markets. Fewer listings have mean fewer sales, with properties trading at higher prices.
Extremely limited inventory and rising prices were once again the name of the game in Greater Boston's residential real estate market last quarter. The following observations are based on MLS and CCH MLS data for the 80 communities that make up Greater Boston.
The summer real estate market in Greater Boston typically cools off a bit as consumers focus on vacationing rather than home buying and selling. This rule of thumb didn't hold true in 2020, however, when the pandemic spurred homebound consumers into a buying frenzy.
The first quarter of 2021 saw one of the strongest seller's markets in Greater Boston's history. As we close out Q2, a clear shift is evident. The single-family market has cooled a bit while the condo market has heated up.
As we close out the first quarter of 2021, Greater Boston is seeing one of the strongest seller's markets in history. Driven by a lack of single-family home inventory, very low-interest rates, and pent-up buyer demand, those looking to change their living situation based on their at-home experiences over the past year are entering a very competitive buyer pool.
The First Choice Dorsey Group is a top-producing team specializing in buying and selling, increasing the ROI of investment properties, real estate development, and property management.
