How is the Boston real estate market doing?
Why are there so few condos on the market in downtown Boston?
It’s true, the Boston Proper condo inventory level is low when compared to previous years at this time – down more than 50% in my most-recent analysis.
The Massachusetts Association of Realtors surveyed its members to find out what they think.
Homeowners holding off for higher prices — 41.8%
Concerns about the economy — 20%
Can’t sell because home is “underwater” – 13.6 %
Lack of homes to buy after they sell — 8.2 %
Waiting until after the presidential election — 5.5 %
Sellers don’t believe inventory is actually low — 3.6%
The most-popular reason was given as “holding out for higher prices” which seems to be a “catch-all” answer, to me. It’s more of a “eh, I dunno,” type of answer.
What do you think? Why haven’t you listed your home for sale? If you’re a buyer, have you found there to be a limited supply of condos?