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?
Author: John Keith
John A Keith is a licensed real estate broker in Boston, Massachusetts. He helps buyers and sellers of condos and single-family homes in all of Boston’s neighborhoods.
He is also a writer whose work has appeared in South End News, Boston Courant, Back Bay Patch, and Boston Herald.