There are a lot of misconceptions about the real estate market. One of them is that June is the month that the real estate season peaks with the highest prices and the largest inventory of homes for sale.
Most homebuyers prefer to buy in Spring even though waiting until summer usually means some savings and better service.
Last March was a very challenging time for home buyers. There were multiple offers on Boston condos for sale before anyone was even allowed to tour the condominium. Even with higher interest rates, I expect this will be a challenging year because the demand for Boston condos for sale is still higher than the supply and asking prices haven’t budged.
In fact, it may even be worse this year as homeowners decide not to sell because they won’t be able to get the low-interest rate they have today.
Usually, we see the peak in home sales in April which means that offers are being made in February and March. Homeowners still have to get their property on the market in time for the seasonal peak in mid-March.
This is month is the time to start interviewing brokers/agents and to conduct repairs and any painting that needs to be done. The ideal time to put the condo on the market is sometime in February, which is coming quickly
My biggest concern for the Spring 2023 Boston condo for sale will be the amount of inventory that will be available for Boston condo buyers.
If you like more information on a particular Boston neighborhood complete the form below: