A Tale of Two Markets: Boston and its Suburbs!

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Real Estate
Hello hello,
I trust you’re enjoying the start of spring in our fair city! As for Real estate...

It is a great time to sell in the Boston suburbs, particularly, in the popular pricing segments:

The craziness of multiple offers, 'over asking' transactions, and buyer fatigue is back! Buyers seem undeterred, despite the news about the economy, the Fed continuously raising rates, inflation, and war in Europe. In addition, the extreme lack of inventory means if a reasonably good home ‘at the right price’ comes on, all the buyers in that range jump on the offering.

It is a good time to buy in the city, particularly in the higher price range:

Now here is a surprise, we do have some inventory in the city! This is due to a combination of factors. A few fabulous residential high rises are recently finished, or about to be, and are awaiting residents. In addition, some boomers are selling their lovely city homes and retiring to warmer climes. All this is creating some movement. Meanwhile, the city is still recovering from the pandemic office shutdowns. Many offices now offer at least 2-3 days of work from home options, and some workers are choosing to live a little further and commute as needed. My guess is that in a vibrant city like Boston where the fundamentals are still good, plenty of jobs, diverse industry, sensible policies - it is only a matter of time for this to change again. Soon Boston will no longer have inventory. So yes, it is a good time to buy in the city!

My take aways:

  • If you’re a buyer in the suburbs, particularly a first-time home buyer, it can feel rough out there. However, if you keep at it you will prevail.
  • If you’re a ‘maybe’ seller in the suburbs, this is a fabulous time to list.
  • If you’re a seller who also needs to buy in the burbs, at least you will have an upside from your home sale that will make it easier.
  • If you’re a seller in the burbs who is also looking to buy a fabulous condo in the city, you are golden.

As always, if you have any questions on real estate do not hesitate to reach out. I can help with strategies to stand out from the pack or to get over inertia and make some moves. Or just call to say hello!

I look forward to catching up.

Best wishes,