Just like what you’ll need to do with your clocks on Sunday, March 11th spring ahead, the Boston luxury condo market will also “spring ahead” but this spring, the lack of Boston condo inventory for sale on the market right now is in a winter mode.
Many potential sellers believe that waiting until Spring is in their best interest, and traditionally they would have been right.
Buyer demand has seasonality to it, which usually falls off in the winter months, especially in areas of the country like New England where winter can last a little longer by the impact of arctic temperatures and conditions. And let us not forget snow storms in the middle of March.
Boston luxury condos
What will Spring be like?
Demand for the Boston luxury housing market has remained strong as mortgage rates have remained near historic lows. Even with the recent increase in rates, Boston condo buyers are still able to lock in an affordable monthly payment. Many more buyers are jumping off the fence and into the market to secure a lower rates, before they rise more as predicted.
The National Association of Realtors (NAR) recently reported that the top 10 dates sellers listed their homes in 2017 all fell in April, May, and June.
Those who act quickly and list now could benefit greatly from additional exposure to buyers prior to a flood of more competition coming to market in the next few months.
Conclusion
If you are planning on selling your Boston luxury condos in 2018, let’s get together to evaluate the opportunities in our market place. For more infromation please call me at 617-595-3712.