A little more than two weeks ago we pointed out that the Greater Boston housing market was cooling. Not cliff-diving. Cooling. The proof? Sluggish condo sales in once-hot markets; quite a few deals for under asking; and the fact that sales had not risen sharply during the spring, traditionally the busiest time of the real estate calendar, a turn even more acutely anticipated given the awful winter we endured. Readers quickly commented or wrote in with their opinions.
· Cooling? My downstairs neighbors just got 5 offers on their 1st floor (in a triple-decker) condo in JP. One of the offers was $30K over listing price - and their listing price was very reasonable.
· I thought for a moment this is an Onion article - as someone else mentioned the inventory is so limited of course there are fewer sales.
· There aren't enough rental apartments for demand though. Particularly apartments near the T. More inventory is definitely needed in apartments, because they go fast.
· I've been a rabidly searching buyer for 8 months now and this totally confirms my impression of what's been happening the past couple of months. Properties are lingering more and drops in listing price are becoming more common. I think the peak is here. Rising rates will enforce this trend. Reason has to make a comeback eventually....
Your thoughts? Phone lines still open.
· 3 Signs Greater Boston's Housing Market Is Actually Cooling [Curbed Boston]
· Slow Going So Far for Dorchester's Condo Market in 2015 [Curbed Boston]
· L.A. vs. Boston: An Extreme Winter Weather Comparison [Curbed Boston]