Boston Real Estate on the Rebound?

Something interesting happened the other day. I went to schedule appointments for a client and was met with the following responses:


"Had over 50 showings since listing [earlier this week]. Going under contract tonight."


"Offer in-hand with 5pm deadline tonight. Are your clients ready to move quick?"


"Accepted offer."


These were all for properties that had been listed in the past two weeks, at the million dollar price-point. Am I surprised? Nope. Listings have been slower to re-enter the market than buyers have been. Pent up demand from both the listing and buyer side? You bet! We already had a low inventory environment in most neighborhoods.


Boston's market was cooking before COVID. Many of the reasons for people moving around in/out of the city haven't changed much since CV19 locked down the city (and world). The conversation in the virtual office has been around the Spring market being deferred, not lost.


We anticipate having one of the most active Summer markets ever, this year. Imagine taking two of the most active months and consolidating them into June - August. We anticipate carry-over into the Fall market. Will Boston bounce back and prove to be as resilient as it has in the past? #bostonstrong

126 Newbury Street, Boston, MA 02116

sobel@compass.com | (617) 398-7450

 

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