Across the board we are seeing tight inventory in Boston. When looking at South End YTD 2022 vs 2023, the number of units sold is down 38%, and the number of homes listed this day (March 9) last year vs this year is down 30%
Traditional South End buyers prefer the quintessential Victorian brownstone homes rather than the newer luxury buildings that have popped up in the Sowa and Ink Block areas of the neighborhood. The homes that fill a need, particularly if they are this brownstone product, are selling about as fast as they are listed and many buyers are still going to extreme measures to secure that winning bid. While mid-range units, particularly in these new construction buildings, make up the majority of the inventory that is listed, they are not likely to trade as quickly as historic brownstone units..
Let’s take this data over to Charlestown. Here, YTD 2022 vs 2023, the number of units sold is down 33.3%, and the number of homes listed on this day (March 9) last year vs this year is down 26.5%
As city residents think about buying or selling in this spring market, it’s important to be as strategic as ever to keep up with a quickly evolving and transitioning market. You’ll want to be working with a team of professionals who are dedicated to following the market closely especially in times of financial uncertainty that can lead to quick and dramatic changes in demands not to mention the ever-changing rate environment. Let us get to work on your behalf and we promise to deliver the most professional service in the market as well as the integrity that you would expect from your most trusted advisor.