When and What New Boston Luxury Real Estate Properties Will Be Coming on the Market?March 21, 2015
With a shortage of inventory, in a high demand luxury housing market, we keep running into the same question from our buyers: Will there be other new properties coming on the market and when???
Which Boston luxury condos will be available next or when are new properties coming on the market, is the 20 million dollar question. Short of having a crystal ball, here's my attempt to answer the frequently posed question. In theory and historically, the spring Boston luxury real estate market is busy with new properties being listed. Of course, the weather is not helping much this year. Therefore, the spring market is pushed back by a few weeks.
Most sellers who would like to sell their Boston luxury condos, but are not highly motivated, don’t know where to go or what to buy due to lack of inventory. New listings are a moving target, because we don’t know exactly what’s coming on the market, when and how many properties at any given time.
Buyers in the current market cannot play the “waiting game” and should not be as discriminatory as they once were. My advice is to be more open to exploring new Boston neighborhoods, review/revise your “wish-list” and honestly evaluate what you can and can’t live without. The market is moving fast and the prices are rising. The price range you’re looking for now will be much higher in a few months or a year from now, and you may no longer afford to keep up with the market.
Learn to compromise and be open to innovative suggestions. The Boston luxury real estate market is expanding to a much larger geographic area, including neighborhoods that weren’t even on the map 5 years ago. So, challenge yourself to be more open and discover new places. I promise, you'll be surprised what is out there.