Boston’s Condo Market

Is Boston’s condo market slowing? Agents weigh in

 

 

 

Our founder, Josh Stephens, was featured in Boston Agent Magazine to discuss the current condo market in Boston.  The Greater Boston Association of Realtors says that condos sales fell 4% and prices were down 5.8% in April of last year.

 

Other realtors weighed in on the data points and shared their thoughts on the market. One mentioned the effects of construction in Seaport on the market fluctuation, while the other said they have noticed condos taking longer to sell in the Boston market. Josh calls the fluctuation more of a “balanced market.”

 

“Sellers and agents alike are starting to get nervous, but overall I think it will ultimately lead to more transactions,” Stephens said. “All the leftover buyers from the past two years are starting to come out of the woodwork and feel more confident in buying at or below list price,” he added, without feeling forced to drop crucial contingencies or pay well over asking. With mortgage rates stabilizing and the economy in good shape, he expects buyer confidence to improve even more.

“Under $1 million, transactions are still up overall. The luxury market is a bit slower, but not in a place anyone should worry about,” Stephens said. “Real estate ebbs and flows. This is nothing more than that.”

——– Boston Agent Magazine

 

About the Author

Real estate professional Joshua Stephens is a vice president at Warren Residential’s Berkshire Hathaway Home Services. Stephens joined the company in 2013 and quickly distinguished himself as a motivated innovator.

Joshua has experience in every aspect of residential real estate in Greater Boston and has had the pleasure of working with the area’s buyers, sellers, investors, and developers.

He has been awarded many honors for his work in both real estate and as a community developer and advocate. In 2017, he was chosen to serve on the Berkshire Hathaway HomeServices national REthink Council, a position bestowed by BHHS executives to 15 agents among thousands of applicants. Although Berkshire Hathaway is known for hiring the finest and most capable individuals, Joshua has continued to set himself apart time and again.

In addition to his work in real estate, Joshua is involved in a number of local organizations and charities. In 2016, he was instrumental in conceptualizing and developing Business Networking International (BNI) Prospect Hill, an organization that connects local business professionals and entrepreneurs, and currently is president of the group.

A resident of Massachusetts, Joshua believes that connecting his clients with ideal communities is both a priority and privilege. He sees his role as a Realtor as about more than simply facilitating the buying and selling of property, but rather serving as lifelong advisor. Due to this, Joshua is able to alleviate the typical burdens of moving and assure the experience is one that lets the sensation of being in the perfect place, at the perfect time, truly resonate.