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
Joshua Stephens is the founder and president of Moving Greater Boston and a Vice President of Berkshire Hathaway Home Services Warren Residential. After graduating from UMASS Amherst with a degree in psychology in 2008, Josh dedicated five years to social service work on the North Shore before joining Berkshire Hathaway in 2013, where he found his professional calling and quickly distinguished himself as a motivated innovator capable of synthesizing the needs of buyers, sellers, investors, and developers. In just a few short years, Josh formed Moving Greater Boston and achieved over $100 million in sales after only 7 years in the business. Josh's team has been consistently recognized at both the local and national levels, receiving numerous prestigious awards for sales and customer service. Last year, the Moving Greater Boston team was awarded the coveted Chairman’s Circle Platinum award for all of Berkshire Hathaway Home Services, which recognizes agents and teams that are in the top 1% for sales across a network of over 70,000 agencies. In 2017, Josh was also personally selected to serve on the Berkshire Hathaway Home Services National REthink Council, an honor bestowed upon only 15 agents among thousands of applicants. Despite his many and ongoing successes in the world of real estate, Joshua has never lost sight of his social work roots. A compassionate and principled professional who knows the value of strong communities, Josh continues his advocacy outside of the office by being actively 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 aspiring entrepreneurs. As a native of Massachusetts, Joshua has an intimate knowledge of Boston real estate, while having a degree in psychology helps him to understand each of his clients' unique needs, enabling him to connect them with ideal communities, an opportunity which he considers both a priority and privilege. Rather than simply facilitating the buying and selling of property, Josh views his role as a realtor as a lifelong commitment to continually serving the best interests of the people who have put their trust in him. Josh continually strives for excellence in service, provides in-depth knowledge of the market, and blends unwavering integrity with amenable good humor to alleviate the stress of real estate transactions and assure the experience is one that lets the sensation of being in the perfect place, at the perfect time, truly resonate.