Charles River Park condos for sale
As a Charles River Park condo homeowner, the toughest downtown Boston real estate question is always “When should I list my Charles River Park condo for sale?” Depending on who you ask, the answer might depend on global economic factors or something as simple as the time of year.
Professional downtown Boston real estate agents rely on the Market Comp Reports published by the Regional Multiple Listing Service, and you should too. By looking at 2018, it’s clear that 2019 will outshine the past few years as the ideal time to list a Charles River Park condo for sale. Here are three quick reasons why:
Boston condo prices are up, but leveling off.
The Market Comp Report for December gives a picture of the whole year’s activity on home prices. We can see that last year, the median home sale price went up in December 2018. That’s a good indicator for the our new year. Zillow also reports that Boston-area home values went up more this year and the upward trend should continue thru 2019.
Will this growth last forever? Don’t count on it. The downtown Boston real estate market is definitely strong, but those who wait around might end up kicking themselves later when the market takes one of its cyclical downturns.
Inventory is low.
As I explained last month blog post, inventory – or the number of months it would take to run out of Boston condos for sale at the current rate of sales – is a good indicator of where the market is going. In 2018, the downtown Boston real estate market saw a drop in inventory. Low year-end inventory is normal, but overall the numbers this year have been lower than in the last two years. That’s a good thing for Charles River Park home sellers. With inventory low, your home is more likely to get noticed, and buyers are aware that low-ball offers are less likely to be accepted.
Time spent on market is leveling off
Another useful metric that the MLS Market Comp Report keeps track of is the average amount of time in days that a Boston condo for sale spends on the market before being sold. Boston Charles River Park sellers should be prepared for things to start happening quickly as we approach the Spring season. Once they call their local Boston downtown real estate agent and put their home on the market it will move quickly.
There you have it, numerical evidence that 2019 could be the best year to come around in a long time for you to sell your Charles River Park condo.