website accessibility

Boston midtown condos for sale

Today, I’ll share some of my thoughts on the Boston condo for sale market as it relates to 2019. Some good news — and some bad news.

  • The good news? The regional economy is strong, jobs are up and Boston’s population is growing
  • The bad news is we aren’t building affordable Boston condos
  • The result, Boston downtown condo prices are exceeding $1,000 per sq ft in almost all Boston neighborhoods. In some areas such as the Boston Seaport they are exceeding well over $2,000 per sq ft.
  • It’s no surprise that economists are forecasting housing affordability issues into downtown Boston’s future.
  • According to economists, current housing prices are unsustainable over the long run. Prices could drive young working people away — decreasing Boston’s economic base.
  • Boston luxury condo for sale inventory in increasing tremendously. Eventually, will lead to downward pressures nn the luxury market.
  • Construction costs are also rising, from lumber, steel, steel & labor.

Conclusion

Overall, if the city can con continue to build more Boston midtown condos for sale, prices could simmer down — but generally speaking, economists expect to see a slowing housing market in Boston over the next few years.

Stay tuned.