The Commonwealth Blog

Wednesday, April 30, 2014

A Tight Market in the Boston Area

In a recent blog post we wrote about all the reasons why spring is a fantastic time to sell your home in Boston. All those reasons still hold true, but many Boston home buyers are finding it difficult to buy their new dream home this year. It’s a sign of how fierce the Boston housing market is and how great the housing needs of the area are that buyers are having a difficult time during this peak seller’s season.

Low Inventory

The frustration of low inventory has been the story of the year in the Boston area, and it doesn’t seem to be changing anytime soon. Even as prices rise and the market becomes more appealing to sellers, few are budging. Many are reluctant to go searching for a new home when there are so few on offer. House prices are even rising above their prerecession highs. Of course, in some areas home prices are lagging, leaving home owners waiting for prices to rise so they get the best price for their home. While this may make sense for these home owners, with construction sluggish in Boston, it makes life far more difficult for those trying to buy their first home or simply a new home elsewhere.

To find their dream home in this market, Boston buyers need to act quickly and have a great realtor to get them in the door when homes hit the market or subdivisions sprout up. It’s important that someone looking for a new Boston home knows exactly what they want and what is and isn’t negotiable on their features list and in their budget. Being open to longer commutes and new neighborhoods is also important for someone looking for a Boston home during this low inventory period.

 

Buying a Boston home this spring is not impossible, and Century 21 Commonwealth has a team of fantastic realtors who can help you find the perfect home in a variety of areas in and outside the Boston metro area. Contact Century 21 Commonwealth and let us know your needs today.


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