Where will 2018 take the Boston real estate market? While no one knows for sure, our agents are all around town everyday and have put together a few predictions. Coming from a strong 2017, people are asking if the trends will continue in pricing and demand. Here are our 2018 Boston Real Estate Market Predictions:
“2018 is going to be an exciting year for homeowners but may not be so great for first time home buyers. The continuing trend of low inventory in conjunction with rising prices will make it tough for home buyers trying to get into the market while great for sellers looking to upgrade.
First time home-buyers may be forced to seek out small pockets of lower priced properties around tow. This is where having an experienced agent who is well versed in the market and educates you on how to make your offers more appealing to the sellers will make the difference between finding a new home or continuing to rent.
My best advice to anyone looking to purchase real estate in 2018 is to work with an agent you have faith in and who has your best interests in mind. Happy hunting!”
“The rental market will continue to stabilize and plateau in pricing due to all the new construction – especially in the Seaport area. Eventually (I hope) this will drive landlords to consider selling or rental buildings to convert to condos versus apartments and alleviate some of the buying demand. However, I feel this will take some time and continue to see a seller’s market in 2018 and for prices to continue to rise especially in the surrounding areas of Boston proper.”
“Demand will continue to stay at the highest it’s ever been, especially with so many companies repositioning in Boston, but I don’t think we will see rents much higher than they were the previous year. Home prices will steadily increase, while rents could stagnate, particularly at the high end of the market.”
“My prediction is that, as the spring market approaches, the Boston proper neighborhoods will still continue to rise in price and sell at a fast rate. However, the surrounding neighborhoods, I believe, will rise in price at an even higher rate and sell even faster!”
“I believe Boston is poised for yet another strong year in 2018. Demand is still far outpacing supply on the condo side, and, though the market should in all likelihood plateau in terms of pricing, I see nice product in desirable neighborhoods still being very competitive for buyers to secure. Rates are still low and our local economy is still growing. There will be some softness in the ultra high end rental space though, as that market is getting slightly saturated with new product.”
“The imbalance in supply/demand is a trend which I believe will continue into 2018. With demand continuing to outpace supply and the market will remain very competitive.”
“My prediction for 2018 is that the supply of homes for sale will approach and reach the demand. As rental prices continue to soar, mortgages for first time buyers will become easier to attain making buying a home a wise investment.”