The Boston real estate market is currently experiencing significant challenges, with a noticeable drop in home viewings and activities resembling off-peak seasons. Buyers are hesitant, particularly regarding buyer-broker contracts. Open-house attendance has dwindled to alarming levels, signaling potential shifts to a buyer's market where negotiation power leans towards buyers. The impact of the coronavirus is expected to exacerbate existing issues, such as the ongoing lack of affordable housing, particularly in downtown Boston, where demand continues to outstrip supply despite these recent challenges.
In a buyer's market, there are more homes for sale than buyers, giving buyers more negotiating power and potentially lower prices.
I've been to several open-houses when nobody attends, which is unsettling for Boston condo for sale agents and sellers alike.
The downtown Boston condo market was facing a huge challenge with a lack of affordable housing, particularly critical for those thinking of buying or selling.
The recent economic implications of the coronavirus are likely to be widespread, and devastating for the Boston real estate market.
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