The temperatures are cooling, but the Boston real estate market is not! This month, Nick talks about how buyers can best navigate the market if they want to purchase before the end of 2021. He also gives some strategies sellers can utilize to get top dollar during this competitive time.

For buyers looking to make a move before the end of the year, what pieces of advice do you have for them?

For those looking to purchase before the end of the year, whether for personal or financial reasons, one of the biggest things you should plan for is the amount of time it takes to close in real estate. 

Typically, you can expect the actual closing to happen somewhere between 30 and 60 days after putting a property under agreement.  This time frame can be

One of the major storylines over the last year is how well the residential real estate market performed. One key metric in the spotlight is home price appreciation. According to the latest indices, home prices are skyrocketing this year.

Here are the latest percentages showing the year-over-year increase in home price appreciation:

• The House Price Index (HPI) from the Federal Housing Finance Agency (FHFA): 18.8%
• The S. National Home Price Index from S&P Case-Shiller: 18.6%
• The Home Price Insights Report from CoreLogic: 18%

The dramatic increases are seen at every price point and in all regions of the country including New England and the Boston areas.

Increases Are Across Every Price Point

According to the latest Home Price

Mortgage rates are hovering near record lows, and that’s good news for today’s Boston homebuyers. The graph below shows mortgage rates dating back to 2016 and where today falls by comparison.

Generally speaking, when rates are low, you can afford more home for your money. That’s why experts across the industry agree – today’s low rates present buyers with an incredible opportunity. Here’s what they have to say:

Sam Khater, Chief Economist at Freddie Mac, points out the historic nature of today’s rates:

“As the economy works to get back to its pre-pandemic self, and the fight against COVID-19 variants unfolds, owners and buyers continue to benefit from some of the lowest mortgage rates of all-time.”

Mark Fleming, Chief Economist

As summer winds down, Nick looks at the unique real estate market in the Boston area so far this year. He also discusses some upcoming projects and new construction that he is excited about in Boston.

What new construction projects in the city should buyers know about?

There are many great new luxury condo developments in the works here in Boston, but here are two that I’m most excited about seeing!

St. Regis Boston Residences

This new luxury highrise in Boston’s Seaport District is getting a lot of attention already.  It will feature 114 residences with many different floor plans to choose from.  The floor-to-ceiling windows will allow residents to have some of the most spectacular waterfront views in Boston.

Raffles Boston Back Bay

Home prices continue to rise as we move through the summer, and that’s good news for sellers in the Boston area who are looking to maximize their home’s potential. If you’re on the fence about whether to list your house now or later, the question you should really ask is: will this price appreciation last?

Here’s what three leading industry experts have to say about what lies ahead:

Lawrence Yun, Chief Economist, National Association of Realtors (NAR):

“At a broad level, home prices are in no danger of a decline due to tight inventory conditions, but I do expect prices to appreciate at a slower pace by the end of the year.”

Selma Hepp, Deputy Chief Economist, CoreLogic:

“The imbalance between robust demand and dismal

Sometimes it can feel like everyone has advice when it comes to buying a home. While your friends and loved ones may have your best interests in mind, they may also be missing crucial information about today’s housing market that you need to make your best decision.

Before you decide whether you’re ready to buy a home in the Boston area, you should know how to answer these three questions.

1. What’s Going on with Home Prices?

Home prices are one factor that directly impacts how much it will cost to buy a home and how much you stand to gain as a homeowner when prices appreciate.

The graph below shows just how much experts are forecasting prices to rise this year:

Continued price appreciation is great news for existing homeowners but

As we move into the second half of the year, one thing is clear: the current real estate market in Boston is one for the record books. The exact mix of conditions we have today creates opportunities for both buyers and sellers. Here’s a look at four key components that are shaping this unprecedented market.

A Shortage of Homes for Sale

Earlier this year, the number of homes available for sale fell to an all-time low. In recent months, however, inventory levels are starting to trend up. The latest Monthly Housing Market Trends Report from realtor.com says:

“In June, newly listed homes grew by 5.5% on a year-over-year basis, and by 10.9% on a month-over-month basis. Typically, fewer newly listed homes appear on the market in the month of

It’s hard to believe that 2021 is half over! This month, Nick talks about how he sees the next half of 2021 playing out in the Boston real estate market. 

What will it be like for buyers looking to make a purchase and sellers looking to sell around the Greater Boston area? 

And, what can we expect to see in the rental market through the end of the year?

For buyers and sellers looking to make a move by the end of 2021, what do you think they can expect?

Most predictions I’ve heard are stating that the market will remain strong with low inventory and high buyer demand, which I agree with.  There has been additional inventory coming on the market over the past few weeks, which has helped things a bit. Historically speaking, we still see only

There’s no denying we’re in a sellers’ market. With low inventory and high buyer demand, homes today are selling above the asking price at a record rate. According to the latest Realtors Confidence Index Survey from the National Association of Realtors (NAR):

• Homes typically sell within 17 days (compared to 26 days one year ago).
• The average home sold has five offers to pick from.
• 54% of offers are over the asking price.

Because so many buyers are competing for so few homes, bidding wars are driving up home prices. According to an average of leading expert projections, existing home prices are expected to increase by 8.9% this year.

Yet even in today’s red-hot sellers’ market, it’s important to price your Boston home right.

What is it like to sell your home during this competitive and crazy market? Nick talks about some transactions over the past few months to highlight how the inventory shortage impacts sellers. He also gives tips for how sellers can be competitive and sell for top dollar in this market.

What have you seen in recent transactions that is unique to the market right now?

I've written about this before, but the unique thing we have been seeing in transactions right now vs. a regular balanced market is that buyers have become so frustrated with losing out on offers that they are willing to take on significant risk by removing contingencies.  The most important thing when considering this as a buyer is that you know what those risks are.  I wrote a