Boston Condo Market Report

The red hot real estate market in Boston is finally cooling off as we head towards the end of 2022. After a decade-long period of record growth, soaring inflation and rising interest rates have effectively put a chokehold on demand for Boston real estate. Year-over-year total sales for all property types in Boston have been in the red for 10 consecutive months now, the longest span since 2010. Even more concerning is the fact that total sales have dropped by margins below -20% for the past 4 months, indicating the demand destruction is accelerating.