Boston real estate is determined by supply and demand. There is a high demand for housing in our city due to our world renowned universities and hospitals. As long as there is a high demand for housing and the supply is limited… prices will continue to rise. We have a finite amount of land so developers are forced to be creative and build upwards or convert multi-families into individual condominiums.
Interest rates are relatively low so there are more buyers on the market so the competition is heavy
Price increases when you have multiple people applying for the same property. If you want an apartment or a house, you will increase your offer price to ensure you beat the competition.
In short, prices will continue to rise until supply meets demands.
For more information on the Boston Market or to connect with one of our agents please call 617-297-8641 or email us at contact@Mandrellco.com