Anyone actively looking to purchase in the Greater Boston real estate market is fully aware that the largest obstacle has been the lack of inventory. While many prospective buyers are hopeful that this trend will change, data has shown that inventory levels continue to fall. January has proven to have the smallest influx of new properties in over a decade. On the flip-side home prices have continued to increase throughout Boston, mainly due to the strong demand and low supply. One corner of the real estate market which is seeing a polar opposite reaction has been rentals. Apartments, especially older properties, are taking longer to find tenants and are leasing for lower prices than they were previously. A great deal of new construction citywide has been for apartment complexes which increases overall rental inventory and diminishes the achievable rents for older properties.
With a relatively mild winter prospective buyers are hopeful that the typical influx of new listings for the spring market will come sooner than later. That being said there is no question the competition for these properties will remain high. In this competitive environment it is paramount to be well represented by a strong buyer’s agent who is looking out for your best interest and able to put the deal together. CL Properties has represented hundreds of buyers in this highly competitive market with great success.