📈 Boston Real Estate in 2024: Buy, Sell, or Wait? Find Out! | Moving to Boston | Living in Boston

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Welcome to an in-depth analysis of the Boston real estate market as we venture into 2024! I'm your local Boston real estate agent, Mike Urban, bringing you the latest insights and strategies for navigating this dynamic market.
Whether you're a buyer, seller, or investor, the real estate landscape has been nothing short of a roller coaster in recent years. From the record-setting pace in 2019 to the unpredictability ushered in by the pandemic and the Federal Reserve's interest rate hikes, understanding these shifts is crucial.
In this video, we'll dive into the critical factors shaping the Boston market, including inventory challenges, interest rate impacts, and the unique dynamics of the Greater Boston area. We'll also discuss how to plan for 2024, with strategies for buyers and sellers in this competitive environment.
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Mike Urban, Boston Realtor - License #1000776
eXp Realty Boston

[@classicrise1]

right on.

[@mikeurban]

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[@tpmarkham]

Not that we are selling, but in my town of Lancaster, MA, there are only 3 houses for sale. Towns all around us have maybe 2 to 5 homes for sale. Honestly don't know how young families can afford the prices right now if they can even find a decent home. Great channel.

[@mikeurban]

Appreciate you checking out my channel! Yes, It's difficult out there. I feel so bad when people call and ask what they can get for under 400k because it's not much. Home appreciation has accelerated at monumental rates but job income has not sadly

[@EdensApple80]

My husband took a promotion in the Cleveland Circle area but we can’t sell our home in RI. Trying to find apartments in Boston in our price range $1500 is impossible. 😢 Times are so different than 20 years ago.

[@mikeurban]

Why can't you sell in RI? Is it on the market and just not selling? $1500 is difficult here for sure, but west of Boston it can be a bit easier or even north in NH

[@daviddaugherty1011]

We live in Beverly in the north shore area. I've been watching listings and sales for 3 years. The prices for either renting or buying are untethered from the economic reality of local incomes. It's like we're in the east coast version of San Francisco. Sometimes I think we may end up with the choice of being permanent renters or leaving the state.

[@jeffersonjohns6397]

You’re an excellent salesman. After watching this video, I’lm anxious to purchase a home in the Boston area. Ironically, that wasn’t my initial intent.
Let’s all keep the following in mind: “The most recent data suggests to many investors that inflation could be more persistent than they had been hoping for and that interest rate cuts may be further away than previously expected.”
When interest rates drop, it’s a very firm indicator that the economy is tanking. Otherwise, it’s in the Fed’s best interest to ensure that rates remain the same. Given this information, we’re seeing numerous locations, across the US and parts of MA, begin to decrease in value. Those that previously did well, aren’t experiencing the same luck. So, will Boston remain immune and stay within a bubble? Only time will tell. Proceed with caution.

[@mikeurban]

Normally long term any purchase around the Boston area will yield excellent YOY appreciation.short term is more risky. We looked at the recent CPI report and it told a story of slight increase in inflation so I'm sure rates will stay on the higher end. I personally don't see any major changes until after election. Rates are going to up and down from now til then but probably hover anywhere from 6.6 - 7.2%ish. of course this is just speculation. Either way appreciate the sub and comments!

[@donnariviello902]

Great video-Thanks!

[@mikeurban]

Ty!

[@certinho76]

He said, "AWWAYS!!!"