As I'm sure you know Low Inventory has been the buzzword in the real estate industry for the last year. South Boston is no different and despite a surge of new listings last fall the market cannot keep up with buyer demand. Long story short, South Boston's real estate market needs your home!
The chart below shows the inventory in South Boston over the past 6 years. It is an incredible story of how a neighborhood's market can take off in a very short amount of time and how inventory can dry up. We get new inquiries daily from new buyers in South Boston and unfortunately there is not enough inventory to keep up with these buyers.
As you can see from the chart we had only 69 listings on February 1st of this year. Compare this to 2009's neighborhood inventory of 223 and you can quickly see how amazing the transformation in South Boston has been. Last year saw the inventory bottom out at 43 listings on market with this year showing a slight bounce back at 69 active listings due to the new developments in the neighborhood.
Even with the slight increase this year the market simply can't keep up with the buyer demand. Developers are continuing to put beautiful new condos on the market, however, there is a severe lack of resale units available.
Have you considered selling your home in South Boston? Now is time to take advantage of the historic prices and seller's market. Click here to get a free consultation and price analysis for your South Boston home from a local agent.