Don't say you did not have fair warning...
If you have read our blog posts over the past year you would know that inventory in the Downtown Boston market was getting tight. If you work with one of our associates you would have access to the data from our weekly reports showing the increase in sales velocity and volume and decrease in new available properties for sale. Here are a few of those posts:
1/27/2012 Inventory is the issue in Downtown Boston Condominium Market
6/01/2012 Boston Condo Inventory at decade long lows
8/21/2012 Low inventory of condominiums for sale keeps upward pressure on prices
1/11/2013 Slim Pickings and Silver Linings....Inventory down 46% in Downtown Boston
Now we have what the Boston Globe describes as "a common pattern this spring: There are too many potential buyers and too few sellers, resulting in bidding battles in many Boston-area neighborhoods. And that, in turn, is starting to drive up prices overall." Isn't that what we have been saying for well over a year now? Don't expect much relief if your a potential buyer, there is no new inventory being created in the for sale market right now so expect continued upward pressure on prices. Like Charles Barkley says: "I may be wrong....but I doubt it."
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