#condo inventory

Boston Housing Market Snapshot for 2026Two forces define Boston’s housing market in 2026: persistent competition and only modest relief on supply.Boston remains intensely competitive, with homes averaging two offers and selling in about 23 days. Inventory is loosening, but only slightly. Redfin gives the city a Compete Score of 100, underscoring just how fierce buyer demand remains.Zillow counted 2,407 homes for sale and 890 new listings in June, while citywide supply stood near 6.9 months. Even with some improvement, inventory growth has not been enough to shift leverage away from sellers.Financing still constrains demand. A median-priced metro home required nearly $200,000 in annual income, and 30-year mortgage rates averaged 6.47 percent in June.Even with easing rates, monthly payment pressure remains significant.Long-run strain continues beneath the surface. Greater Boston still needs 28,000 homes to reach healthier vacancy levels and 121,000 additional homes over ten years.Remote preferences and zoning reform remain central to how supply may gradually respond.Boston Home Prices Show a Split MarketBoston’s price story is fracturing into separate market realities. Strong competition continues for lower- and mid-tier homes, while higher-end listings face slower demand.Recent sales show a bifurcated market shaped by buyer preferences and neighborhood divergence. Citywide, homes averaged two offers, sold in 23 days, and reached a median price of $860,000, up 2.9 percent year over year.Most homes sold near asking, with a 0.994 sale-to-list ratio. About 33.6 percent of sales closed above list price.Similar prices can perform differently depending on property type and location.Boston’s condo market is also being reshaped by a 29% inventory swell, giving buyers more negotiating power and pushing some sellers to adjust pricing.The upper tier tells a different story. Homes above $2 million in places such as Lexington, Weston, Dover, and Newton often take 60 to 110 days to close.They may also sell 3 percent to 8 percent below asking.Boston Housing Market Inventory Is RisingSupply is now rising across the Boston housing market, adding a new layer to the split conditions seen in pricing.June 2026 listings climbed 11.6% from a year earlier to 13,520, the highest June level since 2020. That outpaced the 4.2% national increase, while new listings rose 15.5%, reflecting stronger seasonal listings.Condos Lead the ShiftCondos remain a major source of added supply. Boston condo inventory jumped 37% year over year in May, with other updates showing smaller but still notable gains earlier in 2026.That increase has fueled condo glut concerns in some pockets, even as it mainly signals a more balanced buyer environment.Single-family supply also expanded. June inventory in that segment rose 7.6% to 7,543 listings, extending a three-year recovery from the 2023 low.How Fast Are Boston Homes Selling?Measured across major datasets, Boston homes are still selling faster than many U.S. markets. Even so, timelines vary by source and property type.Redfin placed median days on market at 23 through June 2026. Realtor.com showed 37 in June, still below the national 53.Boston.com reported 25 days in May.Well-priced homes often go under agreement in 20 to 32 days. Hot listings can turn pending in under 15 days.Overpriced homes may linger 40 to 60 days or more.Property type also shapes timing. GBAR reported 37 days for single-family homes and 51 for condos in April.This split market makes pricing strategy especially important, particularly when comparing neighborhoods. Competitive conditions are still clear, with two offers on average and 42.1 percent of May sales closing above original list price.What Boston Buyers and Renters Should Watch in 2026In 2026, buyers and renters in Boston are facing a market where small shifts in rates, supply, and neighborhood pricing can quickly change negotiating power.Median sale prices reached $860K, while list prices neared $879K and values stayed elevated.

Chicago Condo Market Trends in 2026Several signals point to a Chicago condo market entering a more restrained 2026, as pandemic-era volatility gives way to normalization and slower, more disciplined price growth.Across the metro area, prices are still expected to rise, with median home values projected to increase nearly 5% year-over-year. That marks a clear shift from the rapid gains and erratic swings that defined prior years. Chicagoland’s median home sale price reached about $365,000 in January 2026, reinforcing price moderation rather than a renewed surge.Cooling Demand, Tighter SupplyClosed sales are forecast to climb 5.1%, even as pending sales weaken across most county and segment groups. This suggests steadier market function, not renewed overheating.Inventory should improve gradually, but supply remains tight, especially for popular condo formats. Buyer demographics are also shifting, while financing dynamics benefit from mortgage rates stabilizing in the low-to-mid 6% range. In other markets, elevated supply has increased buyer leverage, with price reductions affecting a significant share of listings.That stability may support more balanced negotiations overall.Where Chicago Condo Prices Are Holding UpEven as transaction volume weakens across much of the metro, Chicago condo prices are proving most resilient in the downtown core and selected suburban pockets.Downtown resilience remains visibleIn April 2026, the downtown median sale price reached $472,500, up 14% from 2021.The downtown all-units median hit $420,500 in Q1 2026, a 2.4% annual gain.Price per square foot commonly ranges from $400 to above $475.The Loop averages $442 per square foot.This downtown resilience shows value retention despite softer sales activity.At the same time, the West Loop’s 27.7% vacancy rate in Q3 2025 underscores how nearby office market stress can coexist with resilient downtown condo pricing.Suburban appreciation stays intactAcross the broader market, prices were flat to higher in six of eight tracked segments.That trend held even as pending sales fell widely.Suburban appreciation remains evident where buyer preference supports steady gains.Attached units, however, have lagged single-family homes overall.How Low Inventory Supports Chicago Condo PricesTight supply is reinforcing condo prices across Chicago as available listings shrink faster than demand is fading.Chicago condo inventory fell 26 percent year-over-year, while Cook County was down nearly 20 percent and Lake County new listings dropped 37 percent.A mortgage lock-in effect is central to the shortage. Owners who secured low rates in 2020 through 2022 face steep replacement costs if they sell, keeping units off the market.Prices Stay SupportedThat supply-demand imbalance is helping preserve pricing power despite slower deal flow.Chicago condo prices rose 6.8 percent year-over-year to a statewide median of $315,000, while the broader Chicago median home price climbed 7.7 percent to $409,200.Limited choices also sustain competition. Homes still average two offers, and hotter listings can sell above list price within about 35 days.Why Chicago Condo Buyers Are Pulling BackBuyers are retreating from Chicago’s condo market as economic uncertainty, elevated borrowing costs, and growing fears around building-related expenses make deals easier to abandon.Contract fallout is rising. Sixteen percent of pending purchases failed in July, slightly above the previous year, as buyers became quicker to walk when pricing or financing felt misaligned.Agents report economic uncertainty is now a leading reason deals collapse.Costs and Location Narrow DemandAffordability is also being squeezed by high HOA dues, taxes, and labor costs for building staff.In older towers and even 1970s to 1990s buildings, buyers increasingly fear special assessments tied to repairs and deferred maintenance.Demand has thinned across many downtown neighborhoods, while the West Loop captures a larger share of remaining interest.

Ottawa Real Estate: 2015 in Review

Every month we track and SHARE with you Ottawa’s Real Estate Trends. (-usually on the 4th business day of the month-) (Sign up to receive email updates)  

Ottawa’s Real Estate Marketplace ~January 2016 Edition

  During the month of December 2015, members of the Ottawa Real Estate Board sold 703 residential properties,  compared to 638 in November of last year,  an increase of 10.2% in total…