is it a crazy time to sell??

[Bridge781]

I don’t foresee unmarried millennials heading to the suburbs. The ones who are married with kids who chose to pay 800k for a 1500 sq ft home in west Roxbury or Dorchester night decide to do that. The only reason to live in one of those areas if you have kids is a shorter commute.

[bugelrex]

Originally Posted by Bridge781

I don’t foresee unmarried millennials heading to the suburbs. The ones who are married with kids who chose to pay 800k for a 1500 sq ft home in west Roxbury or Dorchester night decide to do that. The only reason to live in one of those areas if you have kids is a shorter commute.

If we are going to be spending more time at home(work from home more, going out less)... that small 800sqft apartment is going to feel claustrophobic to even the most die hard millennial...

[Bridge781]

i Don’t think most people know what their working situation is going to be like right now. But if folks were on the fence about moving out of the city I’d say this is a big reason to do it.

[Shrewsburried]

Originally Posted by MikePRU

It's hard to predict these things, but everyone loves to claim they were right when they're looking in the rearview mirror.

For years, many people were writing articles that millenials will never move to the burbs and it will send home prices crashing as boomers downsize. Never happened. Now some folks are saying the population is going to be fleeing the urban core for more space inside and outside in case of a future lockdown or from fear that it's easier to spread a disease in a more densely populated area. We'll see. A lot of these predictions tend to be more gentle undercurrents than tidal waves.

The pandemic was not really the basis of my very light weight "thesis".

It has more to do the current status and valuations of each market and shifting demographics. Next recession, Lexington will be in the same spot it always is - a blue chip Boston 'burb with excellent job access and schools. Somerville will be in a very different spot than it was in '09 or '01 - valuations have risen fast clip and demographics are about to shift older for at least the next decade or so. Despite the claims of a certain poster on here, the schools remain burdened by the significant strain of the have-nots still struggling to exist within a high COL city. Can the euphoria sustain? We'll see ...

[Shrewsburried]

Interesting data. Apparently I'm a permabear when it comes to RE, because few others seem phased. We'll see I suppose.

[wolfgang239]

Credit is tight right now too, so those who are serious about buying are well qualified. Coupled with the supply side issues it is certainly an interesting situation and will continue to be unpredictable with so many moving parts. That is a definite V from where I'm sitting though.

There is some great data here:

https://www.redfin.com/blog/data-center/

[matrix5k]

I saw one of those charts that realtors post about sales data last month vs April 2019. # of homes listed, average list price, average sale price etc have all gone down a little bit. But interestingly, average time on the market is almost half as long (around 60 days to 30 days).

[BostonMike7]

In my neighborhood, the market has not gone down as much as I thought it would (so far). Less homes are listed for sale, but it appears the better quality homes are still going pending within a short time period. I would imagine 2 weeks or less means the offer was at or near asking price.

I still anticipate any sort of major housing drop to occur if the layoffs were to extend to WFH white-collar individuals. Those tend to be who are predominately buying/selling these particular homes.

[mdovell]

Unemployment for the state is about 25% even affluent areas have 20%

https://pioneerinstitute.org/news/wh...e-to-covid-19/