Over this same period of time, the number of units sold hit its nadir in 2011 at 3,548, while the most sales were booked in the previous bull market of 2005 (4,687 total sales). In 2019, 4,372 units were sold (7 percent less than 2005 but 23 percent higher than 2011). Overall, the for sale inventory has remained relatively consistent over the last 15 years with an average of 4,250 sales per year.
Ultimately, the spring 2020 real estate sales market appears like it will be wiped out. With social distancing and isolation the themes of March and April, sales (and construction) will take a back seat until at least May and more likely June. At that point, the pent up demand for purchases (and sales) may be real but the impact this period of inactivity has on the economy is still to be determined. We will continue to monitor the economic and public health impacts from COVID-19 in its relation to the Boston Real Estate market and provide daily updates on any and all new happenings on our website. Stay well!