Everything you are reading regarding the Boston condo market talks about low inventory and multiple offer situations. It makes sense that this would drive prices up.

So the question is:

Should you sell your condo now or hold off for a while to get an even higher price?

It depends mostly on what your plans are for moving once your condo is sold. If you are upgrading in the same area or moving to an area with similar market conditions, you need to consider your next purchase.

Lets say you are selling your Boston condo for $400,000. If you wait until later this year and the market shows a 2% increase you would make an additional $8000. This is using straight math and not taking any costs associated with selling into consideration.

Sounds great right?

Except if you are buying up. If you took your proceeds and purchased a condo for $600,000 with a 2 % increase, it would cost you an additional $12,000!

It is important to really think about what you want and your reasons for moving before making a jump. This is why having a dedicated buyer’s agent can help!