Boston Condo Market at a 5-Year Low: What Buyers, Sellers & Landlords Need to Know

The Boston real estate market, especially within city limits, is facing a significant slowdown—arguably the slowest we’ve seen in the past five years.

As of today, there are nearly 1,500 condos listed for sale on MLS across Boston. That’s a staggering amount of inventory—representing over five months of supply. To put it in perspective, the number of condos that have closed so far in 2025 is down almost 42% compared to this point in 2021. While the average sale price has held strong (or even increased in some pockets), unit volume is down and inventory continues to pile up.

This isn’t just a sales-side issue either.

The rental market is also softening—fast. In neighborhoods like South Boston and East Boston, which have long been considered highly competitive rental zones, hundreds of apartments are sitting with little to no activity. Units that would’ve rented in days just a couple of years ago are now going weeks without inquiries. Higher price points are being met with resistance, and landlords are starting to offer concessions—or slash rents altogether—to fill vacancies.

With mortgage rates still lingering in the 6% range, the outlook for the summer and fall is increasingly challenging. If inventory continues to rise and demand remains flat, we could be in for a tough season, particularly for sellers and landlords banking on a hot summer market.

What This Means for:

→ Buyers:
There’s more negotiating power right now than we’ve seen in years. If you're in a position to buy, this could be your moment to lock in a deal—especially on properties that have been sitting.

→ Sellers:
Pricing strategy is everything. With more competition and fewer buyers, homes that aren’t priced correctly are sitting—and price drops are becoming more common.

→ Landlords:
It may be time to rethink your asking rent or sweeten the offer with move-in deals or flexible terms. Tenant demand has cooled and competition is fierce.

We’ll be keeping a close eye on how this develops, but if you’re thinking about selling, buying, or renting in Boston right now, let’s talk strategy. The right move today could save you thousands—or make you thousands—in the months ahead.