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Greater Boston has one of the lowest shares of single-family homes at risk of selling for a loss, according to a new report from Redfin.
Just 0.6 percent of area single-family houses are at risk of selling for a loss, while just 2.1 percent of condominiums in Greater Boston could sell for a loss.
“A lot of sellers are taking their home off the market rather than reducing their price, with the idea of listing it again next year,” Aditi Jain, a Redfin agent in Boston said in a statement. “They’re not motivated by making money the way they would have been two or three years ago because there’s not as much money to make. Another trend with sellers: They’re accepting offers instantly. If they get one solid offer, they’re signing the contract, canceling other tours and open houses, and trying to close the deal as soon as possible.”
Redfin’s analysis found 5.7 percent of today’s U.S. home sellers are at risk of selling for less than their purchase price, up from 4.4 percent in 2024 as homeowners across the country have jumped to put their homes on the market.
Redfin researchers compared that rate to the Great Recession of the early 2010s, when roughly half of for-sale homes were at risk of selling at a loss.
MLS data compiled by Redfin shows Greater Boston’s combined inventory of active condominium and single-family for-sale listings was up nearly 19 percent year-on-year for the four weeks ending June 22. In Worcester County, the figure is 14.73 percent, while on Cape Cod it’s 20.97 percent and in the Pioneer Valley it’s 6.98 percent.
But the median single-family sale price in Greater Boston grew 4.4 percent in May to $835,000 on a year-over-year baisis, while the median condo sale price stayed flat at $635,000.
Nationwide, the National Association of Realtors reported total nationwide inventory of homes was up 20.3 percent in May, with a 4.6-month supply of unsold inventory.
This could prove to be an opportunity for buyers to get a relative deal on a home, according to Redfin senior economist Asad Khan.
“We are seeing more opportunities for buyers to pay a little less than they would have just a year or two ago. That’s because sellers with significant equity in their homes—and therefore at no risk of selling at a loss—are more willing to be flexible on price,” he said in a statement. “That’s a meaningful shift for anyone who’s been watching and waiting for prices to come down, especially first-time homebuyers.”
The analysis found 16.4 percent of today’s sellers who bought a home post-pandemic are at risk of selling for less than their purchase price, while just 9 percent of today’s sellers who bought a home during the pandemic are at risk of selling at a loss.
“The longer someone has owned their home, the more likely they are to come out ahead, but that’s little comfort for those who bought more recently and may be facing a loss,” Khan said. “Not every homeowner is listing because they want to—some are listing because they have to. In those cases, it’s important to list at a realistic price for the market and be prepared to adjust depending on buyer interest.”
Condominiums are facing the biggest threat of selling for a loss. 9.9 percent of condos nationwide are at risk of losing money. Of American condos bought post-pandemic, 28.7 percent face a threat of selling at a loss.
