Booming Markets: Greater Boston, Cape Cod and the Islands
Despite recent uncertainties due to the COVID-19 crisis and the pending presidential election, the luxury real estate markets in eastern Massachusetts still appear to be strong. Indeed, the tendency toward remote work and school has fueled demand for larger, more lavish homes — in Boston, the suburbs and traditional second home locations on the Atlantic Ocean.
While Bostonians generally aren’t giving up their urban apartments, many are looking to spend more of the year telecommuting from second homes on Cape Cod, Martha’s Vineyard or Nantucket. Demand for homes there continues to grow, while supply dwindles.
In Boston, developers favor condo units in smaller buildings, but some of the larger structures that had been slated for at least partial condo use are now being developed as luxury rentals, which many…