Okay, Boston condo sellers here’s where we are.
Boston Condos for Sale and Apartments for Rent
Okay, Boston condo sellers here’s where we are.
Boston condo owners are the least likely sellers in the country to lose money if they put their condominium on the market, according to a new study.
The study, which was conducted by the real estate company Redfin, analyzed real estate data from 50 of the most populous metro areas in the U.S. to get a sense of current market trends.
Boston came in second closely behind San Diego which had lowest share of homes sold at a loss — only 1.1%, the study found — over a three-month period that ended in July 2023. Homeowners in Boston, Providence and Kansas City came close behind San Diego, according to Redfin — all reporting a share of sales that came under the seller’s original purchase price of about 1.2%.
Nationwide, the share of homes sold for less money than they were purchased was around 3%.
Updated: Boston Real Estate Blog 2023
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There are three types of sellers:
Sure, I’m motivated…. if I get my price.- I’ll sell for what the market will bear.
- Desperate.
Unless your Boston condo for sale is a real trophy property, this isn’t the market that tolerates aspirational Boston condo sellers. For those who will only sell if they get their price – you should wait this out….and it could take a while.
Boston luxury condo sales
The high-priced listings might get showings, but mostly to Boston condo buyers who are considering the better-priced home down the street. It will take another six months and some boost from a strong 2023 spring selling season before the listings priced at retail-plus will start selling again. And that’s probably optimistic.
Boston condo for sale market 2023
I still think the 2023 Spring Selling Season will be boisterous, and the sales volume will pick up – but generally-speaking, I agree with Zillow that pricing won’t be rising.
