Boston condos for sale and the stale factor
Boston condos for sale and the stale factor
I think most Boston condo for sale agents would agree that once their new listing has been on the open market – and no accepted offers – for two weeks, the action dies down considerably. They become stale listings.
Then the Boston condo showings, if any, become vague and laborious because all of the motivated condo buyers have already seen it and passed. All that’s left is the occasional newcomer to the game who just begun their journey of learning the market.
The only thing left to wonder is whether there will be any negative impact from unsold listings stacking up everywhere. Will it bother the buyers who are still engaged?
Will they forget all about them, or will Boson condo buyers come back later to the stale listings with a lowball offer?
What defines a stale listing?
To me a stale listing, is a condo that’s been on the market for 40 days or more. So, how many downtown condos have been on the market for 40 days or more? Let’s break it down by neighborhood.
Average Back Bay condos for sale days-on-market – 55 days
Average Beacon Hill condos for sale days-on-market – 44 days
Average Midtown condos for sale days-on-market – 95 days
Average Seaport condos for sale days-on-market – 69 days
Average Waterfront condos for sale days-on-market – 57 days
Average Charles River Park condos for sale days-on-market – 157 days
Ford Realty Inc., Boston Real Estate for Sale
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