You may already know this, I apologize for stating the obvious, but It’s not a great time to put a Beacon Hill condo on the market, but some Boston condos owners may need to do just that. Unexpected financial changes sometimes require a home sale. If you’re thinking about listing your Boston condo for sale, it’s important that you understand the Multiple Listing Service (MLS) options so you can decide the best way to market your Beacon Hill home or handle any complications that may arise during what are very uncertain times.
Let’s start with the different types of status listings that are available on the local MLS:
Active real estate for sale
If an agent places a Beacon Hill condo on the MLS, it typically becomes an “active” listing and is also published to syndicated sites such as Redfin, Zillow, Realtor.com and others.
Given the current economic environment, this may not be the best route to go during this coronavirus outbreak. An active listing immediately starts the clock on days-on-market an important metric—“days on market” (DOM). Beacon Hill condo buyers consider the DOM when they’re discussing with their buyers agent how much to offer. A Beacon Hill condo with a long DOM may indicate a lack of interest, with that said, I would think this metric is not as important given the current situation. But be aware that there are currently 40 (give or take) active Beacon Hill listings in the MLS, the average time on the market is 100 days.
Temporarily Withdrawn real estate for sale (WDN)
These are listings that were active, but which the broker temporally withdrew. In this case, the listing is not active and are not adding up days on market, when a broker switches the status back to that of an active one, the days on market will then resume accumulating.
Real estate for sale Coming Soon (CSD)
This is a good way to get buzz around your listing by allowing agents to see the details & photos prior to the listing becoming active. Coming Soon listings don’t appear on syndicated sites. Many agents are putting listings into the Coming Soon status during the cornavisurs outbreak, with the idea that they will officially launch them afterwords. What will happen next, no broker can tell you because, the future is unpredictable
I hope this helps. Should you like more information on how the Janet Lamb Team of Ford Realty Inc., can help you market your Beacon Hill condo, please complete the form below.
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If you’re seeking advice on how to market your Beacon Hill condo, or to purchase one in this unique enviroment, please complete the request form below.
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