How Long Does It Take To Sell A Boston Condo Boston Condos For Sale Ford Realty

Boston condos for sale

how long to sell home portland real estate — Boston condos for sale

The answer is probably a lot longer than you think and with the Boston condo sales market cooling, that number is about to get a lot longer, likely increasing each year for the next few years. Before I get to the answer of how long it takes to sell a Boston condominium, I’d like to quickly mention that these are not my performance numbers. These numbers are from MLSPIN, our local multiple listing service that covers the entire Downtown Boston metro area and produces some amazing reports for real estate agents and others. Also, when I say the average time to sell, this number refers to the number of days or market time before the seller accepted an offer on their Boston property, not the total number of days until closing. The typical Boston transaction takes about 35 days to close after the offer is mutually accepted

Fastest Selling Areas in Boston 2018:

Leather District: 17 days.
South Boston: 34 days.
Charlestown: 35 days.
South End: 32 days

Slowest Selling Area in Boston 2018:

Boston Midtown: 68 days.
Seaport District: 58 days.
Back Bay: 58 days.
Beacon Hill: 57 days.

My thoughts

Overall not bad, but overall Boston real estate market time has continued to increase since 2016 and will increase for the next few years to come. It is also longer than many Boston homeowners are prepared for, since 2012 until perhaps 2017 the Boston real estate market has been exclusively a seller’s market, one of the strongest real estate markets in the country. But it is now cooling fast, the slowdown started in 2017 and it is ramping through 2018. To see what segments of the Boston real estate market are cooling off the most or the least, read our recent article.

Why do all home sellers think their home will sell quickly?

They like it. It was the perfect home for them (they bought it) so it is hard to see why others may not like it.
They got used to a crazy Boston real estate market and are not ready to adjust.
Dollar signs, they really want the money.
They do not realize how many homes that go on the market actually fail to sell completely – don’t sell at all. It is an easy assumption to make that all homes that go on the Boston real estate market sell, but this is not at all true. 22% to 52% of properties that hit the market do not sell at all.

Tips on choosing your next real estate agent:

Don’t pick the agent that gives you the highest price and the longest contract. I’ll let you draw the conclusions there.
Don’t pick the agent that loves your home the most, that may simply be a tactic to get you to choose them and lead to unrealist expectations.
Pick an agent with a proven track record and an aggressive marketing strategy. As the Portland real estate market continues to cool down – you’re going to need it!