Boston Real Estate Blog, Boston Condos » Boston condo price reductions

Stats: Boston condo price reductions for last three months

John Ford — Wed, 03 Nov 2010 13:14:41 +0000

Click chart to enlarge.

Boston condo price change summary

Total number of Boston condos with price reductions in the last three months: 1,167

The average Boston condo price change in the last three months: -6.41%

Total reduced dollar amount in Boston condo list prices: $2,555,000.00

Boston Real Estate -Sellers See Slight Improvement

Ford Realty — Wed, 21 Apr 2010 16:53:00 +0000

Earlier today, Trulia.com came out with a report regarding U.S cities with real estate “asking price” reductions. The report compared price reductions in April 2009 with April 2010. Here are the results for Boston:

April 2009 28% of listings had a price reduction.
April 2010 26% of listings had a price reduction.

The average price reduction in April 2009 – 8%
The average price reduction in April 2010 – 6%

Housing boom goes bust in finance crisis

Ford Realty — Fri, 25 Dec 2009 12:08:07 +0000

From the Boston Herald:

The decade began sweetly as sales of single-family homes and condominium set records. But it ended on sour note.

“We experienced a dramatic housing boom from 1999 through 2005,” said Harold Petersen, an economics professor at Boston College. “But the housing debacle has driven sales down to their lowest levels in years.”

While 2009 is expected to close with sales of nearly 59,000 single-family homes and condos, that number is 34 percent below the peak of 1999 when housing purchases topped 90,000, according to the Warren Group, the real estate market tracker.

Boston real estate – read the complete article.

The Negotiability Index

Ford Realty — Tue, 28 Jul 2009 18:46:23 +0000

Here’s a question. Should real estate agents provide an “Irrational asking price index”? This would be an index that represents the difference between what a seller hoped that they would get for their home, and what they actually obtained after months of price reductions. If you’re a seller perhaps a better name would be the “Disappointment Index”

The folks at Redfin have provided us a chart where buyers are currently obtaining the largest discounts off the asking price.

Falling real estate prices prompt renters to buy

Ford Realty — Thu, 23 Jul 2009 10:03:38 +0000

From the Boston Globe:

For Americans debating whether to buy or rent their homes, the scales are tipping toward ownership. Because of the slide in home prices, low interest rates, and tax incentives, renters are realizing they could handle a mortgage for a just little more money.

An Associated Press analysis of 45 metro areas finds the gap between the monthly mortgage payment on a median-priced home and the median rent has shrunk from $777 a month to just $221 in the past three years.

It could mean a quicker end to the housing-market doldrums, as renters buy up unsold homes languishing on the market.

Read the full story – Boston Globe