The Boston luxury condo market was strong in the fourth quarter, but the single-famoly market showed signs of softening.

A look at sales data from the past quarter is a great indicator of how the 2018 Spring market will do. Here’s how 2018 is stacking up so far:

Boston condo: Buyers embrace overbidding
As stated in one of my earlier posts, 40%  offers submitted were over asking citywide and all indications it will continue into 2018.

This extreme overbidding happened most frequently on Boston condos under $500,000 and those listed  $1,000,000 and above, in neighborhoods like Back Bay, Beacon Hill and Downtown/Midtown.

Boston luxury condos listed for under $2,000,000 often saw extreme overbids in high rise buildings

Fixers were also magnets for overbidders.

Condos:  Longer days on market

Days on market—the period of time it takes for a property to go into contract from the date it’s listed—increased year-over-year from 30 days (4th Q 2016) to 56.75 days (4th Q 2017).

Contact me  to set up an appointment to start your Boston condo buying process.

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For more information please contact one of our on-call agents at 617-595-3712.

Updated: January 2018

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