The Boston Beacon Hill condo market has long operated under the Sellers market approach. I’ve been a full-time Realtor since 1998, and it’s basically always been that way. If you’re a buyer or seller, it’s important to get a grip on how this selling pattern will affect the types of offers you write—or the ones you can expect to receive.

One of the ways to figure out which Boston condo neighborhood markets are the most competitive when it comes to multiple offers and interest levels is by seeing how close asking price to selling price and in some cases where overbids are happening most frequently.

Leading the way in the condo market were Beacon Hill, Back Bay and the high rise condos in downtown Boston.

If you’re aiming to buy a Boston condo in one of the more competitive neighborhoods, like Beacon Hill, make sure to leave enough room for overbidding. And if you’re about to put your Boston condo on the market for sale, best to list lower than your expected sale price.

 

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