Sometimes when a Boston condo isn’t selling the seller will change the price. There are various strategies for marketing a home where the list price has been changed.
One strategy is to call it a price reduction. That implies it was originally priced too high at the start. Anther marketing strategy is stating the condominium has a new price, a strategy that doesn’t emphasis the reduction. My favorite phrase is “price improvement”. A reduction isn’t an improvement for the sellers but it is an improvement for the buyers, which is kind of the point.
Over priced Boston condos for sale ultimately sell for less than they would have sold for if they had been priced correctly. Sometimes we take homes off the market, give them a new price and put them back on the market as a way of getting the more money for them.
Correctly pricing a home is part art and part science.