Boston condo sellers I see the market shifting

Boston Real Estate and Condos for Sale

Boston condo sellers I see the market shifting

The image above demonstrates how critical Boston condo for sale buyers are about price.

Under normal conditions, only 60% of buyers are willing to consider homes priced at market value.

Today? It’s probably half that many!

Boston condo buyers are making decisions about the Boston condominiums for sale based on what they can find out about the local market from the internet. They’re willing to spend more time doin their own research because they are skeptical of every listing being worth it.

I feel that It’s going to get harder and harder to sell a downtown Boston condo for what homeowners think is their selling value (which is usually 5% to 10% above the actual market value). I think that it will take longer to sell and days on the market will increase, but that is until mortgage rates drop to 6% or even below.

In this flat or declining Boston condo for sale market, the retail-priced homes are cooked if they don’t sell in the first week or two on the market. It’s because the buyer expectations are dropping, and all the happy talk about lower rates of 3 or 4% some day won’t happen it. Until probably after I retire, or if we go into a serious recession.

Byline – John Ford Boston Beacon Hill Condo Broker 137 Charles St. Boston, MA 02114 Beacon Hill Apartment Rental Office.