Boston condos for sale: Are there any deals out there?
Boston condos for sale: Are there any deals out there? Yes, there are. Let me explain.
The Boston condo for sale market is extremely competitive. Inventory is perennially limited and there are always way more condo buyers than there are homes for them. However, of the several hundred listings for sale in downtown Boston (including Back Bay, Beacon Hill, Fenway, Seaport District, South Boston ect) currently on the market, a large percentage of them have been sitting on the market for over 60 days or more.
Many Boston condos go into contract within the first week or two, so 21 days screams “opportunity” for buyers. It’s important not to go on auto pilot when you’re Boston condo for sale hunting, only looking at new listings that Redfin or whatever online site you’re using are sending you. Don’t overlook the market sitters; they could be your chance to purchase a home without multiple offers nipping at your heels, which works to your advantage when it comes to negotiating. And it helps immensely if you’re open to properties that have been sitting on the market for over 60 days or so.
If you are in the market for a new Boston condominium and you heard that it is a sellers market based on inventory, you are probably thinking there are no deals out there. While it is true, it is harder to find deals in the market, they are out there. If you are a serious buyer and looking for Boston condos for sale, you would be best served by working with an agent that specializes in that market. As a seller, no question that you should work with a Boston condo specialist, after all, they have marketing that is directed towards buyers everyday. But what about buyers? By working with a specialist, you are working with someone who is in that market everyday and really knows the market and how to identify value. Are there values still out there? Sure, because sometimes sellers may list with an agent that does not really understand the Boston condo market as well as they understand the housing market.
Recently, I went to a brokers open house for a new listing of a Boston condo. After touring the unit, the agent holding the open house asked me what I thought about the units condition, floor plan and pricing. Not being shy to offer my opinion, I told him that I thought it was under price. I was a little surprised when the agent didn’t ask me how I came to that assumption. In fact, he seemed a little bothered by my answer. I would have told him that a unit recently sold that was only slightly bigger over within the same Boston neighborhood for $100,000 more. This unit had superior panoramic views of the city, and beautiful evening sunsets. So yes, there are deals out there, for more information please give me a call or text at 617-595-3712.
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