As we enter into the summer months, one thing remains the same from the spring market and that is low Boston condo inventory. As new listings come on the market, and they will, those searching for a new Boston condo to buy will want to react fairly quickly as there are more buyers than there are condos for sale, especially under %500,000. If you are looking to sell, not a bad time to push price a little, not much, but can’t hurt to push it a bit. Last Sunday I went to an open house the listing was a beautiful upper floor unit with sweeping views of the Boston skyline Stand at the windows in your living room and you feel like you are on top of the Boston skyline As I viewed the condo, my first thought was that I wish I had a client with me as I felt it might be under priced. I’m sure by the time you read this Boston Real Estate Blog post the unit has several strong offers.
If you are looking to sell your Boston condominium in the near future, be aware of current inventory levels this is so important. While comps will give you a good starting point, placing your Boston condo in a side by side comparison with every condo in the price range is more important. Right now, for example, there are only 17 Boston condos in downtown priced in the $500,000 and below range. Does this strategy of pushing the price work? You bet it does! You may have to also sell the appraiser on your pricing, but a good agent should be able to justify his pricing.
Low Boston inventory has a big impact on Boston condo pricing, regardless of what the comps say.
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