Boston Condos for Sale Months Supply Up in August
The local housing market has slowed up a bit. In the last two weeks, we were able to negotiate lower prices for our Boston condo buyers on inspection contingent offers. Back a decade or so ago most offers on homes for sale were lower than the asking price. In the last five years, or so buyers who offered less than the asking price rarely got a shot at buying the downtown Boston condo of their dreams. Sellers did not need to negotiate because they had multiple offers or they could even wait a day or two for a higher offer.
Right now there are Boston condos for sale that have been on the market for a while. Some of them had gotten offers but for whatever reason, the buyers backed out. Now is the time to buy re-examine those condominiums and for buyers to negotiate more favorable terms. We are still experiencing a strong seller’s market but it is a little less ridiculous than it was a month or two ago.
Newer real estate agents might not be used to negotiating. That is something I use my age and experience to my advantage.
The bottom line is there is good news for Boston condo buyers – inventory is increasing in August.
Updated: Boston Real Estate Blog 2022
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- Updated 2022