Let’s talk about Boston condo offers or a lack thereof.
There’s a big difference between low offers, and no offers.
If you are getting low offers, at least you’re in the ballpark
In this environment expect that Boston condo buyers will want a discount. If its for repairs expect it will be 2x the actual cost of repairs/improvements, because it will be a hassle for them too. Whoever does the work deserves to be compensated for the time-and-hassle factor.
If its price cut 2 – 3% for a starter after the holidays. Monitor the activity.
If you aren’t getting any offers, well then that’s different. Your asking price is wrong.
I know, I know…..what does it hurt to start a little high? You can always come down later, right? Unless a neighbor beats you to it, which can leave you hung out to dry.
If you are getting no offers, you should react quickly and get in the game by lowering your price – before someone else beats you to it. Once a home is on the market for 30+ days, Boston condo sellers are going to get low offers.
Boston condos for sale and the bottom line
Boston condo sellers, I know its tough to cut the asking price on your Boston condo. But if you don’t and your competition does, where does that leave you? I’ll tell you, higher and drier.