Wall Street and pundits have been buzzing about how the luxury real estate market has turned cold in Manahattan, is Boston next.
As of this writing, there are 17 luxury Boston condos on the market at or above $5,000,000.00. Six of those Boston luxury condos have had price decreases from the original dates of their listing.
Here are two examples:
776 Boylston Street PH-1-D orginal asking price – $7,000,000.00
Asking price as of 2/10/09 – $5,500,000.00
Reduced by – $1,500,000.00
51 Commonwealth Ave C-6 original asking price – $13,995,000.00
Asking price as of 2/10/09 – $11,500,000.00
Reduced by – $2,495,000.00
Are luxury Boston condo sellers feeling the squeeze?