There is a general rule of thumb in the Boston real estate industry when pricing a Beacon Hill condo for sale. It states that if a new Boston condo listing for sale is as little as 5% above marker value, the seller may lose as many as 50% of potential internet buyers on the internet.
This is particularly true in the Boston high rise condo market where prices are more sensitive due to the foreign buyers and the outbreak of the COVID – 19 outbreak,
Obviously, your objective is the sell, then agree with your broker n a price that supports the most recent sales comps and which is likely to attract as many potential internet buyers as possible, and as fast as possible. This is not black magic.
Remember, there is no magic bullet that work every time when pricing a Beacon Hill condo. Again, you need to study the Beacon Hill condo sales comps, and understand the comps at the low-end market don’t correlate to high end sales, even in the same neighborhood.
The bottom line, use supply and demand along with common sense as your guide, This is not black magic
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