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Condos in high rise condo buildings are seeing their fair share of price reductions during corona, based on sales that have closed in the last 30 days based on Boston real estate sales data.

Boston High Rise Condo Market

A larger proportion of high rise condos sold in the last 30 days saw a price chop prior to closing, in various locations throughout downtown Boston. But a majority of the reductions were concentrated in Midtown/downtown and Seaport area.

Historic Real Estate buildings

Condos in smaller buildings such as Beacon Hill or other historic neighborhood locations appear to be holding their values better. Buyers aren’t as quick to write offers on units in hotel-like properties where they have to share elevators and common areas with large numbers of residents.

Just because a property sees a substantial price reduction doesn’t mean it will sell for under the list price. 

Boston Condo for Sale Market Observations

But that sale isn’t typical. What I’m seeing in the corona market are Boston condos coming on the market and either going into contract in the first week or two, or sitting on the market longer and undergoing price reductions.

The multi-million dollar end of the luxury condo market is also highly susceptible to reductions. 

Condos seem to be sitting for 30 days or more before seeing a significant price reduction. So buyers, keep your eyes on those units that are passing the 30-day mark. Those could be good negotiating opportunities.

Our Boston condo for sale listings are updated in real time

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Boston Condos for Sale Search

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