Where’s the Midtown high rise condo market? Buyers market? Seller’s market?

There are 43 active listings for Midtown condos priced over $1,00,000, with an average days-on-market of 167 days.

How many high rise condos priced $1M and above closed in the last 30 days?

Four

How many Midtown high rise condos priced $1M and above went under agreement in the last 30 days?

Four

How many Boston Midtown condo brokers pulled their condo off the market in the last 90 days?

Thirteen

I think we can safely call that the Boston Midtown condos for sale market – a buyer’s market.

Boston Midtown Real Estate Issues

  1. There are very few closed comps from the coronavirus era.  Buyers are reluctant to rely on old sales as an accurate reflection of where values are today 
  2. Agents are terrible at quantifying how much the discount should be.  Many if not most have only seen a strong seller’s market over the last ten years, and are now just order-takers. When presented with data to justify our price, not one agent could present a rational counter-argument.

 

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