Whatever the price-chops at the luxury end, it's still good to be a Hub condo seller. Per Catherine Carlock at the Boston Business Journal: "In July, sellers of single-family home received 99.1 percent of their original list price — up 1 percent from a year ago — while condo sellers received 101.1 percent of their original list price — up 1.3 percent from 99.8 percent last July..." That's according to a new report from the Greater Boston Association of Realtors.
The over-ask trend is, of course, nothing new in the Hub condo market (or the single-family one for that matter). The Realtors report said, per Carlock, that July was "the fourth consecutive month that final condominium sale prices have exceeded list price." And what are those sale prices? The condo median in July was $460,000, up nearly 10 percent from the same month in 2014.
· Greater Boston Condo Sellers Receiving 101.1% of Asking Price [Biz Journal]
· More Proof 'Over-Ask' Is Hub's Real Estate Word of the Year [Curbed Boston]
· This Cambridge Home Received an Over-Ask Offer for the Ages [Curbed Boston]
· Are Big Price-Drops a New Trend in Boston's Luxury Sales? [Curbed Boston]