Negotiable List Prices in Boston’s Condo Market
David Bates / August 8, 2013-12:12 pm
In 2013, I’ve written a lot about the phenomena of the “over-ask offer.” I’ve written posts about how the majority of condo sales in many local markets are over-ask and about over-ask offers that go hundreds of thousands of dollars over-ask, and even one offer that went more than a million dollars over-ask. But where to find Boston area condos where the list price is…you know, negotiable?
That was the subject of my weekly featured post in Curbed. I reviewed nine key Greater Boston condominium markets including the South End, South Boston, Somerville and Brookline and found that a very small percentage of the sales prices reflected even five percent flexibility from the seller versus their list price. You might be surprised at the Boston neighborhood where sellers were consistently the least flexible and you definitely will be surprised by the neighborhood where seller flexibility was the most prolific. In the end, however, geographical location wasn’t the best predictor of whether a property would attract under-ask or extremely over-ask offers, the best predictor was another attribute of the listing. What was it? Check out my post and find out!