In today’s Boston Beacon Hill condo market, with more condos coming to market every day and eager buyers searching for their dream home, setting the right price for your Boston luxury condo is one of the most important things you can do.
According to CoreLogic’s latest Home Price Index, home values have risen at over 6% a year over the past two years, but have started to slow to 4.4% over the last 12 months. By this time next year, CoreLogic predicts that home values will be 4.6% higher.
With prices slowing from their previous pace, homeowners must realize that pricing their Beacon Hill homes a little OVER market value to leave room for negotiation will actually dramatically decrease the number of buyers who will see their listing! (see the chart below) Instead of the seller trying to ‘win’ the negotiation with one buyer, they should price their Boston condo for sale so that demand for the home is maximized. By doing so, the seller will not be negotiating with a buyer over the price, but will instead have multiple buyers competing with each other over the house.
The key to selling your house in 2019 is making sure your house is Priced To Sell Immediately (PTSI)! That way, your Beacon Hill home will be seen by the most buyers and will sell at a great price before more competition comes to market!
Bottom Line
If you are debating listing your Boston condo for sale, let’s get together to discuss how to price your home appropriately for our area and maximize your exposure this Spring Market!