Boston Luxury Real Estate: TownhousesJune 7, 2014
With Boston luxury home prices on the rise with a vengeance and the shortage of inventory, buyers feeling financially more confident, are beginning to look at larger condos. However, they’re not finding a condo that suits their wish list, so they have broadened their Boston luxury real estate search to include townhouses and single family homes. They are learning that, in some cases, they can buy a townhouse for the same amount of money than a 3 bedroom condo. So why not buy a townhouse instead!
Townhomes Provide More Bang for a Buyer’s Buck
Since the market provides limited inventory, buyers are becoming more flexible in their list of must haves for their Boston luxury homes and can give up the convenience of having a concierge at their door step. Boston townhouse sales have taken off yet again and are selling at a rapid pace.
Needless to say, the townhouse single family homes that don’t need any work or reconstruction sell a lot faster than fixer uppers. Generally, buyers do not want, nor have time, to deal with lengthy construction projects. There are several exquisite townhouses available in Boston’s high end Back Bay neighborhood, including my new listing at 423 Beacon Street.
Given the size and the price of this new listing, most buyers interested in this property are frustrated condo buyers who are impressed with how much more their dollar can actually buy. Boston luxury homes under 4,500 square feet in size are incredibly appealing to traditional condo buyers. So, it’s time to change your way of thinking and keep an open mind when deciding which properties to consider in your home search.