Questioning Pricing of High End Boston Luxury HomesFebruary 24, 2018
As the inventory remains low for high end properties, there are many Boston luxury real estate listings that are sold off the market. In fact, in most cases, owners are not even thinking about selling until they are presented with an unrealistically high purchase price they can’t resist.
I was telling a client about a very expensive property that was not on the market, but it fit their criteria. These buyers have been looking for a long time, and they thought the price per square foot was so ridiculously high.
The reality is that, sadly, Boston luxury homes buyers in that high range of the market don’t question the price anymore. These properties are one of a kind and some buyers are willing to pay any price to have them, since there’s a shortage of large and expensive properties. There are a good number of very high end buyers in the Boston luxury real estate market.
This is great news for sellers, but not so good for the average high end buyers who are more price conscious. To persuade owners to sell their Boston luxury homes that aren’t on the market, buyers are having to pay a much higher price per square/ft. Some properties are unofficially on the market for sale, because the sellers feel they will sell only IF they get $$$$ (above market). There have been many sales in the Back Bay and Beacon Hill in recent months that fall into this category.
Contact me if you’re interested in selling your home off the market and exploring the options for your next home.