Remaining Selling Period in the Spring MarketMay 12, 2018
The spring Boston luxury real estate market starts in the latter part of January and winds down at the beginning part of July. That being said, looking at the market, we only have another couple of months before sellers stop listing their Boston luxury homes for sale.
Both buyers and sellers especially ones with large families, have much less time to concentrate on Boston luxury real estate during the summer months, based on travel and seasonal distractions. Home shopping will be the last thing on anyone’s mind amidst the summer fun activities. There are always sellers who need to sell, or buyers who need to settle before their vacation, that scramble to close on Boston luxury homes before their summer plans.
Boston luxury homes that have been on the market and have not sold in the spring months, generally adjust their pricing to capture the tail end of the active market pre-summer. Sellers are eager to sell at this time, not wanting to compete with many new Boston luxury homes that will be put on the market in the fall.
It’s in the buyer’s best interest to purchase a home before summer hits, since sellers are more willing to negotiate. All the new properties coming on the market in the fall will probably be more expensive, especially since they’ll be new listings and sellers will be optimistic about property values.
Since fewer luxury properties will be coming on before the fall, it’s best for both sellers and buyers to do their best to be flexible in order to make a deal. Buyers should be less selective and have a better vision for what they are buying. By the same token, sellers need to be more flexible in negotiating and have an open mind. Contact me to explore your options in this energetic spring market.