In Boston's Back Bay, Beacon Hill and South End, competition for condos can be fierce. Available inventory has remained low - essentially at the same levels as we saw pre-pandemic - so when well-priced, desirable condos hit the market, they sell quickly.
How quickly? Based on MLS data for condos listed between 12/23/2020 and 2/23/2021 (past 2 months), the following are the average days to accepted offer in the Back Bay, South End and Beacon Hill:
Under $1,000,000: 8.14 days
$1,000,000 - $1,999,999: 3.88 days
$2,000,000 - $2,999,999: 13.29 days
$3,000,000 and above: 15 days
On the market for less than 4 days on average, competition is extremely high for condos in the $1-2 million range. Additionally, buyers are prioritizing outdoor space (especially private roof decks and patios). The figures above are only for condos that have gone under agreement or sold, and there are units that are sitting on the market, but this data shows that buyers are out and looking this Spring.
Connect with us if you are considering a move - we can set you up for immediate notifications and help you react quickly when you find your dream home. With condos selling as quickly as they are, there is no time to snooze!