Imagine This: More Condos, Less Competition-Should You Buy Now?

Hey there, future Boston homeowner - If you’ve been keeping an eye on Back Bay’s condo market, you might’ve noticed something interesting lately: more "For Sale" signs popping up. As someone who’s helped dozens of buyers navigate these streets (and negotiate some killer deals), I’ll let you in on a little secret: 2025 might just be your year. But let’s cut through the noise. Yes, listings are up (14.7%, to be exact). Yes, prices are shifting. But what does that really mean for you? Here’s the scoop-no jargon, no fluff-just straight talk from someone who’s been in your shoes.

Why Are More Condos Hitting the Market? 

Sellers Are Adjusting Their Expectations

Here’s what the numbers show:

• 32 condos had price cuts this year (up from 22 in 2024).
• Median list price dipped 3.2% (2.25Mvs.2.25Mvs.2.325M last year).

What’s happening? Simple: Some sellers listed too high, hoping for pandemic-level frenzy. When buyers didn’t bite? Reality checks ensued.

What this means for you: More negotiating power. If a condo’s been sitting for 30+ days? There’s likely wiggle room.

The "Wait-and-See" Crowd Is Jumping In

Last year, everyone wondered: "Will prices drop more?" Now, with mortgage rates stabilizing, two groups are moving:

• Owners cashing out (maybe downsizing or relocating).
• Investors rebalancing portfolios.

Result? 109 active listings (up from 95). Not a flood, but enough to give buyers breathing room.

The Market’s Finding Its New Normal

Remember 2022’s "10 offers in 48 hours" madness? That’s over. Today:

• Homes priced right sell fast (median 13 days to offer!).
• Overpriced ones? They linger (and often get cut).

Bottom line: Sellers can’t just name their price anymore. And that’s good for you.

What Buyers Should Do Right Now

Don’t Wait for a "Steal"- But Do Hunt for Value

I get this question daily: "Paolo, will prices keep dropping?" Here’s my take:

• Luxury condos are holding value ($1,589/sqft, up 4.2%).
• But median prices softened ($105/sqft less than 2024).

My advice: If you find a well-priced unit in a prime location (think: near the Public Garden or with river views), move fast. The best ones still go quickly.

Use the Extra Inventory to Your Advantage

With 6.64 months of supply (vs. 4.87 last year), you’ve got:

• More time to compare. No more frantic, "I’ll take it!" decisions.
• More leverage to negotiate. Especially if the seller’s already cut the price once.

Pro tip: Watch for "price changed" listings—they’re often the ripest for deals.

Focus on the Long Game

Boston isn’t Miami or Austin—we don’t have endless space to build. Back Bay? Especially landlocked. So while prices might wobble short-term, prime locations rarely lose their shine.

A Quick Word for Sellers…

If you’re thinking of listing, here’s how to stand out:

1. Price smart out of the gate. Homes that sell fastest are priced within 5% of recent comps.
2. Showcase lifestyle. Stage for the Back Bay dream (think: cozy libraries, rooftop decks).
3. Timing matters. Summer brings buyers, but also competition. Now’s a sweet spot.

The Bottom Line? Opportunity Knocks.

Here’s how I see it: 2025 isn’t a "buyer’s market" or "seller’s market"-it’s a "smart mover’s market."

• If you’ve been waiting for more choices and less craziness, this is it.
• If you spot a well-priced gem, don’t overthink it. (Remember: 13 days to offer!)

Let’s Find Your Perfect Condo

I’ve helped clients navigate shifts like this for years. Whether you’re:

• A first-time buyer wondering, "Can I actually afford Back Bay?"
• An investor looking for undervalued units.
• Or just curious about your options…

Let’s chat. I’ll give you the real deal-no sales pitch, just straight facts.

📞 Call/text me at 857-424-0141
📧 Email: [email protected]
🔍 Website: www.paolojrealestate.com

Here’s to your next chapter in Boston—with keys in hand - Paolo

P.S. Loved this breakdown? Share it with a friend house-hunting in Boston! And if you want a personalized market snapshot, just reply—happy to help.

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Tags

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Disclaimer

The information provided in this blog post is for general informational purposes only and should not be construed as financial, legal, or real estate advice. Market conditions can change, and all real estate decisions should be made based on your individual circumstances and in consultation with qualified professionals. While we strive for accuracy, Paolo Ricci and [Your Company Name] do not guarantee the completeness or reliability of the data or analysis presented. All statistics are sourced from [MLS/Data Provider] as of [Month] 2025 and are subject to revision. Past performance is not indicative of future results.For personalized guidance regarding your specific real estate needs, please contact us directly.

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