"To avoid public price "resets" that could devalue an entire building, developers are increasingly using "quiet deals" and off-market strategies: Substantial Concessions: Developers are offering closing-cost credits, extensive price breaks, and covering condo fees behind closed doors. Inventory Roll-over: Hundreds of unsold luxury units from 2025 have rolled over into 2026, further increasing buyer negotiating power. Several factors have suppressed demand among traditionally affluent buyers:"
"Funding and Policy Cuts: Many buyers in the biotech and academic sectors have pulled back due to federal funding cuts and political uncertainty impacting Boston's core industries. Flight to Suburbs: A reversal of the "urban luxury" trend has seen wealthy buyers dump city condos in favor of homes in suburbs like Weston, Wellesley, Winchester and Brookline. High Carrying Costs: Interest rates and maintenance fees have turned unsold units into significant financial liabilities for developers."
Boston's luxury condominium market is experiencing a pronounced oversupply, with transactions for units above $3 million down 35% year-over-year. Inventory levels have doubled relative to a typical three-to-six month supply, and units priced above $10 million could take 18 months or more to sell. High-profile projects are faltering; the St. Regis Residences in the Seaport was reclaimed by its lender after nearly three years, leaving over a third of 114 units empty. Developers are pursuing quiet, off-market strategies, offering closing-cost credits, price breaks, and covering condo fees to move units. Demand has weakened amid federal funding cuts in biotech and academia, a shift of wealthy buyers to suburbs, and high carrying costs from interest rates and maintenance fees.
Read at Boston Condos For Sale Ford Realty
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