1Q2020 / WK 11: Top 15+ megatrends pushing prices down on LuxRE / LuxCC in Boston / Mass

Coronavirus infecting Spring market, uncertainty & travel bans limiting buyers, particularly foreign buyers Note

One new LuxCC listing coming into market daily, Spring market will bring another 100+
Uncertainty from election cycle always causes market to pause -- let's make a deal mentality after 4th of July Note

Oversized homes in Weston, etc. not selling, so less demand from empty nesters Note
Demand from foreign buyers, particularly Chinese buyers, has been retreating Note

30 projects over $1B bringing more desirable options into the market
Some new construction will also offer better locations —with waterviews, overlooking Boston Garden or Public Gardens

WSJ story on Boston properties sinking into ground Note

Price reductions causing comps to trend down, growing number condos closing under 111% of assessed value or reducing asking price to that level to generate acceptable offer

If investors fear they've missed the top of the market, may list rather than sign leases this Fall -- patient buyers will see lower prices 3-4Q2020

5/9/20: Reply to John Wake on why prices will not fall in 2020 Note