Start by asking why the Globe correspondent did not cite the most important stat in the Redfin report — notably that housing prices on the Top 5% of luxury homes in Boston were down nearly 5% during the 3Q2018.
More beyond high levels stats presented by @Redfin to showcase @RealEstateCafe's own research using MLS data snapshot , through last week of 4Q2018. See Facebook post and text below:
Are price reductions in the luxury real estate market the leading edge of the “Great Senior Sell-Off? Our snapshot of single-family homes priced $2.5M or more revealed the following across Massachusetts during 4Q2018:
4 in 10 homes sold for more than 10% off;
55% sold $250K or more off the original asking price; and
15 homes, or about 1 in 5, sold for $1M or more below original asking price.
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Next, present 3rd party validation of our own findings:
EXCERPT:
Meanwhile, another source @MansionGlobal reports, “the median luxury home, defined as the top 10% of sales, sold for $2.8 million, marking a significant 12.5% decline from a median price of $3.2 million at the end of 2017—one of several signs that Boston’s market is preparing to take a breath.”
