Opinion: Midtown condo sellers are asking too much

Midtown condo sellers are asking too much. Our read: they price as if the monthly fee doesn't exist. Buyers don't.

In the past 12 months, only 12 of 93 condos sold in Midtown, downtown's tower district, went for their first asking price or more. That's 13%, the lowest of any Boston neighborhood with at least 30 sales. In Charlestown, 56% did. Buyers still bought Midtown condos. They just wouldn't pay what sellers asked.

Buyers pay less than asked

81 of the 93 Midtown condos sold for less than the seller first asked. The typical sale closed about 4.5% under the first asking price. On a $1.95 million condo, the typical Midtown price, that's about $88,000. ("Typical" means the middle one: half sold for more, half for less.)

Midtown sellers also wait longer. The typical Midtown condo took 55 days to get an accepted offer. In Charlestown, it took 7. Midtown sellers wait almost 8 times as long.

Sellers are still asking more

On Nov 6, 67 Midtown condos were for sale. The typical one had been listed for 79 days. Only 25 of them, 37%, had cut their price. Most, 63%, hadn't, even though 87% of Midtown condos sold in the past 12 months went for less than first asked.

Midtown condos sold in the past 12 months went for a typical $1,350 a square foot. On Nov 6, the typical asking price was $1,460 a square foot. That's 8% more than buyers have been paying.

Midtown fees are twice Back Bay's, per square foot

A typical Midtown condo comes with a $2,353 monthly fee. In Back Bay, it's $878. That alone isn't a fair comparison: the typical Midtown condo sold is 1,511 square feet, against 1,114 in Back Bay. Under Massachusetts condo law, a unit's share of building costs is usually set in the master deed by its value compared with the other units; some deeds use size instead. Either way, bigger units generally pay more.

So compare like with like. Per 1,000 square feet, the typical Midtown fee is $1,627 a month. In Back Bay, $821. Midtown owners pay twice as much for the same space, every month.

Per square foot, Midtown buyers paid $1,350, about what Back Bay buyers paid ($1,340). So Midtown buyers pay Back Bay prices, then twice the fee. For a 1,500-square-foot condo, that's about $1,200 more a month, about $14,500 a year.

What the fee buys

The fee buys more. Among Midtown condos sold, 51% of listings mention a doorman or concierge, 74% a gym and 61% a pool. In Back Bay: 24%, 17% and 9%. 80% of Midtown condos sold came with parking, against 59% in Back Bay. Midtown means a new tower with staff: the typical condo sold sits in a 317-unit building built in 2016. Back Bay means an older, smaller building: the typical one has 14 units and dates from 1900.

Taxes don't change the picture. The typical Midtown tax bill filed with a sale was $20,500 a year, against $13,800 in Back Bay. Per square foot, Midtown runs about 17% higher ($16.10 against $13.70 a year), a far smaller gap than the fee.

Our call: for most buyers, Back Bay is the better deal. Midtown is worth it only if you'll use the doorman, gym, pool and parking enough to justify about $1,200 a month more. Midtown asking prices should reflect that. Today, they don't.

The Seaport has the same problem

The Seaport is the priciest per square foot. Condos there sold for a typical $1,697 a square foot, and on Nov 6 the typical asking price was $1,725. Its fee runs $1,778 a month per 1,000 square feet, even higher than Midtown's. Only 38% sold for asking or more. On Nov 6, 24 of its 53 condos for sale, 45%, had cut their price.

What to do

Midtown sellers: price per square foot below Back Bay's, not above it. Your buyer pays twice the fee for the same space. Price it right now, or wait months and cut later.

Buyers: start about 4.5% under the first asking price; that's what the typical Midtown buyer paid. Compare the fee per square foot, not just the monthly number, and ask what it pays for. Before you sign, ask the association for its statement of unpaid fees and charges on the unit. State law requires it to provide one within 10 business days of a written request.

Midtown sellers: same price per foot as Back Bay, twice the fee. Price like it.

How we measured

This is an opinion piece by the Observer Opinion Desk, built on verified market data. Condos sold in Boston from Nov 10, 2025 to Nov 6, 2026. "Asking price or more" compares the sale price with the first asking price. Fees are the monthly condo fee filed with each sale; tax bills are the yearly bill filed with each sale. Amenities count sale listings whose descriptions mention them, so a building can have a gym its listing didn't mention. Condos for sale are counted as of Nov 6, 2026; a price cut means the asking price is below the first. "Midtown" and the other neighborhood names follow the areas used in verified market data.