Published October 26, 2026 in Market Update

Nearly Half of JP Condos for Sale Already Cut Their Price

By Juan Murray

Real estate, Jamaica Plain

The common line goes like this: price it high, you can always come down. Sellers hear it, believe it, and list at a number they hope the market will meet. I pulled every listing active in Jamaica Plain as of October 26, 2026, and here is what the data actually shows.

Cutting your price is not rare in JP right now. It is the norm.

Of the 80 homes for sale in Jamaica Plain right now, 38 have already dropped their price. That is nearly 1 in 2. This is not a sign that those 38 sellers made a mistake. It is a sign that the market is telling sellers something, and most of them are not hearing it until after they list.

The typical cut is $49,000. That is 5.1% of what the home first asked. The biggest single cut on the market right now is $300,000. Together, JP sellers have given back $2,132,369 in asking price across the active listings alone. That is money left on the table before a single negotiation begins.

And the condos that did sell? The typical one closed at 96.3% of its first asking price. So even the sellers who found a buyer gave up ground from their original number. The ones who priced right from the start gave up less. The ones who had to cut gave up more, and spent longer on the market doing it. The typical sold condo in JP took 44 days to find a buyer.

Supply is growing. Buyers are not keeping up.

In September, 42 condos came onto the JP market. Only 19 went under contract. That is 2.2 new listings for every new contract signed. In July, 16 condos came on and 4 went under contract. In August, 12 came on and 5 went under contract. The supply side has been building faster than buyers are moving.

At the pace condos have been selling, it would take 15 months to sell every condo currently listed in JP. A market under 4 months favors sellers. A market over 6 months favors buyers. Fifteen months is not close to either edge. Buyers have choices, and they know it.

That context matters when you set a price. Buyers in a 15-month supply market are not rushing. They are comparing. A condo priced above what the market supports does not get an offer that negotiates down. It sits, and then it cuts.

What this means for you, whether you are selling or buying

If you are selling, the price you start at is the most important decision you make. Nearly half of your competition has already blinked. A home that lands at the right number from day one does not have to cut, does not signal weakness, and does not sit for weeks while buyers wonder what is wrong. The sold data through October 26, 2026 gives you a real target. Use it.

If you are buying, this market is giving you more room than JP has offered in years. Condos are sitting. Sellers are cutting. The 15-month supply means you are not racing anyone. That said, rates are real: the 30-year fixed averaged 7.32% as of October 22, 2026, up from 6.19% a year ago, according to Freddie Mac's Primary Mortgage Market Survey. Higher rates shrink your buying power, so the negotiating room on price matters more, not less. Push on the condos that have already cut. They have already shown you they will move.