Hot Beacon Hill homes offer luxury for less

If youre looking to buy a historic single family in toney Beacon Hill, prepare to pay for the privilege, but less than the original asking prices.

While low inventory in some Boston neighborhoods is leading to multiple offers, bidding wars and sales above asking price on some properties, two of the Hills top-of-the-market single-family homes are seeing their prices chopped.

This week, Beth Dickerson of Gibson Sothebys relaunched her recently acquired listing at 23 W. Cedar St., a five-bedroom townhouse that was handsomely redone last year, by dropping the price by $400,000 May 15, after having already dropped it $150,000 May 2. It is now on the market for $5,350,000.

I did a re-analysis, something you generally do when a property hasnt sold within 60 days in this market, said Dickerson, consistently ranked as the second-highest-volume real estate broker in Boston who has sold dozens of super-high-end properties. With the end of the spring market coming, reducing the price gives the property some buzz before the summer comes in and buying slows down.

The 5,341-square-foot property certainly pops, from its stately 1836 Greek Revival brick and wrought-iron exterior to an elegantly restored living/dining area, a chefs kitchen with honed Carrara marble countertops and a private two-tiered garden and roof deck. Original floors and woodwork were redone, but theres also a contemporary feel in its four levels of living space.

The owners an interior decorator whos done a great job mixing in the old with the new, Dickerson said.

It was originally listed by another broker at $6,250,000 in July 2013, so the property has actually been reduced $900,000 since its makeover.

Another top-tier single family, a spectacular 8,684-square-foot Beacon Hill townhouse overlooking Boston Common at 56 Beacon St., has had its price cut by $600,000, to $11,900,000.

Jeannemarie Conley of Otis & Ahearn has had the listing along with colleague John Corcoran since January 2011.

Cutting the price brings in new potential buyers, and encourages others whove looked at it to look at it again, said Conley, who sold 15 Commonwealth Ave. for $12.5 million in 2012, the highest sales price in Boston that year. The price cut is already working because its increasing activity on the property.

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Hot Beacon Hill homes offer luxury for less