Fewer Condos for Sale in Boston in 2nd Quarter of 2014
Posted by Michael Sylvia on
According to the Boston Listing Information Network, or LINK, fewer condos sold in Boston than at any time in the past two years. But the problem wasn’t lack of interest; it was lack of options. Condos in Boston have become increasingly attractive, raising prices and shrinking inventory. Only 963 units were sold in Boston’s various neighborhoods last quarter, which is an 8 percent drop from one year ago.
At the same time, the median price of condos for sale in Boston rose by 12 percent, a clear indicator that it’s a seller’s market; with fewer choices available, sellers are charging—and getting—more per square foot than ever before. Not unexpectedly, the waterfront is still Boston’s most desirable area, with median condo prices now standing at…
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