Condo sales in Boston see an increase
July 21, 2010 - Downtown Boston could be gaining popularity as a destination for people who are moving.
The second quarter brought a 30 percent increase in the city's Downtown condominium sales, reported the Boston Globe, citing data from local real estate tracker, Listing Information Network. About 849 condos moved hands that quarter, up from 653 during the same time period a year earlier. Even so, the overall median price went down 3.6 percent and now sits at $443,500, said the report.
Even those most expensive condos saw a 9 percent year-over-year increase, with median prices in that segment up 11.8 percent to $665,000. Downtown has experienced three straight months of growth, particularly among luxury units, LIN president Debra Taylor Blair told the Globe. "I feel that is the magic number that says yes, we are really coming out of the slump."
The figures echo the most recent data from the Warren Group, which showed a 24 percent increase in statewide condo sales in May, as well as a 37 percent jump in home sales. That could indicate the Bay State's growing popularity as a relocation destination.
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