Boston Condo Market Peaked - Huge Inventory Available
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The Boston condo market has hit its peak this past fall, and now is accumulating a huge inventory of million dollar condos. My question is why do the builders keep creating the inventory when the market has turned.
There is now a 7.5-to-12-month supply of high-end condos priced at $2 million and above in the Boston, Brookline and Cambridge markets, according to Northeast Apartment Advisors.
That compares to a less than four-month supply for condos under $500,000, the firm found in its Boston Condominium Research Report.
Still, prices remain at sky-high levels, with the average listing price of a Back Bay condo now at $1,061,000, and a median price of $741,575. Cambridge condo prices are less than half that - averaging $465,000.
“We found that the Boston, Brookline and Cambridge condo market (as a whole) peaked in the third quarter of 2005 - but still remains healthy,” writes Thomas Meagher of Northeast Apartment Advisors.
BostonHerald.com - Real Estate News: Luxury condos sitting for sale.
Am I the only one that finds it odd that the ONLY place that looks to be seriously warming is ...
It seems there are numbers posted about how much it could cost the US in home sales from people holding ...
The only people holding off will be those that are financially secure and can manage to hold off. How ...
What an awesome way to generate traffic for a story. Were they trying to time that for Sweeps Week? ...
That's awful. I wonder if using that tactic , if a building can be sold or used as collateral. ...
Good point about people possibly holding off now. The 4.5 percent interest rate could be a self-fulfilling prophecy. 
wow this is a wonderful creation...............i would like to be there once even in my life time........... 
Absolutely agree with Jon, excellent site and very imformative. Keep reporting to us please! 
I will say that had I never been to that site and seen Dean's many deals that he documented and ...
Great Real Estate
post ... very interesting. 
