Boston Condo Market Peaked – Huge Inventory Available
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.
Very funny comparison. However you don't need to pay property tax on Barbies 3 Story Dream House. With the unemployment ...
My wife has actually decided to study for and get her real eatate licence just so we dont ever have ...
I like your analogy in this article. The real estate economy really is like a patient who you cannot ...
Real Estate is hyper-local. Every market is different. Phoenix has already hit bottom and is starting to recover. We have ...
Great to hear that the big boys
are predicting recovery sooner than
most think.
Thanks for the value! 
I agree--good analogy. You have to crawl before you can walk. Right now, at least in Austin, many people would ...
I live in the Philippines and I am glad we are not on the lists... 
I have a few Litograghs of Presidents homes , made by Richard V. Sebring. yr. 1990 Do they have any ...
