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.
Although I agree on most points, I would like to point out that most of the banks that are being ...
The question is when are they going to release them on the market. Las Vegas leads the nation in ...
I keep seeing mentions of Florida's market getting better in multiple blogs. I'm increasingly under the assumption that at least ...
I would like to know more about it. I need to know how you file for it. Please let me ...
Great blog, keep the great content coming! 
If you want to succeed, do not say "we can prevent this in the future." Live in reality. ...
The price of the property depends on its quality and the deal between the management. Good and wise choices are ...
I don't have experience at actualy working in tha automotive bussinnes, but have experience working in a warehouse invironment. ...
