6 Responses to “Our own little bubble – downtown Boston condo sales stay strong” »»

1. Finance Mike
   Comment by Finance Mike | 10/23/07 at 2:55 pm

   Hi John -

   Is there any way to divide these results by property cost?

   Specifically, is there any way to look at the over $1 million market as compared to the under $1

   million market?

   Thanks!

   Mike

2. John A Keith
   Comment by John A Keith | 10/23/07 at 3:12 pm

   Mike, try using these

   reports:

   http://bostonreb.com/blog/weekly-boston-real-estate-market-reports/

   It

   breaks down on-market and sales by quartile for many of the downtown Boston neighborhoods.

3. Boston Condo Guy
   Comment by Boston Condo Guy | 10/23/07 at 6:31 pm

   We’ve been talking about the strength of city center condos for a long time, great to hear others

   getting on board with us.

4. Confused
   Comment by Confused | 10/24/07 at 8:18 am

   Who’s buying these condos? I just find it

   astonishing that there are that many people with that much money to spend on housing. I dunno

   perhaps these people are mortgaged to the hilt and things will slow down with the new lending

   standards. Then again there may be more money out there than I realize.

5. Unconfused
   Comment by Unconfused | 10/24/07 at 8:56 am

   >>> Who’s buying these condos?

   Either couples who make

   $200K to $300K per year and take out big mortgages or folks who have been in the Boston real estate

   market for 20 to 30 years.

6. Mike
   Comment by Mike | 10/24/07 at 9:25 am

   And let me also note that there are MANY MANY buyers of city center condos

   who don’t require mortgages. Boston is an extremely wealthy town. Think also about how many

   thousands of lawyers and MBAs that our local universities pump out each year, with starting

   salaries in the low to mid $200k/yr range. Also consider overseas buyers who are taking advantage

   of the weak dollar and buying investment properties in prime nabes like the Back Bay and South End.

   All these factors are ingredients in a recipe for a real estate BOOM TIME in the downtown

   city center condo market! John titled this entry “Our own little bubble”. I must disagree! If

   anything, prices in these areas are surprisingly LOW.

Leave a Reply »»