Buried in an article in Sunday’s New York Times was an update on Gale International’s One Franklin, née Filene’s building, development project. As most readers know, the project has been delayed “because of difficulties obtaining credit,” according to the Times. According to Gale president and chief executive John B Hynes, III, about three-quarters of the [...]

The Boston Globe, perhaps following up on posts on this blog, covers the thriving “Boston Proper” real estate market. [While] sales of downtown area properties under $500,000 are down 20 percent from last year at this time, [the] number of properties under $500,000 in the downtown market is down to 53 percent, down from 78 [...]

The Massachusetts Association of REALTORS® (MAR) reported  that single-family home sales were down 21.8 percent in November compared to the same time last year after two straight months of year-over-year increases.  Condominium sales were down 27.3 percent in November compared to the same time last year.  The median price for a single-family home in November [...]

Boston luxury condo sales priced $2,000,000.00 and above increased this year compared to last year. Based on the following neighborhoods:  Back Bay, Beacon Hill, Charlestown, Leather District, North End, Midtown, Seaport District, South End and Waterfront. Boston luxury condo sales $2,000,000.00 and up 1/1/07 – 12/15/07 – Total sales – 56 Boston luxury condo sales $2,000,000.00 [...]

Comparing the Boston condo market this year to last year. Total Boston Condo Sales from 1/1/08 – 12/27/08 – 3,779 Total Market Volume from 1/1/08 – 12/27/08 – $3,773,939,562 ______________________________________________________ Total Boston Condo Sales from 1/1/07 – 12/27/07 – 4,483 Total Market Volume from 1/1/07 – 12/27/08 – $4,428,735,717 Source: MLS

According to the National Association of Realtors, a real estate organization that represents real estate professionals, membership declined by 20,000 this year from a record level of 1,358,000 in ’06.  However, even with these new numbers, there aren’t exactly (or is that egg-actly) a shortage of real estate agents.

Now click your heels together three times and repeat after me……… The Boston condo market will be fine in 2009

The illiterate of the 21st century will not be those who cannot read and write, but those who cannot learn, unlearn, and relearn. – Alvin Toffler

The following information is from the local MLS database as of December 27, 2008, compared to (December 20, 2008) and (December 25, 2007). Total # of condos for sale in the city of Boston: 1,575 (1,638) (2,039) Average # of days on market: 154 (148) (151) Number of condos sold, past 30 days: 184 (211) [...]