Boston Condo Sales – Looking for signs of life
Bay State condo sales have been dragging for the last four years.
Condo sales peaked in 2005, when 32,907 condos traded. About half that amount – only 15,308 condos – have been sold in the first 10 months of 2009, according to The Warren Group.
The last two months have offered some hopeful news. Unit sales increased year-over-year in September and October.
In fact, The Warren Group reports today that condo sales statewide jumped 12 percent to 1,854 in October from 1,655 in October 2008. Still, sales are 13 percent below what they were a year ago.
There is one Boston town bucking that downward trend. Roslindale, condo sales transactions rose 37 percent from 2008 levels.
I’m sure I can find more Boston neighborhoods that are bucking the downward condo sales trend, it just might take me a couple of days, Weeks………err…months.
Source: Banker & Tradesman