Boston Condo Market – Confidence Returns
Scott Van Voorhis wrote an article in today’s Boston Courant regarding a new report by luxury condo marketing and research firm Otis & Ahearn.
The article stated that so far this year, 28 Boston downtown condos have sold for more than $1,000 a square foot. That’s three times the number during the first 10 weeks of 2009.
An excerpt from the article:
“The market perception has not caught with these numbers,” Ahearn said. “Buyers are going to lose their leverage. It is absolutely a shift. We have been through four tough years.”
Sales in the key $500,000 to $999,999 range also rebounded, with 102 transactions this year, compared to 58 during the same period in 2009.
Your thoughts?
Note: Sorry, I have no link to The Boston Courant.