In a perfect world, we’d have a steady inventory of homes for sale and stable home prices in the city, so anyone and everyone who wanted to buy or sell a home could do so.
We don’t live in a perfect world.
Prices for condominiums in the city jumped 7 percent in the first quarter of this year, compared to the same period in 2006, to a median $489,800, according to preliminary market figures compiled by Otis & Ahearn, a Boston real estate brokerage and marketing firm. In contrast, prices for single-family homes in Massachusetts fell 5.7 percent in the same period, according to Global Insight, a Waltham economic and consulting firm.
Sales figures, though preliminary, also indicate a good quarter. In the first quarter, 760 condo sales have been posted to date, for a total value of $512 million. That compares to 759 sales in the first quarter of 2006, for a total of $446 million.
Source: Condo prices in the city leap 7% – By Kimberly Blanton, The Boston Globe