There are numerous theories why Boston condominium prices continue to increase. Some feel banks are becoming less stringent on mortgage lending, similar to what happen in the early 2000, others feel we’re at Boston housing price peak. In my area of Beacon Hill the answer is relative simple; supply and demand. Like most areas of Boston Beacon Hill as well as Back Bay, North End is a historical district so no new developments are being built in these neighborhoods.
Its very simple. Boston condo buying demand in the key areas of Boston outpaces the supply of existing condos and townhouses for sale, result higher prices are incurred. It is the simple theory we learned in high school the theory of supply and demand.
File under: More housing, please.
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Updated: December 2017