Driven by high buyer demand for Boston condos priced under $1M, the under $1,000,000 condominium market is going gangbusters in Downtown.
There are generally two categories of buyers in this price range in the Boston condo market. The first is the empty nesters—who sold their home in the “burbs” and are looking forward to coming back to city living.. Then there’s the newly youung couples and single with out children, looking dor their dream house.
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Let’s compare this year’s Boston condo sales to 2008:
$200,000 – $400,000 – 995 sales in ’09 compared to 1,189 sales in ’08
$401,000 – $600,000 – 502 sales in ’09 compared to 696 sales in ’08
$601,000 – $800,000 – 162 sales in ’09 compared to 260 sales in ’08
$801,000 – $1,000,000 – 85 sales in ’09 compared to 109 sales in ’08
Are you one of the few looking to buy a Boston condo? View todays new Boston condo listings
Source: MLS comparing 1/1/09 – 8/26/09 with the same dates in ’08
