So where do we stand at the 1/2 way mark?
Boston condo sales for the first 6 months of 2009:
Number of sales – 1,804
Avg sales price – $435,506
Med sales price – $425,500
Avg price per sq. ft. – $411
Boston condo sales for the first 6 months of 2010:
Number of sales – 2,227
Avg sales price – $484,151
Med sales price – $499,000
Avg price per sq ft – $438.00
Days on market – 105
Well, based on the above sales number it appears that the Boston condo market is pulling out of its slump. The big question. How much of this improvement was due to the Fed and the $8,000 tax credit? Will it continue now that the tax credit expired for new buyers?
As I’ve said many times before, keep an eye on the unemployment numbers. If you don’t have a job you’re not buying a condo.