Scott Van Voorhris has an interesting article over at Boston.com regarding the Boston luxury condo market. Will Kaufman a market analyst for Otis & Ahern claims that the downtown luxury condos are a hot product.
There were 101 sales of condos for more than $1 million through the first six months of the year.
That’s about 16 super luxury condo sales month.
But in the last 3 ½ months, there have been 88 sales, a pace, if it continues for the rest of the year, could yield 150 condo sales of $1 million and in the last six months of 2009, according to Kaufman.
That translates into more than 25 sales per month of $1 million-plus downtown condos, or a 51 percent increases in sales velocity over the first half the year.
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