Earlier today I ran into Richard Drinkwater one of the top Boston real estate brokers in the city. Richard informed me that he was having a great year selling Boston luxury condos. The following are highlights from Otis and Ahearn’s web site on luxury real estate sales in Boston.
2008 – 7 record Downtown high data points year to date!
The average (1) and median (2) prices in the Downtown market have both reached new highs with the average price just over $659,000 and the median price at $473,500!
New highs in the number of $1M, $2M and $3M sales transactions this year!
Record number of $1,000 per square foot sales transactions this year!
Record number of $1,000 per square foot sales transactions this year collectively and within 5 neighborhoods!
Record high market share of $1M+ sales as a percentage of total sales!
All of these high-end data points continue to soar, trending at projected year-end record levels for 2008!