The following is from the Banker & Tradesman wriiten by Scott Van Voorhis:

The downtown condo market, invincible no more
The downtown condo market looked all but invincible for so long.
No longer.
For my Commercial Interests column in this week’s B&T, I took a look at a survey of 13 new Boston condo projects by the PrimeTime Urban Report found just one sale per month.
The results, especially for someone who has been inclined to shrug off the problems facing the downtown condo market, were sobering.
The report out suggests that sales of luxury units remain stuck at last year’s anemic levels, and are even slipping back further.
Or to be exact, 1.03 sales per month through the first half of 2009, down from a not exactly banner 1.2 sales a month last year.
Either way, it’s not likely enough to clear out the hundreds of unsold luxury units out there.
At this pace, it would take 100 months to sell off the remaining 558 units in these projects, which include the Clarendon, 45 Province Street, Harrison Lofts and FP3.
I’ll do the math for you – that’s more than eight years.
More troubling yet, this lackluster performance has come amid growing signs the overall real estate market has bottomed out and may soon be on the upswing.
Not, then, what I was expecting to see.
You’ve got to hand it to this real estate downturn. Just when you think you’ve seen it all, it gets stranger still.

View today’s Boston luxury condo listings

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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