From Thomas Grillo’s report today in the Boston Herald summing up the 2010 Massachusetts real estate market:
“The Boston-area housing market is like the little engine that could. Repeat sale prices (are) down about 14 percent in Boston (from their peak), while other cities in California, Florida and Nevada are down by 50 percent.”–Karl Case
“If you look at 2010 as a whole, we are where we were in 2008 and a little below 2009. So it’s a slow year overall.”–Timothy Warren
The median condo price rebounded to $270,000, up from $252,000 in 2009 (a 7 percent increase). But that’s still below 2008’s peak of $280,000. That puts the median condo price just 3.5 percent off its peak. Again, considering how the rest of the country has fared, that’s not bad at all. Yes, we’re aware that the median price is from a smaller pool of sales — and that $1 million+ sales skew that number.