down-market

The number of Boston condos selling for $1 million or more fell dramatically in 2009 compared to 2008, according to early LINK numbers.

Overall, million-plus home sales were down nearly 40% compared to 2008.

But sales of Boston condos for under $100,000 jumped 46% from the year before, virtually all of that increase due to condo sales in Dorchester.

The figures show that Boston condo sales at the low end ($100,000 range) of the housing market — consisting in large part of foreclosures and “short sales” — accounted for virtually all of the sales gains last year.

The findings show, that among Boston condos sold tracked by LINK:

  • 2008 $1 million plus condo sales – 452 total.
  • 2009 $1 million plus condo sales – 286 total.
  • 2008 avg. price per sq. ft. $1 million and above $992.00.
  • 2009 avg. price per sq. ft. $1 million and above $878.00.
  • The LINK numbers do include new condo developments.
  • Please note the “official” numbers from LINK should be published next week.

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