real-estate-blog-question

A Blog reader would like info regarding Dorchester condos.

Number of Dorchester condos for sale – 190

4/20/08 – 4/20/09 Dorchester condo sales data:
Number of condos sold – 604
Avg sales price – $186,517.00
Median sales price – $180,000
Avg price per sq ft – $162.00

4/20/07 – 4/20/08 Dorchester condo sales data:
Number of condos sold – 590
Avg. sales price – $272,783.00
Median sales price – $268,9000.00
Avg. price per sq ft – $238.00

My thoughts: Prices are dropping due to the number of foreclosures in Dorchester. Too many speculators, unqualified buyers and sub-prime mortgages. Now there’re paying the price. Sales are up as “qualified” buyers are purchasing last years condos – “pennies on the dollar”.

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