Banker & Tradesman says the ultra-luxury real estate market is red-hot, these days.

A total of 81 condos with price tags of $2 million or more were sold through October, 37 percent higher than the same period in 2006. Sales are even more brisk than the same months in 2005, when the Bay State housing market hit its peak, according to statistics from The Warren Group, parent company of Banker & Tradesman.

One of the interesting parts of this what it means about the suburban real estate market, as well.

Presumably, those who are buying in Boston had to sell their existing homes in the suburbs. And, presumably, many of those homes were also $1 million+ properties. Meaning, there were buyers for them, as well.

(Yes, naysayers will point out that many of these sales happen in buildings were the buyers put down deposits as much as two years ago. True, but you are overemphasizing those. The majority of those that bought $2 million+ units were “traditional” buyers, only entering the market this year.)

Hey, any sale is a good sale, even a $2 million sale. Plus, we need the property tax revenue, right?

Thank you!

Source: Condo Market Enjoys Life of Luxury – By Aglaia Pikounis, Banker & Tradesman (subscription required)

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Updated:  1st Q 2018

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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