The first quarter Boston condo sales results from the Ford Realty sales report show some moderation in sales prices. Portion of this data was obtained from LINK. LINK is the Boston real estate listing service used by most Boston real estate brokers for obtaining Boston condo sales information.
The Boston real estate sales data regarding the Boston condo market is much better then most people have been expecting. The total number of Boston condos sold reached 1,046 this quarter only slightly off of 1,058 at the end of the first quarter of 2005. The Boston condo sales data also revealed that the lower end of the Boston condo market is on the rise. One area that showed enormous growth was in the Boston Fenway area. Presently the $500,000 and less Boston Fenway condo sales rose from 21 at the end of the first quarter of 2005 to 41 this year a 50% increase in Boston condo sales.
The million dollar Boston condo market wasn't as fortunate as the number of Boston condo sales dropped 30% by most experts estimation. The cause for drop in million dollar Boston condo sales was mostly due to an over abundance of supply. The million dollar plus condo market is sprouting up like mushrooms while the $500,000 and less condo market are viewed by first-time home buyers as cherished sought after gems that are being bought up at a fast clip.
The data reveals that despite the negative publicity of late of the Boston condo market may enter into a real estate bubble it has proven to be very resilient dispite the recent price fluctuations.
To view more information on the Boston condo market visit Ford Realty at its website at http://www.fordrealty.net
John Ford is the President and owner of Ford Realty Inc., in Boston, Ma.
Source: www.articlealley.com
