It seems that the Boston condo market is going at ‘full throttle’ again with buyers showing more confidence in the economy, continuing low interest rates and a very tight supply of condos to choose from. Prices and condo sales are no doubt on the upswing again. In August the median price for condos in the Boston area was $380,000, 3.5% higher than during the same month last year. Sales of condos surged 23.1% to 1190 units in August. The condo market is hot in Boston and appears to be getting hotter.
Jamaica Plain had the quickest turn around time and South Boston area sales are continuing to be hot. Most Boston real estate experts agree that the demand is robust because of the fact that money continues to be cheap.