The Boston Globe recently acknowledged what many in Massachusetts already know. Condominiums are the superior choice over a home.
No backyards, no garages, no privacy what many would call the American dream. Instead Bostonians are opting for convenience and location. No yard work means more time to play, or work.
According to the Globe:
Condo prices this year increased 13 percent through the first five months of the year, compared with a 6 percent increase for single-family homes, according to the Warren Group, a Boston firm that tracks real estate.Statewide, sales of single-family homes declined almost 4 percent, compared with the same period in 2013, while condo sales rose 9 percent.
In downtown Boston, average price per square foot of $728 set a record in the second quarter, the Boston data firm LINK reported, 12 percent higher than the same period last year.
And the average square-foot price for luxury units, which include concierge services and other amenities, rose nearly 15 percent, to $1,188.