According to the Multiple Listing Service (MLS), Boston Condo sales continued at a record pace during the first half of the year, with several different neighborhoods taking the lead as sales prices increased. Brighton had the hottest sales in the $236K – $283K range with 44 sales, Jamaica Plain had 42 sales in the $330K – $380K range, South Boston had 48 sales in the $493K – $580K range, and the South End had 69 sales in the $740K – $1.125 range. Back Bay recorded 84 sales that exceeded $1.125M in price.
Many factors were considered however it appears that when buyers cannot find a home in a particular price range, it is not uncommon for the buyer to consider moving up and spending more, even if it’s in a different neighborhood.
Many Boston real estate professionals agree that most buyers will spend more if the buying opportunity is good, no matter what the neighborhood.