Here you get a glimpse of the real estate market in Boston as reported by the Boston Globe.
The price of living in the heart of Boston is fast approaching an average of $1 million, as condominium sales sizzle and values surge.
Condominium sales in downtown Boston and surrounding sections — including Beacon Hill, the Back Bay, and the South End — jumped more than 17 percent in the first three months of the year, compared with the same time last year, according to LINK, a company that tracks sales in a dozen central city neighborhoods.
The average sale price climbed to just under $950,000.
Luxury units, which usually take longer to sell, are flying off the market. In the first three months of 2014, they sold in an average of just 20 days, compared with 167 days in the same period last year.
With sleek new residential towers and seven-figure selling prices, the central city is attracting financiers, doctors, foreign investors, and well-heeled baby boomers looking to “downsize,” taking on a tony character that many real estate specialists liken to Manhattan’s. At the same time, the trend is raising concerns that Boston, like New York, is becoming a community of extremes, a city of rich and poor with little room for those in the middle.
Latest posts by E.J. Smith (see all)
- Can Private Equity Really Save Sinking Pension Funds? - March 25, 2019
- Here’s How States Can Double Their Manufacturing Job Growth - March 22, 2019
- Welcome to Florida - March 21, 2019