How much does Boston impact Massachusetts condo prices?
Boston has a huge impact on the Massachusetts condo market and this article quantifies that impact: Boston added over $50,000, or 15%, to the median price of a condo in Massachusetts in 2016.
Boston luxury condo boom continues
YTD sales of condos priced at $1,000 per sf and above have reached 826, more than double the 377 at this time last year.
Boston – where millennials cannot afford to buy a home
A recent Bloomberg article cited a study showing 13 cities where millennials cannot afford to buy a home. While Boston is not as a bad as some of California’s cities, it still ranked number 10 on the survey.
Boston rents set a record
The average rent in Boston in the fourth quarter of 2015 topped $2,000 for the first time, rising 5.5% from a year earlier
Buying is still cheaper than renting in Boston
After all the reports of sky-rocketing condo prices in Boston it may come as a surprise to read that buying is still cheaper than renting in Boston, but that is the statistically-based claim made in the Buy vs Rent Index produced by Florida Atlantic University and Florida International University.
$20 million Boston condos? Bring’em on!
Just a couple of days after posting Tiny house with great views for $40,000 I read Why Boston can’t build ultra luxury condos fast enough on Boston.com. According to the article: “the new Four Seasons tower (One Dalton) has opened sales office, with its 180 ultra high-end condos, some of which have the potential to break the $20 million mark, expected to go fast as well.”
GE to move to Boston
As has by now been widely reported GE is moving its corporate offices from Fairfield, CT to Boston. This is great news for the city, as GE’s move will likely attract other businesses. And, of course, the move will only serve to add demand to the real estate market, both in Boston and nearby towns with ready access to the city.
Where retires want to live – Boston
The National Association of Realtors has released a report listing the 10 markets which are expected to see the most retiree buying activity in 2016. And where do retirees want to live? Boston.
Boston condos still selling over list price
According to the Boston Business Journal Greater Boston condos sold over list price for the fourth consecutive month in July.