Boston condo sales down ~5% in January 2013
The Warren Group is out with its latest condo sales data and it shows a slight slowdown in the Boston condo market.
Sales volume in the downtown Boston market dropped 4.94% in January 2013 when compared to the same month a year earlier. Median sales price for the month was down 9.33%. The downtown Boston market includes the South End, Back Bay, Beacon Hill, North End, West End, Waterfront, Midtown, Chinatown, Leather District, Bay Village, and Fenway neighborhoods.
This is confusing to me since MLSPIN data shows continued price and volume increases month over month, as I report weekly.
Given that almost all towns and cities in Massachusetts had price and volume increases, my thinking is that it’s a timing issue or fluke in the data. Things are pretty strong out there.
Dorchester volume was off 33% while median price was down 14.93%.
Jamaica Plain volume was up 14% while median price was up 20%.
South Boston volume was down 22% while median price was up 14.67%.