Boston condo sales up 20% in 2012; prices relatively flat for year
The Warren Group has released 2012 condo sales data for Boston Proper and other Boston neighborhoods.
Condo sales volume in Boston Proper rose 19.58% for the year ending December 31, 2012 when compared to one year earlier. Boston Proper includes the South End, Back Bay, Beacon Hill, West End, Waterfront, North End, Leather District, Chinatown, Bay Village, and Fenway neighborhoods.
Median condo price in 2012 was flat, pretty much, up 2.88% compared to 2011.
Other major Boston neighborhoods saw positive results.
Dorchester sales for the year were up 2.93% while prices were up 13.33%.
Jamaica Plain sales for the year were up 20.86% while prices were up 4.55%.
Roxbury sales for the year were up 20.09% while prices were up 3.21%.
South Boston sales for the year were up 30.74% while prices were up 8.11%.
My expectations for 2013 are that condo sales volume will continue to rise (it’s already at an all-time high). Inventory levels are at rock bottom right now and have been for much of the past year; even with nothing from which to choose, it seems buyers aren’t going to wait to buy.
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