According to real estate company Movoto, the median price of a condominium in the city of Boston has increased 11% to since 2010, to $434,000, while the median price per square foot is down a scant $7 to $445/square foot.
Inventory has plummeted during the same time (perhaps, not a coincidence of events?), down 54%, from 1,979 to 908 condominiums currently listed for sale.
This is not news to anyone who follows my blog (anyone?).
The numbers are a bit skewed, or, really, just misleading, since we?re just now getting into the fall season and we haven?t seen the typical spike we see after the Labor Day holiday. We may never see it, but my guess is there will be a jump during the next fortnight(?!) which will bring the difference in inventory down to a lesser number.
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