Real Estate Market Heats Up In Boston

Luxury condominums in downtown Boston are still managing to sell, despite the nationwide real estate downturn.

Boston Herald: Sales of condos priced at $600,000 or more rose to 849 from January through November, up from 806 for the same period in 2007, a 5.3 per cent increase, according to The Warren Group, publisher of Banker & Tradesman.

Meanwhile, the median price for high-end properties increased by 3.7 per cent to $959,000 this year, up from $925,000 in 2007.

Real estate brokers credit the law of supply and demand for their relative success in an otherwise bleak market. They saw a slight dip in the number of listings this year, while the demand for addresses in desirable downtown neighborhoods has remained steady.

So if you were hoping for a deal on a Newbury Street brownstone, think again.

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