Tuesday, November 22, 2005

Cold Weather, Cooling Prices In Boston

As reported by the Boston Herald:

But on Beacon Hill, the median price fell by 10.4 percent, to $394,500, as total units sold plunged by 9.2 percent in the quarter, data shows.

In the South End, the median price of condos fell by 14 percent, to $472,500, with unit sales off by 37.8 percent compared to a year ago.

“The prices are coming down,” said Virginia Saillant, a Realtor at Atlantic Properties in the South End. She expressed confidence the market will bounce back, once inventories are sold off.

2 comments:

  1. 'once inventories are sold off' that concept is fine- but when will the inventories be sold 'off'? 1 year 2 years 3 years?
    And if inventories are the same in the spring or higher (which is likely) what happens then?

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  2. Yuk, yuk. Guess that's true, but I might not be alive that long.

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