If you were to think where the Boston condo market was
currently, what would you guess? Boston condo sales have just
recently seen a 22.5 percent increase between the months of July
and September compared to last year. That’s 823 condos sold in
Boston! There seems to be a lot of buzzing around the city
with clients regaining their confidence in the Boston real estate
market.
There has been great progressive strides made for the luxury
market. A 27.6 percent increase in this years third quarter
demolishes the numbers from last year.
The Boston real estate market in comparison to that of
Massachusetts has also performed well. Still moving in a positive
direction, the state has risen 10 percent in sales in the third
quarter compared to last years results, although this is still
trumped by the aforementioned 22.5 percent increase in the greater
Boston area.
Larry Rideout (Gibson Sothebys International Realty CEO) was
interviewed by Boston.com explaining our commitment to selling the
high-end luxury real estate which has a trickle down effect to
benefiting the market as a whole. Generally, Mr. Rideout believes
that the individuals selling the broad market homes look to
purchase in the upper echelon of Boston real estate. It is now the
point in time where this confidence within the consumer base is
allowing them to sell their first homes and look to other
alternatives such as luxury Boston living. Mr. Rideout concludes
his point by stating, “The money has started to step off the
sidelines.“