Different measures of the condominium market
A December 2015 article reported that condominium prices had approached single-family prices. The cited June comparison covered five counties: condominium prices were approximately 99% of single-family prices. The account contrasted that with a Boston comparison from 2000, when a typical condominium cost roughly two-thirds as much as a single-family home.
These comparisons do not have identical geographic scope. The article also described a Boston luxury-sales sample: four condominiums sold for at least $1,500 per square foot in 2007, compared with 69 sales at that threshold during 2015 to the point of the report.
New construction and limited supply
The account connected demand with limited inventory and relocating businesses. It reported that Millennium Tower was still under construction and more than 90% presold. Those presales and price measures are historical observations; they do not establish present inventory, prices or a continuing relationship between condominium and single-family values.
Historical account attributed to the original Boston City Properties article. Underlying records and later outcomes have not been freshly verified.
