Over the past few weeks, the condominium market in Boston has been at a very high level. The inventory rates in the city center have dropped significantly, and prices are still rising. Many of the villas in Boston that we’ve tracked over the past few weeks have received a full or higher price under the contract, showing stability and possible insanity in the real estate market in Boston in 2007.
Last week we all read about the madness of real estate that is happening in Manhattan right now. These are the buyers who expected the bubble to break in the last 18 months, and now they are before buying or renting for another year? Are low interest rates still active in our market? What causes the new update of the real estate market in Boston?
New condo projects in Boston are also on the hot seat. Thanks to even more projects, this indicates the absence of luxury condominiums or fully equipped villas. We are pleased to see more of this type of condo property, which is being built as it is the wave of the future. Back Back, Beacon Hill, Brighton Allston, Charlestown, Chinatown, Fenway, Leather District, Midtown, North End, Seaport, South Boston, South End, Waterfront and West End in Boston are all hot and booming in the center of Boston.
Not surprisingly, some of the nearest suburbs, such as Brooklyn, Newton, Medford and Quincy, are also gaining momentum. Traditionally, these markets do not serve the young specialist with a full range of services, but we see that all new types of luxury condominiums appear in the southern areas of Boston.
