Downtown Boston Condo Prices Remain Strong

The Boston Globe reported April 14, 2007 that Downtown Boston condo prices rose 7 percent in the first quarter.

"Prices for condominiums in the city jumped 7 percent in the first quarter of this year, compared to the same period in 2006, to a median $489,800, according to preliminary market figures compiled by Otis & Ahearn, a Boston real estate brokerage and marketing firm. In contrast, prices for single-family homes in Massachusetts fell 5.7 percent in the same period, according to Global Insight, a Waltham economic and consulting firm.

"The downtown condo market 'is cooking,' said Kevin Ahearn, Otis & Ahearn's president. 'There's very aggressive buying' in all price ranges, he said."

Ahearn predicted that when the final condo sales figures are in, downtown sales may surpass the first-quarter record set in 2005, which had 784 units sold.

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