
Urban Core Condo Sales Hit Five-Year Low
Condominium sales volume in the Boston urban core dropped to the lowest level in five years as rising mortgage rates favored rentals over home ownership, according to a Boston brokerage.
Condominium sales volume in the Boston urban core dropped to the lowest level in five years as rising mortgage rates favored rentals over home ownership, according to a Boston brokerage.
Experienced agents say there’s a number of possible reasons why more Boston-area single-family listings appear to be hanging around on the market than condos. But one thing is certain: Condos are no longer the affordable option.
Median prices of condos in core Boston neighborhoods rose 8.51 percent to $949,500 in the third quarter, driven by limited supply and continuing strong demand.