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While sales and prices of Boston-area single family homes both saw gains in April, including double-digit growth in home sales, condos sales fell 4 percent year over year, and condo prices were down 5.8 percent over April 2018, according to the Greater Boston Association of Realtors. It wasn’t exactly a monthly fluke, either: Year-to-date, the total number of condo sales is down 3.7 percent.

In the city of Boston, in particular, condo sales were down 10.1 percent through April, and the median price was off 3.2 percent, down from $640,000 to $619,500. Condos took an additional 11 days to sell, too, compared to the first four months of 2018. That’s despite some more positive signs for the local condo market, like a 12.5 percent bump in new listings year to date, and a 14 percent increase in pending sales over April 2018.
We asked a few local agents who specialize in condos what they’ve seen this spring to help make sense of this mixed bag of data.
Josh Muncey of the Muncey Group at RE/MAX Destiny said the Boston condo market is simply too neighborhood-specific to allow for broad generalizations.
“Neighborhoods like South Boston and the Seaport may be subject to more market …

Article From: "Jon Gorey"   Read full article

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