And now to Boston, where a chill wind blows. Sales of Beantown condos fell 12.3% during the first nine months of 2005, compared with last year's record-breaking figures. Boston brokers say the whole market's shivering.
''We're seeing a slowdown across all price ranges -- I don't care whether it's a $300,000 unit or a $3 million unit," Chris Tuite, a North End real estate agent told The Boston Globe. ''I attribute it to too many natural disasters, a quiet stock market, and people are scared about rising interest rates, even though they're still at historic lows."Hmm. Natural disasters in Boston, huh? We're thinking, we're thinking, we're...Ah, right. In any case, despite the slowdown in sales volume (or maybe because of it), the median condo sales price in Boston rose 10% over last year to $462,000, or just a few dollars shy of half of Manhattan's 3Q condo median [warning: pdf].
· Hub condo market cools over record 2004 pace [Boston Globe via Boston Real Estate Blog]
· National Report: Build 'em Up, Tear 'em Down [Curbed]