The Greater Boston condo market has shown remarkable strength through the recession and economic maelstrom that has been the past few years.
The Standard & Poors / Case-Shiller real estate index reported that that Boston metropolitan area condo prices rose 62.5% between January 2000 and August 2011.
Case-Shiller estimates that LA prices are 74% higher than in January 2000, San Francisco’s are 35% higher, Chicago’s are 15% higher, and New York City condo prices have doubled what they were in January 2000.
Greater Boston condo prices reached their zenith in October 2005 when they were 83.68% higher than January 2000. Since October 2005, it’s estimated that Boston condo values have dropped 11%.
In comparison, Los Angeles condo values are down 40% from their high, San Francisco values are down 32%, Chicago values are down 28%, and New York values are down 11%, according to Case-Shiller.
