2010: an extraordinary year for downtown Boston real estate and condo sales
Dec 2010 30

The downtown Boston real estate market was on fire during 2010. Contrary to what was happening elsewhere in Boston, in Massachusetts, and in the United States, sales volume remained strong while average and median sales prices rose to their highest levels in six years (and, presumably, ever).

It’s an extraordinary thing, given the grueling economy (my catch phrase) and almost-double digit unemployment rate. However, Boston is different in a lot of ways than other major US cities. For one thing, we didn’t have a lot of construction during the go-go years, unlike such places as Las Vegas and Miami. And, even though hundreds of thousands of Massachusetts’ residents are out of work, the unemployment rate for those with college degrees is much lower than the average, as little as 4.5%, according to the Bureau of Labor Statistics.

It’s considered de rigueur to talk about “good times” while everyone’s suffering. I’m not, nor am I being smug (my business was slow this year). It’s just reporting the facts.

For details on the sales volume and median and average sales prices for the Boston real estate and condo market, click through to read my Boston Herald Getting Real blog.

Above, 150 Beacon Street, PH, Back Bay, Boston, Massachusetts, the highest-priced sale of the year (according to MLSPIN), $8.5 million. Tracy Campion of Campion & Company Fine Homes Real Estate was the listing broker.

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