Boston condo market shows continued strength
Nov 2011 05

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.

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