Boston’s high-end condo sales stay strong
Kevin Ahearn of Otis & Ahearn was interviewed by CNBC recently:
“Our high end is surging,” says Boston Realtor and marketing executive Kevin Ahearn, president of Otis & Ahearn, which controls 14.5 percent of the downtown market. “Pricing and fundamentals are as strong as they’ve ever been.”
As of mid year, transactions at Otis & Ahearn were running 7 percent over 2007, a record year when it netted $450 million in sales …
… Sales of $1 million-plus units now represent almost 15 percent of the total, double that of 2004. As of late July, the number of $2-million-plus transactions had already surpassed the 2007 peak. The $3-million-plus segment is the fastest growing; 33 properties have closed, double that of 2004.
This data is no doubt true. It probably doesn’t matter to the typical buyer looking to spend under $1 million.
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