The Hub’s Hottest Condominium Markets
David Bates / August 3, 2013-6:19 pm
The Bates Real Estate Report award for the hottest Greater Boston condominium market in the first half of 2013 goes to….Envelope, please…. Cambridge!
Congratulations, Cambridge. The way you increased your median first half sales price from $392K in 2009 to $510K this year was truly admirable. Yet, not only did you hike prices by 30% in this time period, but you actually increased your first half transactions by more than 50%. Incredible! What do you have to say?
“First, I’d like to thank my worthy competitors. Brookline, you are hot. South Boston, I can’t believe that I’m standing here instead of you. I’d also like to thank the corporations and universities that give Cambridge such appeal and the real estate agents who sell that appeal to the real estate consuming public. Most of all I’d like to thank the buyers, my biggest fans, who made it all happen. I couldn’t have done it without you. Thank you. “
Thank you, Cambridge….The Bates Real Estate Report runner-up for hottest Greater Boston condominium market in the first half of the year goes to ….New Construction! Man, New Construction, this year you really showed us how much a hole in the ground could do. Give you a steel frame and you might be able to sell out an entire project at record pricing. Excellent job! What do you have to say?
“I’d like to thank the few people who believed in me, like Millennium Partners and Chestnut Hill Realty and the developers in South Boston and the South End and anyone else who decided to build-up at at time when it seemed that all things real estate were coming down. Just remember, no matter what the banks say, you can do it! If you build it in our market, they will come! I’m very happy to come in second this year, but just wait til next year!”
Thank you, New Construction, I’ll look forward to seeing what you do next year.
(This post is a different is a somewhat different take on my more serious recent Banker and Tradesman column on “Greater Boston’s Hottest Condominium Markets: Determining Which Markets Are on Fire.” For a copy of the B and T column, email me.)