The Lower the Inventory, The Higher the…

David Bates / April 10, 2014-11:11 am

The median asking price for a Boston condo on April 1.

The median asking price for a Boston condo on April 1.

I charted the last ten years of Boston’s median asking prices for April 1 and this is what I got. In a supply and demand world, it should come as no surprise that as supply plummeted, prices spiraled. 

On April 1, 2011, Boston had 1,780 condos on the market and the median asking price for them was just $400K. On April 1, 2014, however, Boston had barely one-quarter the amount of condos on the market and the median asking price had skyrocketed to $569,000.

Will this trend continue? Stay tuned!