Boston real estate market: High on the high end

Boston’s luxury condominium market, hard hit by the economic downturn over the last two years, is making a dramatic comeback that some say signals renewed faith in high-end real estate. Sales and median prices in the city’s full-service luxury buildings jumped by more than 50 percent in the first quarter of this year, according to data expected to be released today by Listing Information Network, a private Boston company that tracks the downtown condo market. Buyers closed deals for 94 units in luxury buildings in the first quarter, a 59.3 percent increase from the anemic 59 deluxe condos sold in the first quarter of 2009, according to the data. The median selling price of $874,150 was 56.1 percent higher than the same time period in 2009.


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For more information on Boston real estate sales, go to Gibson Sotheby's International Realty, Boston's real estate experts