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.


To read the full story, go to www.boston.com.


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

Boston real estate update: National real estate market rises

Boston’s real estate market, along with the rest of the country has seen a lot of positive growth over the first quarter of this year. According to the National Association of Realtors, sales increased from a year ago in 44 states and the District of Columbia; 31 states and D.C. saw double-digit gains while two were unchanged and four were down. National Association of Realtors President, Vicki Cox Golder, said there’s been a change in market psychology. “Buyer confidence is back, and home buyers have long-term views. The typical buyer plans to stay in their home for 10 years, so we’ve put the flipping mentality behind us and most people see housing for what it is – shelter that provides social benefits and is also a good long-term investment,” Golder said.

To read the full story, go to NAR.com.

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

Boston real estate company seeing sales growth

Boston luxury real estate company, Gibson Sotheby’s International Realty, has seen growth in market share in the first five months of 2010. Now ranked as number five in the state – and the only Boston-based firm in the top five – the firm has closed more than 200 sides for almost $150 million since January 1, with well over 150 scheduled to close in May and June (source: MLS). And it’s not just the activity from the federal tax credit. In fact, Gibson Sotheby’s closed 15 sides for homes over $1 million and has 25 more scheduled to close.

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