For The First Time, Greater Boston Condo Prices Equal Single-Family Homes

By Jim Morrison 

For the first time in the region’s history, the median sale price of a single condo unit in Greater Boston is virtually equal to the median sale price of a single-family home.

“It tells a mammoth story about the change in demand of the type of housing people are seeking,” said Barry Bluestone, founding director of the Dukakis Center. “In 2000, condos sold for two-thirds the price of a single-family home in Greater Boston. Today, their median sales prices are virtually identical – and it’s being driven by demographics.”

The convergence of the price points is due to increased demand for high-end units from both younger buyers and current homeowners, according to the latest “Greater Boston Housing Report Card,” a report prepared by the Kitty and Michael Dukakis Center for Urban and Regional Policy at Northeastern University for The Boston Foundation.

Read the full article here.

 

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