Looking Back at the 2009 Condo Market

February 19, 2010

As prices in the Boston condo market finally began to rebound at the end of last year, prices on this side of the river remained high through 2009:

Cambridge Condos:
fewer units sold, prices slightly higher
667 units sold in 2009 (compared to 748 in 2008)
$415,000 median price; up from $414,000 in ’08 (+.2%)

Somerville Condos: more units sold, prices higher
360 units sold in 2009 (compared to 329 in 2008)
$363,500 median price; up from $350,000 in ’08 (+3.9%)

Boston Condos:
fewer units sold, prices down
3,627 units sold in 2009 (compared to 3,869 in 2008)
$348,000 median price; down from $372,000 in ’08 (-6.5%)

If you’d like more info on the subject, including data for single families and other metro-area towns, get in touch and I’ll be happy to send you a PDF of the Greater Boston Real Estate Board’s “Real Estate Rewind” report.

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