Boston Condo Report Q1 2016 With Robert Nichols

5.18.16  BY Robert Nichols

The Boston Condo market continued to rise in the first quarter of 2016. Average sales value was up 3%, Median sales value was up 6% and Days to offer was down 17% from 42 days to 35 Days and the total sales volume was up 16% from 618 condos sold in Q1 2015 up to 715 in Q1 2016. Fueled by low rates and low inventory, buyers are aggressively looking to purchase Boston condos. We may be close to the peak, but the second quarter will provide a much better indication of where the market is headed. It is also important to note that the Q1 2016 increases may be due to the severe Q1 2015 historic winter weather.