Boston High-End Luxury Condos Gets Release From Press

Has the press finally seen the light?  After an entire year of bad press after bad press, the luxury market in downtown Boston gets a sunny-side-up review!

The Boston Hearld reports today that …

Condominium sales may have tanked statewide, but Boston’s luxury condo market is still cruising along.

Sales of condos priced at $600,000 or more rose to 849 from January through November, up from 806 for the same period in 2007, a 5.3 percent increase, according to The Warren Group, publisher of Banker & Tradesman.

Meanwhile, the median price for high-end properties increased by 3.7 percent to $959,000 this year, up from $925,000 in 2007.

“People want to live in downtown Boston and that hasn’t changed,” said Tracy Campion, a broker who specializes in luxury sales. “A Tiffany necklace is still a Tiffany necklace.”

While the constant drumbeat of bad real estate news has sent some agents seeking other careers, Boston’s downtown neighborhoods continue to sell. The trend appears to fit the law of supply and demand. One year ago, the MLS Property Information Network listed 471 condos priced above $600,000. Today the total is 403.

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