Median Price - Condo

This plot shows the median price of a condo (thousands of $) in Massachusetts for the last three years. The data are freely available from the Massachusetts Association of Realtors. As with the prices for single family homes, the prices have flattened noticeably in 2005. We are now at median prices below those achieved as early as May of 2004. A cross-over to year over year losses looks imminent, especially with continuing condo construction evident around the Boston metro area and swelling inventories.

The Boston Herald has an assessment of the November numbers, with typical spin from various interested parties. The Boston Globe has a similar report.

Note: The MAR switched from reporting average price to median price in 2003; the raw data go back much farther in time, but for the sake of accurate comparisons I am only plotting median data here.

-DT