Urban condo sales, prices fall
The volume of condominium sales in many Boston neighborhoods fell 12 percent in the fourth quarter, as the median sales price for a condo dipped 4.1 percent to $465,000 from the same period a year ago, Listing Information Network reported today.
The firm, known as LINK, tracks condo sales activity in many Boston neighborhoods including the Back Bay, Beacon Hill, and Charlestown.
During the fourth quarter, 638 condos were sold in the neighborhoods that LINK follows, down from 725 condos that were sold in the fourth quarter of 2006, according to LINK.
In an e-mail, LINK president Debra Taylor Blair attributed the sales decline to the impact of sub-prime mortgage lending crisis on the economy.
For all of 2007, the number of urban condos sold in its territory was 3,466, down 0.03 percent from 3,467 condos sold during 2006, according to LINK.
The 2007 median selling price for an urban condo was $460,000, up 2.7 percent from the 2006 median selling price for 2006, LINK figures showed.
(By Chris Reidy, Globe staff)
