Real estate

Boston condo market continues hot streak

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The demand for condominiums in many Boston neighborhoods continued to surge during the third quarter, with 40 percent of units citywide selling above the asking price, data released Thursday show.

Bidding wars were most common in areas such as the South End, Beacon Hill and Charlestown, with up to 54 percent of the condos fetching more than seller’s initial price, according to LINK, a Boston company that tracks condo sales in 12 sections of Boston.

The competition among prospective buyers drove up the median price to a citywide record of $525,000 for the period between July and September. nearly 8 percent higher than during the same period last year.

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