Boston luxury apartments and Boston condos have remained fairly stable over the last few years in sought-after areas such as Davis Square and Cambridge. Despite little movements up and down, there haven’t been huge spirals downward. If you look at the prices of Boston condos and Boston luxury apartments in Davis Square there is no indication that Boston real estate sellers in this area are concerned about the housing market the way other sellers are. Is this just another bubble that will eventually burst? As the double dip in real estate numbers spread across the country, will the Boston luxury apartments and Boston condos in Davis Square remain immune? While we can only speculate as to what may happen, it seems as though there are small warnings. Boston real estate in Cambridge has seen prices as low as they were in 2009, having gone back down after their jump as a result of the home buyer tax credit. In addition, it has been noted that the number of Somerville condos, Somerville luxury apartments, and Boston real estate in general being sold at a loss has increased to 43%. Regardless, one could argue that Cambridge and Davis Square have many advantages over other areas outside of Boston.
Davis Square is centrally located and has a great deal to offer its residents. Do you think Davis Square real estate will maintain its value or do you think it will be subject to the same pressures to lower sale prices that the rest of the country is seeing?