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Elliman Report: Downtown Boston Sales 1Q 2019

A year-ago, record prices and heavy sales volume were caused by an unexpected surge in high-end new development legacy closings, i.e., contracts signed two to four years earlier that happened to close in a concentrated window of time. Comparison to an unusual number of sales that went to contract several years prior served to overstate market performance last year and understate market performance now. For example, Q1-2018 closings were the highest first quarter number of sales in…

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