Boston condos for sale and real estate sales report for week ending April 22, 2012

The following is Boston Proper condo and real estate sales data for the week ending April 22 2011, (April 15 2011), (April 24 2011), (April 24 2010), and (April 22, 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 617 (620) (919) (1,300) (n/a)
Average days on market: 105 (109) (126) (110) (n/a)
Median list price: $759,000 ($749,000) ($639,000) ($584,500) (n/a)
Average list price: $1,099,498 ($1,107,815) ($972,532) ($956,787) (n/a)

Number of units under agreement: 202 (191) (157) (188) (n/a)

Number of units sold (past 30 days): 123 (139) (113) (121) (83)
Average days on market: 109 (127) (137) (116) (119)
Median close price: $575,000 ($579,000) ($682,000) ($524,000) ($510,000)
Average close price: $843,231 ($810,542) ($941,435) ($840,810) ($756,473)
Original list to close price: 95% (94%) (94%) (94%) (94%)
Sales velocity: $103,717,384 ($112,665,280) ($106,382,148) ($101,738,044) ($62,787,235)

Thoughts: We can expect under agreements to increase during the coming six weeks as buyers make their final decisions. Units sold will increase after that, as buyers move from making offers to closing deals.

Notice that original list to close price is at 95% – this is high. This means that, from the original list price (not taking into account any price drops) to closing, buyers were only able to negotiate prices down about 5%, on average. In fact, between $450,000 and $700,000, the averages were 97-99%. This is because there isn’t a lot of inventory from which to choose – sellers don’t have to negotiate.

This report includes sales and inventory information for condominiums located in the following downtown Boston neighborhoods: South End, Back Bay, Beacon Hill, West End, North End, Waterfront, Seaport District, Chinatown, Leather District, Midtown, and Fenway.

Data collected from third-party sources by the Multiple Listing Service Property Information Network, Inc.

Boston condo prices up, volume down by 1/3 in 2012

There were fewer condo sales but higher average and median prices in Boston during the first-quarter of 2012, when compared to years past.

Year Sales Median$ Average$
2012 620 $402,000 $558,474
2011 572 $370,000 $561,232
2010 728 $345,000 $517,307
2009 523 $298,500 $401,985
2008 659 $385,000 $546,300
2007 920 $363,500 $494,877
2006 834 $365,000 $458,523
2005 792 $338,500 $441,074

What we can’t see from above is the level of inventory on the market at any one time. This year, for sure, there are fewer condominiums for sale than in some of the previous years. So, although volume is down compared to some years (off a third from 2007), so are the number of condos listed for sale.

There are 1,473 condos listed for sale in the city of Boston today. If there have been ~200 sales during each of the past three months, then there might be 2,400 sales during 2012. This means there is about a seven month supply of condos available. That’s a fair number (an even market is 5-8 months of supply) but the selection available to buyers in the downtown Boston neighborhoods is more restricted than what you’d see in the outer boroughs. (More to follow.)

Meaning the problem we had with too few condos available to too many buyers continues …

Boston Sunday Open Houses for April 22, 2012 in the Back Bay, South End, and Beacon Hill neighborhoods

Below, a complete list of all Sunday open houses scheduled for the weekend of April 22, 2012 in the South End, Back Bay, Beacon Hill, Seaport District, The Fenway, and Midtown neighborhoods of Boston.

Click on the MLS # to see full details of each listing.

Please contact me for more information and to inquire about buyer’s agent representation.

For the complete list of Sunday open houses on an MS Excel spreadsheet, click below:

Boston Sunday Open Houses April 22, 2012

MLS # Address Neighborhood Description Date / Time Price
71368852 389 Beacon U:6 Boston, MA : Back Bay 1 room, 0 bed, 1f 0h bath Townhouse Apr 22 1:30 PM to 3:00 PM $248,500
71333461 1091 Boylston U:59 Boston, MA : Back Bay 4 room, 1 bed, 1f 0h bath Mid-Rise Apr 22 2:15 PM to 3:30 PM $299,900
71333725 511 Beacon U:11 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Rowhouse Apr 22 12:45 PM to 1:45 PM $320,000
71355951 40 Saint Botolph St U:# B1 Boston, MA : Back Bay 4 room, 1 bed, 1f 0h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $354,000
71355960 40 Saint Botolph St U:# 24 Boston, MA : Back Bay 4 room, 1 bed, 1f 0h bath Mid-Rise Apr 22 12:00 PM to 1:00 PM $414,000
71364198 501 Beacon St U:8 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Rowhouse Apr 22 2:30 PM to 3:30 PM $439,000
71331363 478 Beacon St U:8 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Low-Rise Apr 22 12:00 PM to 1:00 PM $450,000
71355392 400 Marlborough St U:9 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Rowhouse Apr 22 1:30 PM to 3:00 PM $459,000
71368447 362 Commonwealth Avenue U:5B Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 22 12:00 PM to 1:00 PM $489,000
71240924 33 Bay State Road U:5 Boston, MA : Back Bay 4 room, 1 bed, 1f 0h bath Brownstone Apr 22 2:00 PM to 3:00 PM $519,000
71369820 160 Commonwealth Avenue U:420 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Low-Rise Apr 22 1:00 PM to 2:30 PM $529,000
71348168 481 Beacon U:44 Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Mid-Rise Apr 22 11:30 AM to 12:30 PM $549,000
71366003 1 Charles St S U:409 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Hi-Rise Apr 22 12:00 PM to 1:15 PM $569,000
71368548 74 Commonwealth Avenue U:10 Boston, MA : Back Bay 4 room, 1 bed, 1f 0h bath Rowhouse Apr 22 1:30 PM to 2:30 PM $599,900
71351029 486 Beacon Street U:1 Boston, MA : Back Bay 4 room, 1 bed, 1f 0h bath Brownstone Apr 22 2:00 PM to 3:30 PM $619,000
71314556 407 Marlborough St U:3B Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Brownstone Apr 22 11:30 AM to 1:00 PM $639,000
71326242 349 Commonwealth Ave U:1b Boston, MA : Back Bay 4 room, 1 bed, 1f 1h bath Brownstone Apr 22 1:00 PM to 2:00 PM $649,999
71341741 407 Marlborough St U:4B Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Brownstone Apr 22 11:30 AM to 1:00 PM $679,000
71365890 15 Blackwood St U:2 Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $699,000
71369774 109 Beacon St U:5 Boston, MA : Back Bay 5 room, 2 bed, 1f 1h bath Brownstone Apr 22 1:30 PM to 2:30 PM $759,000
71342359 15 Blackwood St U:3 Boston, MA : Back Bay 5 room, 2 bed, 1f 0h bath Brownstone Apr 22 12:00 PM to 1:00 PM $760,000
71351710 356 Marlborough Street U:4 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Brownstone Apr 22 11:30 AM to 1:00 PM $764,000
71290409 34 Commonwealth Avenue U:3 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Townhouse Apr 22 1:30 PM to 2:30 PM $769,000
71208914 285 Columbus Ave U:703 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 12:00 PM to 2:00 PM $779,000
71348031 274 Beacon Street U:2-1E Boston, MA : Back Bay 5 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 11:30 AM to 1:00 PM $824,000
71365458 295 Beacon St U:31 Boston, MA : Back Bay 6 room, 3 bed, 1f 0h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $829,000
71351945 388 Marlborough St U:9 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Rowhouse Apr 22 1:00 PM to 2:00 PM $845,000
71358346 57 Marlborough Street U:4 Boston, MA : Back Bay 3 room, 1 bed, 2f 0h bath Townhouse Apr 22 1:00 PM to 2:00 PM $849,000
71365609 478 Beacon St U:#5/7 Boston, MA : Back Bay 5 room, 2 bed, 2f 0h bath Brownstone Apr 22 12:00 PM to 1:00 PM $885,000
71368731 400 Marlborough U:8 Boston, MA : Back Bay 6 room, 2 bed, 2f 0h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $1,050,000
71366223 236 Marlborough St U:3 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Rowhouse Apr 22 12:00 PM to 1:30 PM $1,095,000
71335128 360 Newbury St U:605 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 12:30 PM to 1:30 PM $1,199,900
71369624 126 Commonwealth Ave U:4 Boston, MA : Back Bay 6 room, 2 bed, 2f 0h bath Rowhouse Apr 21 12:30 PM to 2:00 PM $1,425,000
71369624 126 Commonwealth Ave U:4 Boston, MA : Back Bay 6 room, 2 bed, 2f 0h bath Rowhouse Apr 22 12:45 PM to 2:30 PM $1,425,000
71307910 410 Boylston Street U:4 Boston, MA : Back Bay 8 room, 3 bed, 2f 1h bath Townhouse Apr 22 12:30 PM to 1:30 PM $1,699,000
71307909 410 Boylston Street U:3 Boston, MA : Back Bay 8 room, 3 bed, 2f 1h bath Townhouse Apr 22 12:30 PM to 1:30 PM $1,799,000
71359393 229 Beacon U:4 Boston, MA : Back Bay 7 room, 3 bed, 2f 1h bath Brownstone Apr 22 12:00 PM to 2:00 PM $1,950,000
71350438 100 Beacon Street U:3B Boston, MA : Back Bay 7 room, 3 bed, 2f 1h bath Brownstone Apr 22 1:45 PM to 2:45 PM $2,300,000
71333062 30 Commonwealth Avenue U:PH Boston, MA : Back Bay 6 room, 2 bed, 2f 2h bath Brownstone Apr 22 1:30 PM to 2:30 PM $2,495,000
71359685 347 Commonwealth Ave U:E Boston, MA : Back Bay 7 room, 3 bed, 2f 1h bath Townhouse Apr 22 2:30 PM to 3:30 PM $2,499,000
71335782 294 Newbury St U:PH Boston, MA : Back Bay 6 room, 3 bed, 3f 0h bath Brownstone Apr 22 12:00 PM to 1:30 PM $2,869,000
71306337 2 Arlington Street U:1 Boston, MA : Back Bay 6 room, 2 bed, 2f 1h bath Brownstone Apr 22 11:15 AM to 12:15 PM $2,950,000
71336417 400 Stuart St U:26A Boston, MA : Back Bay 8 room, 4 bed, 4f 1h bath Hi-Rise Apr 22 12:00 PM to 1:30 PM $4,300,000
71299238 163 Marlborough Street U:2/4 Boston, MA : Back Bay 9 room, 4 bed, 4f 1h bath Detached Apr 22 11:30 AM to 1:00 PM $5,200,000
71367221 21 Temple Street U:4 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 0h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $299,000
71368534 70 Revere St U:4 Boston, MA : Beacon Hill 2 room, 1 bed, 1f 0h bath Rowhouse Apr 22 11:30 AM to 1:00 PM $329,000
71322993 51 Anderson Street U:1 Boston, MA : Beacon Hill 4 room, 2 bed, 1f 0h bath Mid-Rise Apr 22 12:30 PM to 1:30 PM $450,000
71369746 30 Anderson St U:1 Boston, MA : Beacon Hill 4 room, 2 bed, 1f 0h bath Rowhouse Apr 22 1:30 PM to 3:00 PM $499,000
71364552 80 W Cedar St U:4 Boston, MA : Beacon Hill 2 room, 1 bed, 1f 0h bath Rowhouse Apr 22 11:30 AM to 1:00 PM $570,000
71363096 5 Grove Street U:2 Boston, MA : Beacon Hill 5 room, 3 bed, 2f 0h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $574,900
71355837 145 Charles U:3 Boston, MA : Beacon Hill 4 room, 2 bed, 1f 0h bath Brownstone Apr 22 1:00 PM to 2:30 PM $649,000
71368348 63 Myrtle Street U:#5 Boston, MA : Beacon Hill 5 room, 3 bed, 2f 0h bath Rowhouse Apr 22 2:30 PM to 4:00 PM $729,000
71365701 25 Brimmer St U:1 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 1h bath Brownstone Apr 21 12:00 PM to 1:00 PM $749,000
71365701 25 Brimmer St U:1 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 1h bath Brownstone Apr 22 12:00 PM to 1:30 PM $749,000
71369772 16 Hancock St U:1 Boston, MA : Beacon Hill 5 room, 2 bed, 1f 1h bath Rowhouse Apr 22 11:00 AM to 1:30 PM $759,000
71358199 35 Mount Vernon U:#1 Boston, MA : Beacon Hill 4 room, 2 bed, 1f 1h bath Rowhouse Apr 22 12:00 PM to 2:00 PM $775,000
71317863 10 Bowdoin Street U:417 Boston, MA : Beacon Hill 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 2:00 PM to 3:00 PM $815,000
71357096 51 Mt. Vernon Street U:1 Boston, MA : Beacon Hill 5 room, 2 bed, 2f 1h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $899,000
71352580 9 Temple Street U:3 Boston, MA : Beacon Hill 5 room, 2 bed, 2f 0h bath Rowhouse Apr 22 11:00 AM to 12:30 PM $899,900
71365058 49 Hancock U:8 Boston, MA : Beacon Hill 8 room, 3 bed, 2f 0h bath Townhouse Apr 22 1:00 PM to 2:00 PM $949,000
71323262 34.5 Beacon U:1N Boston, MA : Beacon Hill 6 room, 1 bed, 1f 1h bath Rowhouse Apr 22 3:45 PM to 5:00 PM $999,000
71363887 41-43 Phillips St U:4 Boston, MA : Beacon Hill 6 room, 2 bed, 2f 1h bath Other (See Remarks) Apr 22 1:00 PM to 2:00 PM $1,289,000
71365792 65 Anderson U:3c Boston, MA : Beacon Hill 6 room, 2 bed, 2f 1h bath Brownstone Apr 22 12:00 PM to 2:00 PM $1,500,000
71346007 81 Myrtle St Boston, MA : Beacon Hill 9 room, 4 bed, 3f 1h bath Other (See Remarks) Apr 22 2:00 PM to 3:00 PM $1,575,000
71368388 1 Lime St Boston, MA : Beacon Hill 6 room, 2 bed, 3f 0h bath Other (See Remarks) Apr 22 1:00 PM to 2:30 PM $1,795,000
71361055 8A Walnut Street Boston, MA : Beacon Hill 10 room, 4 bed, 4f 1h bath Other (See Remarks) Apr 22 12:30 PM to 1:30 PM $5,599,000
71340856 289 Devonshire St U:3 Boston, MA : Financial District 4 room, 2 bed, 2f 0h bath Loft Apr 22 1:00 PM to 3:00 PM $739,000
71347324 42 Beach Street U:9D Boston, MA : Midtown 3 room, 1 bed, 2f 0h bath Hi-Rise Apr 21 2:00 PM to 4:00 PM $449,000
71353379 42 Beach Street U:4B Boston, MA : Midtown 3 room, 1 bed, 1f 0h bath Hi-Rise Apr 21 2:00 PM to 4:00 PM $488,000
71365629 141 Dorchester Avenue U:1003 Boston, MA : Seaport District 3 room, 1 bed, 1f 0h bath Hi-Rise Apr 22 1:00 PM to 2:30 PM $419,000
71365616 141 Dorchester Avenue U:216 Boston, MA : Seaport District 3 room, 1 bed, 1f 0h bath Hi-Rise Apr 22 1:00 PM to 2:30 PM $489,000
71364797 3-a Dorchester St U:3-a Boston, MA : Seaport District 5 room, 3 bed, 2f 0h bath Townhouse Apr 22 11:00 AM to 1:00 PM $599,000
71364787 398 West First St U:398 Boston, MA : Seaport District 5 room, 3 bed, 2f 0h bath Townhouse Apr 22 11:00 AM to 1:00 PM $619,000
71358216 141 Dorchester Avenue U:210 Boston, MA : Seaport District 4 room, 2 bed, 2f 0h bath Hi-Rise Apr 22 1:00 PM to 2:30 PM $649,000
71365633 141 Dorchester Avenue U:502 Boston, MA : Seaport District 4 room, 2 bed, 2f 0h bath Hi-Rise Apr 22 1:00 PM to 2:30 PM $859,000
71368136 9 West Broadway U:613 Boston, MA : Seaport District 6 room, 2 bed, 2f 1h bath Mid-Rise Apr 22 12:00 PM to 1:00 PM $1,100,000
71332495 25 Channel Center U:803 Boston, MA : Seaport District 4 room, 2 bed, 2f 1h bath Mid-Rise Apr 22 12:30 PM to 1:30 PM $1,299,999
71253616 9 West Broadway U:618 Boston, MA : Seaport District 7 room, 3 bed, 4f 0h bath Mid-Rise Apr 22 12:00 PM to 1:00 PM $1,799,000
71305890 69 E. Berkeley Street U:10 Boston, MA : South End 1 room, 0 bed, 1f 0h bath Mid-Rise Apr 22 12:30 PM to 2:00 PM $329,000
71368962 49 Worcester St U:4 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Rowhouse Apr 22 11:30 AM to 1:00 PM $419,000
71369087 42 W Newton St U:1-9 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Low-Rise Apr 22 12:00 PM to 1:00 PM $429,000
71370032 80 West Concord Street U:2 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Rowhouse Apr 21 1:30 PM to 2:30 PM $485,000
71370032 80 West Concord Street U:2 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Rowhouse Apr 22 1:00 PM to 3:00 PM $485,000
71363311 35 Fay St U:315 Boston, MA : South End 2 room, 1 bed, 1f 0h bath Mid-Rise Apr 22 1:30 PM to 2:30 PM $485,000
71362713 133 Pembroke U:2 Boston, MA : South End 4 room, 1 bed, 1f 0h bath Rowhouse Apr 22 12:00 PM to 1:30 PM $485,000
71369791 700 Harrison Avenue U:513 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 22 12:00 PM to 2:00 PM $489,000
71357254 27 Worcester Sq U:5 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Townhouse Apr 22 12:00 PM to 1:30 PM $499,000
71351198 266 Shawmut Ave U:2 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Rowhouse Apr 22 11:30 AM to 1:00 PM $539,000
71354635 209 W Canton St U:5 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Rowhouse Apr 22 3:30 PM to 4:30 PM $549,000
71369730 80 W Concord St U:5 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Brownstone Apr 22 12:00 PM to 1:30 PM $569,000
71368737 314 Shawmut Ave U:6 Boston, MA : South End 5 room, 2 bed, 1f 1h bath Rowhouse Apr 22 12:00 PM to 1:30 PM $569,000
71348462 74 Warren Ave U:1 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Low-Rise Apr 22 1:30 PM to 3:00 PM $575,000
71365255 143 W. Brookline Street U:203 Boston, MA : South End 6 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 12:00 PM to 1:00 PM $579,000
71358237 608 Tremont U:4 Boston, MA : South End 6 room, 2 bed, 1f 1h bath Townhouse Apr 22 1:45 PM to 3:00 PM $595,000
71342053 22 Bradford St U:2 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Rowhouse Apr 22 1:00 PM to 2:00 PM $619,000
71330765 735 Harrison U:406 Boston, MA : South End 2 room, 1 bed, 1f 0h bath Mid-Rise Apr 22 1:30 PM to 2:30 PM $619,000
71369739 77 Waltham St U:7 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Brownstone Apr 22 2:00 PM to 3:30 PM $635,000
71369696 485-495 Harrison Ave U:203 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Mid-Rise Apr 22 1:30 PM to 3:00 PM $639,000
71358836 21 Milford St U:1 Boston, MA : South End 6 room, 2 bed, 2f 0h bath Rowhouse Apr 22 2:00 PM to 3:30 PM $649,000
71366058 12 Isabella Street U:1 Boston, MA : South End 6 room, 2 bed, 3f 0h bath Townhouse Apr 22 1:00 PM to 2:30 PM $679,000
71365837 17 Worcester Square U:2 Boston, MA : South End 4 room, 2 bed, 1f 1h bath Rowhouse Apr 22 11:30 AM to 1:00 PM $679,000
71354768 557 Massachusetts Ave U:5 Boston, MA : South End 6 room, 3 bed, 1f 1h bath Rowhouse Apr 22 2:00 PM to 3:00 PM $684,000
71336728 663 Tremont Street U:1 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $695,000
71366053 38 Rutland Square U:3 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Townhouse Apr 22 2:30 PM to 3:45 PM $697,500
71368563 187 Warren Ave. U:2 Boston, MA : South End 6 room, 2 bed, 1f 1h bath Townhouse Apr 22 12:00 PM to 2:00 PM $699,000
71365264 198 W. Springfield Street U:4 Boston, MA : South End 6 room, 3 bed, 1f 1h bath Rowhouse Apr 22 2:30 PM to 3:30 PM $699,000
71354636 27 Worcester St U:4 Boston, MA : South End 5 room, 2 bed, 1f 1h bath Rowhouse Apr 22 2:30 PM to 3:30 PM $699,000
71331539 520 Shawmut U:4 Boston, MA : South End 4 room, 2 bed, 1f 1h bath Rowhouse Apr 22 12:30 PM to 2:30 PM $699,900
71365491 77 W Brookline St U:3 Boston, MA : South End 4 room, 2 bed, 2f 1h bath Rowhouse Apr 22 1:30 PM to 2:30 PM $725,000
71331031 27 Wareham Street U:304 Boston, MA : South End 4 room, 1 bed, 1f 0h bath Mid-Rise Apr 22 1:30 PM to 2:30 PM $729,000
71348129 146 Worcester St U:4 Boston, MA : South End 5 room, 2 bed, 2f 0h bath Townhouse Apr 22 12:30 PM to 2:00 PM $779,900
71351334 3 Haven St Boston, MA : South End 5 room, 2 bed, 1f 1h bath Victorian Apr 22 1:30 PM to 3:00 PM $799,000
71362422 325 Columbus Ave U:11 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Rowhouse Apr 22 11:30 AM to 1:00 PM $799,000
71351343 3 Haven St U:3 Boston, MA : South End 5 room, 2 bed, 1f 1h bath Townhouse Apr 22 1:30 PM to 3:00 PM $799,000
71350840 2 Rollins St U:D604 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 12:00 PM to 1:00 PM $829,000
71365814 39 Worcester Street U:1 Boston, MA : South End 5 room, 2 bed, 2f 1h bath Garden Apr 22 1:30 PM to 3:00 PM $899,000
71344604 21 Father Francis Gilday St U:113 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 12:30 PM to 1:30 PM $899,000
71365984 34 Worcester Sq. U:1 Boston, MA : South End 7 room, 3 bed, 4f 0h bath Brownstone Apr 22 2:30 PM to 4:00 PM $899,000
71356499 25 Fayette St U:1 Boston, MA : South End 4 room, 2 bed, 2f 1h bath Townhouse Apr 22 1:00 PM to 2:00 PM $959,000
71338850 35 Worcester Square U:1 Boston, MA : South End 7 room, 2 bed, 2f 1h bath Rowhouse Apr 23 5:00 PM to 6:30 PM $959,000
71369514 1 Concord Square U:5 Boston, MA : South End 7 room, 4 bed, 2f 0h bath Rowhouse Apr 22 12:00 PM to 1:30 PM $999,000
71338678 21 Fr Francis Gilday St. U:111 Boston, MA : South End 5 room, 3 bed, 2f 0h bath Mid-Rise Apr 22 1:00 PM to 2:00 PM $1,049,000
71344953 35 Upton St U:1 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Rowhouse Apr 22 11:30 AM to 1:00 PM $1,050,000
71341784 1313 Washington St U:423 Boston, MA : South End 2 room, 2 bed, 2f 0h bath Mid-Rise Apr 22 12:00 PM to 1:30 PM $1,050,000
71338676 21 Father Francis Gilday Street U:106 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Other (See Remarks) Apr 22 12:00 PM to 1:00 PM $1,075,000
71366066 117 Pembroke St U:1 Boston, MA : South End 4 room, 2 bed, 2f 1h bath Brownstone Apr 22 12:00 PM to 1:00 PM $1,085,000
71334149 38 Melrose St U:2 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Townhouse Apr 20 12:00 PM to 1:00 PM $1,100,000
71325499 19 Worcester St U:1 Boston, MA : South End 5 room, 2 bed, 2f 1h bath Rowhouse Apr 22 1:00 PM to 2:00 PM $1,150,000
71358890 31 Upton St U:3 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Rowhouse Apr 22 1:30 PM to 3:00 PM $1,265,000
71366632 33 Dwight Street U:3 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Rowhouse Apr 22 1:30 PM to 3:00 PM $1,275,000
71336729 663 Tremont Street U:2 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $1,425,000
71369678 6 E Concord St Boston, MA : South End 10 room, 5 bed, 3f 1h bath Contemporary Apr 22 11:30 AM to 2:00 PM $1,474,500
71361358 83 Worcester St U:3 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Townhouse Apr 22 2:30 PM to 3:30 PM $1,495,000
71360969 20 Holyoke St U:1 Boston, MA : South End 8 room, 4 bed, 2f 0h bath Townhouse Apr 22 11:30 AM to 12:30 PM $1,695,000
71365130 32 Rutland St. U:1R Boston, MA : South End 5 room, 2 bed, 2f 0h bath Brownstone Apr 22 12:00 PM to 2:00 PM $1,995,000
71329101 11-1/2 Union Park U:PH Boston, MA : South End 6 room, 3 bed, 2f 1h bath Brownstone Apr 21 12:00 PM to 1:00 PM $2,000,000
71329101 11-1/2 Union Park U:PH Boston, MA : South End 6 room, 3 bed, 2f 1h bath Brownstone Apr 22 12:00 PM to 2:00 PM $2,000,000
71355323 27 Braddock Park U:1 Boston, MA : South End 7 room, 3 bed, 3f 1h bath Rowhouse Apr 22 12:00 PM to 1:00 PM $2,379,000
71368972 32 Rutland St. U:3R Boston, MA : South End 7 room, 3 bed, 2f 5h bath Brownstone Apr 22 12:00 PM to 2:00 PM $2,495,000
71355515 82 Jersey St. U:31 Boston, MA : The Fenway 3 room, 1 bed, 1f 0h bath Low-Rise Apr 22 1:00 PM to 2:30 PM $295,000
71342018 118 The Riverway U:32 Boston, MA : The Fenway 3 room, 1 bed, 1f 0h bath Courtyard Apr 22 12:30 PM to 1:30 PM $309,500
71347021 386 Riverway U:2 Boston, MA : The Fenway 5 room, 1 bed, 1f 0h bath Rowhouse Apr 22 11:30 AM to 12:30 PM $349,000
71366901 11 Park Dr U:17 Boston, MA : The Fenway 3 room, 1 bed, 1f 0h bath Attached Apr 22 1:00 PM to 2:00 PM $349,500
71358845 78 Gainsborough Street U:006E Boston, MA : The Fenway 3 room, 1 bed, 1f 0h bath Brownstone Apr 22 12:00 PM to 1:00 PM $359,000

Above,

Many Boston condos going under agreement are old and tired listings

The Boston real estate market is as strong as it ever has been – stronger, even. Condos sold during the past thirty days in the Boston Proper neighborhoods is at a level higher than in 2011, 2010, or 2009 (and, for all years back to 2003 except for 2007, the height of the bubble).

What’s changed this year is that total units listed for sale is down from prior years. There were 620 condos on the market as of this past Sunday, whereas there were 937 (50% more) condos on the market on the same date back in 2010. There were twice as many condos listed for sale this week in 2009.

Looking at the units that have gone under agreement during just the past seven days, I’m struck by how varied the activity has been – some of the condos are going under agreement within just a couple days of being listed while others have been on the market for three or four months, but some have been on the market for a year or longer.

boston condos under agreement

I don’t have prior years’ data at hand so I can’t say whether this situation is any different from what we’ve seen in earlier years. But, it sticks out to me as something unusual, so I feel it is significant.

The properties that have been listed a long time are getting acceptable offers, even after all this time. Interestingly, several of the listings that finally went under agreement never had price changes – their owners kept the listings close to or at their original prices. (The several I researched had drops of $5-$10,000, so nothing significant.) Eventually, the homeowners’ stubbornness paid off and they have evidently found suitable buyers.

This leads me to believe that it’s because there’s limited supply out there from which buyers can choose. When the economy cratered, many owners took their properties off the market and decided to wait for better times. Others just kept their properties listed the entire time.

Now it looks as though some aged listings are seeing activity. What’s changed is that there are more buyers out there looking, pre-approvals in hand, ready to pounce when they see a property they like.

Usually, the “good” properties (priced accurately, nice quality, appealing interiors, right size) go under agreement within a period of weeks or within the first four to six weeks. That’s pretty much true in any market we’ve seen in the last decade. Then, there are those that drag on, and eventually the owners will reduce the prices, but it might be too late. The listings look old and tired and picked over. The owners might just leave their homes listed for sale or pull them from the market.

Again, I think the “old” listings” getting offers are condos that are being looked at seriously by buyers who can’t find enough of the type of properties they are looking for.

Boston condos for sale and real estate sales report for week ending April 15, 2012

The following is Boston Proper condo and real estate sales data for the week ending April 15 2011, (April 8 2011), (April 17 2011), (April 17 2010), and (April 17, 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 620 (583) (937) (1,291) (n/a)
Average days on market: 109 (115) (123) (109) (n/a)
Median list price: $749,000 ($749,900) ($629,000) ($579,000) (n/a)
Average list price: $1,107,815 ($1,133,932) ($969,818) ($955,058) (n/a)

Number of units under agreement: 191 (184) (152) (186) (n/a)

Number of units sold (past 30 days): 139 (129) (110) (120) (103)
Average days on market: 127 (134) (147) (117) (123)
Median close price: $579,000 ($579,000) ($687,250) ($538,250) ($505,000)
Average close price: $810,542 ($780,628) ($999,638) ($870,655) ($755,774)
Original list to close price: 94% (94%) (94%) (94%) (93%)
Sales velocity: $112,665,280 ($100,700,980) ($109,960,231) ($104,478,544) ($77,844,735)

Thoughts: Keep n mind that average and median closing prices typically drop when there is more business since you get a lot more closings in the mid-price range of condos. (Although we didn’t see that this week.)

This report includes sales and inventory information for condominiums located in the following downtown Boston neighborhoods: South End, Back Bay, Beacon Hill, West End, North End, Waterfront, Seaport District, Chinatown, Leather District, Midtown, and Fenway.

Data collected from third-party sources by the Multiple Listing Service Property Information Network, Inc.