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.

?????! New closings recorded at 45 Province, in Boston's Downtown Crossing neighborhood

Two new closings have been recorded in the new 45 Province condominium project, located at the foot of Boston’s Beacon Hill neighborhood, in the Downtown Crossing shopping district.

The first was a 12th-floor, two-bedroom, two-bathroom home with approximately 1,117 square feet of space. At a closing price of $837,000, this is $749 per square foot.

The second was a 12th-floor, two-bedroom, two-bathroom home with approximately 1,318 square feet of space. At a closing price of $872,000, this is $661 per square foot.

45 Province is a luxurious 135-unit condominium project. Several of the homes remaining for sale have sweeping views of the Boston Harbor, Boston Common, and points north, south, east and west.

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

Photo above of a model unit from the 45 Province sales team.

The Clarendon | Back Bay records latest closing, $1,900,000

The latest closing at The Clarendon, in Boston’s Back Bay neighborhood, has been recorded.

This was a 21st-floor, two-bedroom, two-bathroom home with approximately 1,372 square feet of space. At a closing price of $1,900,000, this is $1,385 per square foot.

A few homes remain in the ultra-luxury Clarendon condominium and apartment complex, including two penthouses with ~3,500 square feet of space.

Please contact me for complete details and to inquire about buyer’s agent representation.

Photo above from the MLSPIN listing of the model unit.

S???a??t???a! Three closings recorded at fun, hip W Boston Residences

Three closings have been recorded in the W Boston Residences and Hotel, located in Boston’s Theater District, located near the Back Bay and Downtown Crossing neighborhoods.

The first was a 22nd-floor, one-bedroom, one-bathroom home with approximately 878 square feet of space. At a closing price of $690,000, this was $786 per square foot.

The second was a 27th-floor, two-bedroom, two and #&189;-half bathroom home with approximately 1,872 square feet of space. At a closing price of $2,200,000, this was $1,175 per square foot.

The third closing was a 23rd-floor, studio home with one bathroom and approximately 512 square feet of space. At a closing price of $480,000, this was $937 per square foot.

Sales were booming at the W in April. A few homes remain of all sizes in the iconic, sleek tower.

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

Image above from MLSPIN, of the model unit at the W Boston.

Boston Sunday Open Houses for April 15, 2012 in the South End, Back Bay, Beacon Hill neighborhoods

A complete list of all single-family and condominium homes in Boston with open houses scheduled for the weekend of April 15, 2012.

Properties are located in the Beacon Hill, Back Bay, South End, Midtown, and Seaport District neighborhoods.

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

For a complete list on an Excel spreadsheet, click here:

Boston Sunday Open Houses on April 15, 2012

MLS # Address Neighborhood Description Date / Time Price
71333725 511 Beacon U:11 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Rowhouse Apr 15 12:45 PM to 1:45 PM $320,000
71340834 144 Commonwealth Ave U:10 Boston, MA : Back Bay 2 room, 1 bed, 1f 0h bath Brownstone Apr 15 12:30 PM to 1:30 PM $329,000
71340834 144 Commonwealth Ave U:10 Boston, MA : Back Bay 2 room, 1 bed, 1f 0h bath Brownstone Apr 15 12:30 PM to 1:30 PM $329,000
71364111 393 Commonwealth Ave U:G Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Brownstone Apr 15 12:00 PM to 1:00 PM $395,000
71366007 260 Beacon Street U:2 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 1:30 PM to 2:30 PM $424,000
71333852 415 Beacon Street U:3 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Rowhouse Apr 15 12:30 PM to 1:30 PM $425,000
71364198 501 Beacon St U:8 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Rowhouse Apr 15 2:00 PM to 3:30 PM $439,000
71365853 124 Beacon St U:5F Boston, MA : Back Bay 4 room, 1 bed, 1f 0h bath Brownstone Apr 15 12:00 PM to 1:30 PM $449,000
71366388 243 W Newton St U:2 Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Rowhouse Apr 15 12:00 PM to 1:30 PM $479,000
71354457 146 Marlborough Street U:7 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Brownstone Apr 15 12:00 PM to 1:00 PM $497,000
71319752 282 Newbury St U:8 Boston, MA : Back Bay 5 room, 2 bed, 1f 0h bath Mid-Rise Apr 15 1:00 PM to 3:00 PM $499,900
71349183 133 Marlborough St U:11 Boston, MA : Back Bay 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 12:00 PM to 1:30 PM $542,000
71348168 481 Beacon U:44 Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Mid-Rise Apr 15 11:30 AM to 12:30 PM $549,000
71317762 29-R Bay State Rd U:PH Boston, MA : Back Bay 4 room, 2 bed, 1f 1h bath Brownstone Apr 15 1:00 PM to 2:00 PM $595,000
71314556 407 Marlborough St U:3B Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Brownstone Apr 15 1:30 PM to 2:30 PM $639,000
71326242 349 Commonwealth Ave U:1b Boston, MA : Back Bay 4 room, 1 bed, 1f 1h bath Brownstone Apr 15 12:30 PM to 1:30 PM $649,999
71341741 407 Marlborough St U:4B Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Brownstone Apr 15 1:30 PM to 2:30 PM $679,000
71365890 15 Blackwood St U:2 Boston, MA : Back Bay 4 room, 2 bed, 1f 0h bath Rowhouse Apr 15 12:30 PM to 2:00 PM $699,000
71364955 1 Charles St S U:902 Boston, MA : Back Bay 3 room, 1 bed, 1f 1h bath Hi-Rise Apr 14 12:30 PM to 2:00 PM $739,000
71342359 15 Blackwood St U:3 Boston, MA : Back Bay 5 room, 2 bed, 1f 0h bath Brownstone Apr 15 12:00 PM to 2:00 PM $760,000
71351710 356 Marlborough Street U:4 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Brownstone Apr 15 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 15 1:00 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 15 12:00 PM to 2:00 PM $779,000
71365263 285 Columbus Ave U:702 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Hi-Rise Apr 15 12:00 PM to 1:30 PM $799,000
71348031 274 Beacon Street U:2-1E Boston, MA : Back Bay 5 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 12:00 PM 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 15 11:00 AM to 12:30 PM $829,000
71358346 57 Marlborough Street U:4 Boston, MA : Back Bay 3 room, 1 bed, 2f 0h bath Townhouse Apr 15 12:00 PM to 1:30 PM $849,000
71351945 388 Marlborough St U:9 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Rowhouse Apr 15 12:30 PM to 1:30 PM $855,000
71365609 478 Beacon St U:#5/7 Boston, MA : Back Bay 5 room, 2 bed, 2f 0h bath Brownstone Apr 15 12:00 PM to 1:30 PM $885,000
71314576 327 Beacon St U:1 Boston, MA : Back Bay 4 room, 2 bed, 2f 1h bath Brownstone Apr 15 1:30 PM to 3:00 PM $949,000
71299230 163 Marlborough Street U:3 Boston, MA : Back Bay 6 room, 2 bed, 2f 0h bath Detached Apr 15 11:30 AM to 1:00 PM $950,000
71351515 295 Beacon U:2 Boston, MA : Back Bay 10 room, 3 bed, 2f 1h bath Rowhouse Apr 15 12:00 PM to 2:00 PM $959,000
71366223 236 Marlborough St U:3 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Rowhouse Apr 15 1:00 PM to 2:30 PM $1,095,000
71308370 50 Commonwealth Ave U:201 Boston, MA : Back Bay 6 room, 3 bed, 2f 0h bath Mid-Rise Apr 15 1:00 PM to 2:30 PM $1,195,000
71335128 360 Newbury St U:605 Boston, MA : Back Bay 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 12:00 PM to 1:00 PM $1,199,900
71254547 308 Commonwealth Ave U:2C Boston, MA : Back Bay 6 room, 3 bed, 2f 0h bath Other (See Remarks) Apr 15 11:30 AM to 1:00 PM $1,295,000
71365820 195 Marlborough St U:1 Boston, MA : Back Bay 6 room, 2 bed, 2f 1h bath Brownstone Apr 15 12:00 PM to 1:00 PM $1,375,000
71365063 308 Commonwealth Ave U:D Boston, MA : Back Bay 8 room, 4 bed, 2f 0h bath Rowhouse Apr 14 11:30 AM to 1:00 PM $1,575,000
71365063 308 Commonwealth Ave U:D Boston, MA : Back Bay 8 room, 4 bed, 2f 0h bath Rowhouse Apr 14 11:30 AM to 1:00 PM $1,575,000
71307908 410 Boylston Street U:2 Boston, MA : Back Bay 8 room, 3 bed, 2f 1h bath Townhouse Apr 15 12:30 PM to 1:30 PM $1,899,000
71307911 410 Boylston Street U:5 Boston, MA : Back Bay 8 room, 3 bed, 2f 1h bath Townhouse Apr 15 12:30 PM to 1:30 PM $1,999,000
71333062 30 Commonwealth Avenue U:PH Boston, MA : Back Bay 6 room, 2 bed, 2f 2h bath Brownstone Apr 15 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 15 1:00 PM to 2:30 PM $2,650,000
71335782 294 Newbury St U:PH Boston, MA : Back Bay 6 room, 3 bed, 3f 0h bath Brownstone Apr 15 1:30 PM to 2:30 PM $2,869,000
71306337 2 Arlington Street U:1 Boston, MA : Back Bay 6 room, 2 bed, 2f 1h bath Brownstone Apr 15 12:00 PM to 1:00 PM $2,950,000
71366176 11 Irving St U:6 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 14 11:00 AM to 12:00 PM $319,900
71366176 11 Irving St U:6 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 12:00 PM to 1:30 PM $319,900
71362010 15 River St U:805 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 11:00 AM to 12:00 PM $449,000
71322993 51 Anderson Street U:1 Boston, MA : Beacon Hill 4 room, 2 bed, 1f 0h bath Mid-Rise Apr 15 2:30 PM to 3:30 PM $450,000
71357312 19 Temple Street U:5 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 0h bath Townhouse Apr 15 1:30 PM to 3:00 PM $479,000
71363364 37 Revere St U:6 Boston, MA : Beacon Hill 4 room, 2 bed, 1f 0h bath Mid-Rise Apr 15 11:30 AM to 12:30 PM $490,000
71354760 1 Garden Street U:9 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 12:00 PM to 1:00 PM $504,000
71364552 80 W Cedar St U:4 Boston, MA : Beacon Hill 2 room, 1 bed, 1f 0h bath Rowhouse Apr 15 11:30 AM to 1:00 PM $570,000
71328947 40 Joy Street U:13 Boston, MA : Beacon Hill 4 room, 2 bed, 1f 1h bath Low-Rise Apr 15 1:00 PM to 2:00 PM $677,000
71365701 25 Brimmer St U:1 Boston, MA : Beacon Hill 3 room, 1 bed, 1f 1h bath Brownstone Apr 14 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 15 11:30 AM to 1:00 PM $749,000
71365049 1 Primus Ave U:11 Boston, MA : Beacon Hill 6 room, 3 bed, 1f 0h bath Rowhouse Apr 15 12:00 PM to 2:00 PM $775,000
71350423 25 Revere Street U:5 Boston, MA : Beacon Hill 6 room, 3 bed, 2f 0h bath Rowhouse Apr 15 11:30 AM to 12:30 PM $779,000
71298928 22 River U:2 Boston, MA : Beacon Hill 6 room, 2 bed, 2f 0h bath Rowhouse Apr 15 12:00 PM to 2:00 PM $820,000
71345365 25 Temple St U:1 Boston, MA : Beacon Hill 6 room, 2 bed, 2f 1h bath Townhouse Apr 15 12:00 PM to 1:00 PM $829,000
71352580 9 Temple Street U:3 Boston, MA : Beacon Hill 5 room, 2 bed, 2f 0h bath Rowhouse Apr 15 12:00 PM to 1:30 PM $899,900
71365058 49 Hancock U:8 Boston, MA : Beacon Hill 8 room, 3 bed, 2f 0h bath Townhouse Apr 15 12:00 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 15 12:30 PM to 1:30 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 15 12:00 PM to 1:00 PM $1,289,000
71347450 30 Lime Street U:2 Boston, MA : Beacon Hill 5 room, 2 bed, 2f 0h bath Duplex Apr 15 1:30 PM to 2:30 PM $1,450,000
71353001 41-43 Phillips St U:1 Boston, MA : Beacon Hill 5 room, 2 bed, 2f 0h bath Townhouse Apr 15 12:00 PM to 1:00 PM $1,525,000
71361055 8A Walnut Street Boston, MA : Beacon Hill 10 room, 4 bed, 4f 1h bath Other (See Remarks) Apr 15 12:00 PM to 1:00 PM $5,599,000
71365616 141 Dorchester Avenue U:216 Boston, MA : Seaport District 3 room, 1 bed, 1f 0h bath Hi-Rise Apr 15 12:30 PM to 2:30 PM $489,000
71344441 141 Dorchester Ave U:116 Boston, MA : Seaport District 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 12:30 PM to 1:30 PM $585,000
71364797 3-a Dorchester St U:3-a Boston, MA : Seaport District 5 room, 3 bed, 2f 0h bath Townhouse Apr 15 11:00 AM to 12:30 PM $599,000
71364789 406 West First St U:406 Boston, MA : Seaport District 5 room, 3 bed, 2f 0h bath Townhouse Apr 15 11:00 AM to 12:30 PM $609,000
71364794 410 West First St U:410 Boston, MA : Seaport District 5 room, 3 bed, 2f 0h bath Townhouse Apr 15 11:00 AM to 12:30 PM $609,000
71364787 398 West First St U:398 Boston, MA : Seaport District 5 room, 3 bed, 2f 0h bath Townhouse Apr 15 11:00 AM to 12:30 PM $619,000
71358216 141 Dorchester Avenue U:210 Boston, MA : Seaport District 4 room, 2 bed, 2f 0h bath Hi-Rise Apr 15 12:30 PM to 2:30 PM $649,000
71364799 141 Dorchester Avenue U:1010 Boston, MA : Seaport District 5 room, 2 bed, 2f 0h bath Hi-Rise Apr 15 12:30 PM to 2:30 PM $899,000
71332495 25 Channel Center U:803 Boston, MA : Seaport District 4 room, 2 bed, 2f 1h bath Mid-Rise Apr 15 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 15 12:30 PM to 1:30 PM $1,799,000
71365999 562 Massachusetts Ave U:3 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Rowhouse Apr 15 11:30 AM to 1:00 PM $339,000
71316701 46 E Springfield St U:5 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Brownstone Apr 15 2:00 PM to 3:00 PM $369,000
71364452 617 Massachusetts Ave U:3 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Rowhouse Apr 15 1:30 PM to 3:00 PM $409,900
71354401 15 East Springfield U:4 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Brownstone Apr 15 11:30 AM to 1:00 PM $415,000
71347962 439 Shawmut Ave U:4 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Rowhouse Apr 15 1:30 PM to 3:00 PM $432,000
71355310 20 East Springfield U:3 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Brownstone Apr 15 12:30 PM to 1:30 PM $435,000
71365553 435 Shawmut U:3 Boston, MA : South End 4 room, 1 bed, 1f 0h bath Townhouse Apr 15 12:00 PM to 2:00 PM $453,000
71366106 171 Warren Avenue U:5 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Brownstone Apr 15 11:30 AM to 1:00 PM $469,000
71357254 27 Worcester Sq U:5 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Townhouse Apr 15 12:00 PM to 1:30 PM $499,000
71295245 1670 Washington St U:4 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Rowhouse Apr 15 12:00 PM to 1:30 PM $499,000
71366957 567 Tremont St U:11 Boston, MA : South End 3 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 1:00 PM to 2:30 PM $519,000
71351198 266 Shawmut Ave U:2 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Rowhouse Apr 15 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 15 12:00 PM to 1:00 PM $549,000
71348462 74 Warren Ave U:1 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Low-Rise Apr 15 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 15 1:00 PM to 2:30 PM $579,000
71358237 608 Tremont U:4 Boston, MA : South End 6 room, 2 bed, 1f 1h bath Townhouse Apr 15 1:45 PM to 3:15 PM $595,000
71362295 686 Tremont Street U:4 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Garden Apr 15 1:00 PM to 3:00 PM $619,000
71342053 22 Bradford St U:2 Boston, MA : South End 5 room, 2 bed, 1f 0h bath Rowhouse Apr 15 11:30 AM to 1:00 PM $619,000
71330765 735 Harrison U:406 Boston, MA : South End 2 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 1:30 PM to 2:30 PM $619,000
71361250 35 Fay Street U:E-217 Boston, MA : South End 4 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 12:00 PM to 1:00 PM $639,000
71358859 411 Shawmut Ave U:3 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Townhouse Apr 15 1:30 PM to 3:00 PM $649,000
71358836 21 Milford St U:1 Boston, MA : South End 6 room, 2 bed, 2f 0h bath Rowhouse Apr 15 2:00 PM to 3:30 PM $649,000
71358091 5 Appleton Street U:1A Boston, MA : South End 5 room, 2 bed, 1f 1h bath Mid-Rise Apr 15 1:00 PM to 2:00 PM $675,000
71365837 17 Worcester Square U:2 Boston, MA : South End 4 room, 2 bed, 1f 1h bath Rowhouse Apr 15 12:30 PM to 2:30 PM $679,000
71346707 92 Chandler St U:5 Boston, MA : South End 4 room, 2 bed, 1f 1h bath Brownstone Apr 15 12:00 PM to 1:30 PM $689,000
71336728 663 Tremont Street U:1 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Rowhouse Apr 15 1:30 PM to 2:30 PM $695,000
71366053 38 Rutland Sq U:3 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Townhouse Apr 15 2:30 PM to 4:00 PM $697,500
71366053 38 Rutland Sq U:3 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Townhouse Apr 15 2:30 PM to 4:00 PM $697,500
71366597 15 Blackwood St U:2 Boston, MA : South End 4 room, 2 bed, 1f 0h bath Rowhouse Apr 15 12:30 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 15 12:00 PM to 2:00 PM $699,000
71354768 557 Massachusetts Ave U:5 Boston, MA : South End 6 room, 3 bed, 1f 1h bath Rowhouse Apr 15 1:30 PM to 3:00 PM $699,000
71354636 27 Worcester St U:4 Boston, MA : South End 5 room, 2 bed, 1f 1h bath Rowhouse Apr 15 2:00 PM to 3:00 PM $699,000
71331539 520 Shawmut U:4 Boston, MA : South End 4 room, 2 bed, 1f 1h bath Rowhouse Apr 15 1:30 PM to 2:30 PM $699,900
71331031 27 Wareham Street U:304 Boston, MA : South End 4 room, 1 bed, 1f 0h bath Mid-Rise Apr 15 1:00 PM to 2:00 PM $729,000
71230031 10 Cumberland Street U:4 Boston, MA : South End 5 room, 2 bed, 2f 0h bath Brownstone Apr 15 1:00 PM to 2:00 PM $749,900
71364653 31 Concord Square U:1 Boston, MA : South End 5 room, 2 bed, 2f 0h bath Rowhouse Apr 15 11:30 AM to 1:00 PM $769,000
71348129 146 Worcester St U:4 Boston, MA : South End 5 room, 2 bed, 2f 0h bath Townhouse Apr 15 11:30 AM to 1:00 PM $779,900
71350840 2 Rollins St U:D604 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 11:45 AM to 12:45 PM $829,000
71337099 39 Worcester St. U:2 Boston, MA : South End 5 room, 2 bed, 2f 1h bath Rowhouse Apr 15 1:00 PM to 3:00 PM $879,900
71303036 691 Massachusetts U:601 Boston, MA : South End 5 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 11:30 AM to 1:00 PM $890,000
71365814 39 Worcester Street U:1 Boston, MA : South End 5 room, 2 bed, 2f 1h bath Garden Apr 15 11:30 AM to 1:00 PM $899,000
71326078 63 Dartmouth St U:1 Boston, MA : South End 4 room, 2 bed, 2f 1h bath Brownstone Apr 15 1:30 PM to 3:00 PM $899,000
71365984 34 Worcester Sq. U:1 Boston, MA : South End 7 room, 3 bed, 4f 0h bath Brownstone Apr 15 2:00 PM to 4:00 PM $899,000
71357852 1313 Washington St U:420 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 12:00 PM to 1:30 PM $899,000
71363651 76 Chandler St U:1&2 Boston, MA : South End 7 room, 3 bed, 2f 0h bath Rowhouse Apr 15 12:00 PM to 2:30 PM $925,000
71365882 7 Warren Ave U:10 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 12:00 PM to 1:30 PM $929,000
71354157 6 Edgerly Place U:PH502 Boston, MA : South End 5 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 11:30 AM to 1:00 PM $949,000
71356499 25 Fayette St U:1 Boston, MA : South End 4 room, 2 bed, 2f 1h bath Townhouse Apr 15 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 15 12:00 PM to 2:00 PM $959,000
71351862 1200 Washington St U:205 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 12:00 PM to 1:00 PM $989,000
71344606 39 Worcester Street U:3 Boston, MA : South End 6 room, 2 bed, 2f 1h bath Rowhouse Apr 15 2:30 PM to 3:30 PM $1,025,000
71338678 21 Fr Francis Gilday St. U:111 Boston, MA : South End 5 room, 3 bed, 2f 0h bath Mid-Rise Apr 15 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 15 1:30 PM to 3:00 PM $1,050,000
71341784 1313 Washington St U:423 Boston, MA : South End 2 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 12:00 PM to 1:30 PM $1,050,000
71306114 5 Dwight Street U:1 Boston, MA : South End 4 room, 3 bed, 3f 0h bath Townhouse Apr 15 12:30 PM to 2:00 PM $1,050,000
71318235 1200 Washington St U:508 Boston, MA : South End 4 room, 2 bed, 2f 0h bath Mid-Rise Apr 15 1:00 PM to 2:30 PM $1,074,000
71366066 117 Pembroke St U:1 Boston, MA : South End 4 room, 2 bed, 2f 1h bath Brownstone Apr 15 1:30 PM to 3:00 PM $1,085,000
71358838 9 Appleton St U:103 Boston, MA : South End 5 room, 2 bed, 2f 0h bath Low-Rise Apr 15 11:30 AM to 1:00 PM $1,099,000
71338676 21 Father Francis Gilday Street U:106 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Other (See Remarks) Apr 15 12:00 PM to 1:00 PM $1,100,000
71334149 38 Melrose St U:2 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Townhouse Apr 15 1:45 PM to 3:00 PM $1,100,000
71325499 19 Worcester St U:1 Boston, MA : South End 5 room, 2 bed, 2f 1h bath Rowhouse Apr 15 1:00 PM to 2:00 PM $1,150,000
71350129 4 Melrose St Boston, MA : South End 8 room, 4 bed, 2f 2h bath Antique Apr 15 12:30 PM to 2:30 PM $1,159,000
71363126 26 YARMOUTH St U:1 Boston, MA : South End 5 room, 2 bed, 2f 1h bath Rowhouse Apr 14 10:00 AM to 11:00 AM $1,159,000
71359633 17 Claremont Park U:1 Boston, MA : South End 9 room, 3 bed, 3f 0h bath Brownstone Apr 15 11:00 AM to 12:30 PM $1,195,000
71348416 29 Upton St U:1 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Brownstone Apr 15 11:00 AM to 12:00 PM $1,195,000
71328775 214 W. Springfield Street U:1 Boston, MA : South End 8 room, 4 bed, 4f 1h bath Brownstone Apr 15 1:15 PM to 2:15 PM $1,235,000
71358890 31 Upton St U:3 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Rowhouse Apr 15 11:30 AM to 1:00 PM $1,265,000
71366037 145 W Concord St U:3 Boston, MA : South End 6 room, 2 bed, 2f 1h bath Townhouse Apr 15 11:30 AM to 2:00 PM $1,269,000
71366037 145 W Concord St U:3 Boston, MA : South End 6 room, 2 bed, 2f 1h bath Townhouse Apr 15 11:30 AM to 2:00 PM $1,269,000
71366037 145 W Concord St U:3 Boston, MA : South End 6 room, 2 bed, 2f 1h bath Townhouse Apr 15 11:30 AM to 2:00 PM $1,269,000
71348172 15 Savoy St U:D-309 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Townhouse Apr 15 12:00 PM to 1:00 PM $1,295,000
71344995 486 Columbus Avenue U:1 Boston, MA : South End 7 room, 3 bed, 2f 1h bath Brownstone Apr 15 12:30 PM to 1:30 PM $1,345,000
71336729 663 Tremont Street U:2 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Rowhouse Apr 15 1:30 PM to 2:30 PM $1,425,000
71361358 83 Worcester St U:3 Boston, MA : South End 6 room, 3 bed, 2f 1h bath Townhouse Apr 15 2:30 PM to 3:30 PM $1,495,000
71355165 51 E Concord St U:2 Boston, MA : South End 9 room, 4 bed, 2f 0h bath Rowhouse Apr 15 12:00 PM to 1:30 PM $1,500,000
71360969 20 Holyoke St U:1 Boston, MA : South End 8 room, 4 bed, 2f 0h bath Townhouse Apr 15 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 15 12:00 PM to 1:30 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 14 1:00 PM to 2:00 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 15 1:00 PM to 2:30 PM $2,000,000
71355323 27 Braddock Park U:1 Boston, MA : South End 7 room, 3 bed, 3f 1h bath Rowhouse Apr 15 12:00 PM to 1:00 PM $2,379,000

Above, a single-family home at 8A Walnut Street, Beacon Hill, Boston, Massachusetts. Jeannemarie Conley of Otis & Ahearn Real Estate is the listing agent.

Tippity-top of Boston real estate market gets busy; 3rd sale for over $10 million recorded

The very top of the Boston real estate market is getting crowded.

A single-family home on Beacon Hill was purchased today for $11,000,000, one of three $10-mllion+ closings recorded thus far this year.

This circa 1846 Louisburg Square home has five bedrooms, five and #&189-half bathrooms, 8 fireplaces, and approximately 6,500 square feet of space. The purchase price included two parking spaces on the private square.

The sales price for this home is notable also because the property has been a single-family home, whereas the $12.5 million sale recorded at 15 Commonwealth Ave, earlier this month,, was for a property with ~15,000 square feet that had been turned into office / commercial space.

The third high-end sale was a condominium home in the Mandarin Oriental (a resale) that sold for $10.3 million in February.

Tracy Campion of Campion & Company Fine Homes Real Estate represented both the buyer and seller in the transaction.

The Boston real estate market has had many $1-million dollar sales over the years (see: High-end Boston condominium sales market a mixed bag in 2012, but actually very few $10-million+ sales. There were several at the Mandarin Oriental, developer direct to buyer, but on the resale market, only 7 properties have ever closed for over $10 million.

These were three units resold at the Mandarin, a penthouse condo at 51 Commonwealth Ave, and three single-family homes on Beacon Hill – the aforementioned 15 Commonwealth Ave sale, an $11.5 million Louisburg Square sale last summer, and today’s sale.

Please contact me to find out more about homes on Beacon Hill and other properties listed for sale in this price range.

Image above from MLSPIN

Top 10% of Boston real estate agents pull in 50% of the sales volume

The old adage that “20% of the people do 80% of the work / make 80% of the money” is undoubtedly true when it comes to Boston real estate agents.

The table below shows Boston condominium and single-family sales data for the 2011 calendar year. Of the thousands of licensed real estate agents in Eastern Massachusetts, 2,428 agents were a part of a deal, last year, representing either the buyer, the seller, or both. A “side” is one half of the sales transaction – the buyer’s agent and the seller’s agent both have a “side” of a sale.

There were 4,396 sales in 2011, as recorded by our local MLS. (Yeah, the table below says “2012″ but it’s actually 2011.)

boston real estate agent salary

The results are not that surprising. The ten most-successful real estate agents in the city are doing the largest number of sales, per person (~46 transactions each). What’s interesting is that only the top .5% of agents are doing 5% of the business, and 11% of the sales volume – so, more transactions, more sales of the most-expensive homes.

Makes sense; if you’re a high-end homeowner looking to list your home for sale, you’ll first search for the agents who are most successful. So, the success of the top agents leads to further success.

The top 2% of all agents handled more than 25% of the sales volume. The top 10% of all agents handled 54% of all sales volume.

What does this all mean? Well, if you’ve ever thought all real estate agents make a lot of money, you’re mistaken. Anyone in the bottom half of all agents is making at most about $25,000 per year. The 1,214th real estate agent in the city, at the median, did only $596,000 worth of business, last year. They’re probably part-time agents who do a couple deals per year, perhaps for family or friends.

The top 20% of agents, all 500 of them, make perhaps $60,000 – $80,000 per year. They’re closing a deal a month, so roughly estimate they’re with 5-6 clients per month (the majority who won’t buy anything). How many leads they follow to get those 5-6 clients can’t be calculated; if direct mail’s return rate is 2%, then it takes 100 leads to get 2 clients. So, they’re reaching to hundreds of potential clients every month.

Does $60,000 per year for a full-time, Boston-based real estate agent seem like a lot of money to you? Do you think agents earn their incomes? Would you work for 100% commission? How many years of little or no business would you accept before making enough to support yourself?

What is the most important value of a real estate agent, do you think? How did you choose your agent? Does previous success make you feel the agent is “better” than the others?

Data collected from third-party sources by the Multiple Listing Service Property Information Network, Inc. Data cannot be verified or deemed complete. (Sales do not include developer-direct and foreclosures, for example.)