Boston condos and real estate sales report for week ending December 30, 2012

The following is Boston Proper condo and real estate sales data for the month ending December 30 2012, (December 23 2012), (January 1 2012), (December 25 2011), (January 1 2011), (January 1 2010), (January 1 2009), and (January 1 2008) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 218 (228) 444 (467) (476) (712) (N/A)
Average days on market: 147 (141) 165 (159) (175) (166) (N/A)
Median list price: $975,000 ($995,000) $781,500 ($775,000) ($669,000) ($629,000) (N/A)
Average list price: $1,569,380 ($1,573,809) $1,202,386 ($1,184,088) ($1,153,939) ($1,100,440) (N/A)

Number of units sold (past 30 days): 165 (156) 136 (120) (164) (152) (86)
Average days on market: 76 (75) 131 (118) (109) (138) (97)
Median close price: $725,000 ($715,000) $575,000 ($560,000) ($624,000) ($566,500) ($540,050)
Average close price: $1,033,834 ($987,834) $849,506 ($852,203) ($944,233) ($747,209) ($784,379)
Original list to close price: 95% (95%) 93% (93%) (95%) (92%) (93%)
Sales velocity: $170,582,577 ($154,102,167) $115,532,834 (102,264,346) ($154,854,170) ($113,575,735) (67,456,610)

Thoughts: Boston had a very good year for real estate buyers and sellers. Prices were high due to limited supply which meant buyers were faced with few choices and high prices. Still, I think most were happy with their purchases. Sellers remain on the sidelines, worried about the economy. Many have equity in their homes so are content to sit and wait for the situation to improve … but for how long?

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.

Author: John Keith

John A Keith is a licensed real estate broker in Boston, Massachusetts. He helps buyers and sellers of condos and single-family homes in all of Boston’s neighborhoods.

He is also a writer whose work has appeared in South End News, Boston Courant, Back Bay Patch, and Boston Herald.