Boston condos and real estate sales report for week ending 3/3/2013

The following is Boston Proper condo and real estate sales data for the month ending March 3 2013 (February 24 2013) March 4 2012 February 26 2012 March 6 2011 (February 27 2011) (and March 6 2010) and March 6 2009 where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 289 (280) 541 520 704 (668) (990) N/A
Average days on market: 95 (99) 126 134 149 (159) (129) N/A
Median list price: $849,900 ($882,000) $775,000 $775,000 $649,000 ($649,500) ($589,000) N/A
Average list price: $1,381,655 ($1,379,876) $1,176,118 1,176,264 $1,040,148 ($1,069,226) ($1,010,028) N/A

Number of units sold (past 30 days): 68 (64) 65 67 62 (65) (87) 51
Average days on market: 89 (76) 128 121 165 (159) (164) 164
Median close price: $697,250 ($689,750) $697,000 $675,000 $592,450 ($635,000) ($577,500) $570,000
Average close price: $1,034,729 ($945,844) $1,052,601 $991,093 $810,729 ($802,705) ($882,984) $821,253
Original list to close price: 98% (97%) 94% 93% 91% (91%) (92%) 92%
Sales velocity: $70,361,600 ($60,534,015) $68,419,088 66,403,260 $50,265,177 ($52,175,810) ($84,766,489) $41,883,917

Thoughts: Having seen first hand the difficulty buyers are having in finding quality properties (before anyone else takes them), I fear the worst for the coming spring market.

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.