Boston condo sales volume down, prices up in October 2014

October 2014 condo sales volume was down 15.82%, when compared to the month a year earlier, according to data released by the Warren Group. For the Boston Proper neighborhoods, there were 133 condo sales in October 2014 compared to 158 condo sales in October 2013.

Prices, meanwhile, rose by 2.38%. The median price last year was $683,750, rising to $700,000, this year. Prices are up by 14.43%, year to date.

The slowdown in sales and increase in prices were no doubt the result of very low inventory in the downtown Boston neighborhoods.

September 2014 condo sales volume drops slightly; prices jump >20%

September 2014 sales volume was down nominally, when compared to the month a year earlier, according to data released by the Warren Group.

For the Boston Proper neighborhoods, there were 146 condo sales in September compared to 144 condo sales last year; year to date, sales are down 3.86%.

Prices, meanwhile, jumped by more than 22%. The median price last year was $598,250 while this year it rose to $733,500. Prices are up by 17.60, year to date.

The slowdown in sales and increase in prices were no doubt the result of very low inventory in the downtown Boston neighborhoods.

Boston condos and real estate sales report for week ending October 12, 2014

The following is Boston Proper condo and real estate sales data for the month ending October 12 2014, October 14 2013, October 14 2012, (October 7 2012), (October 16 2011), (October 16 2010), and (October 16 2009), where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 241 275 370 (353) (703) (876) (N/A)
Average days on market: 85 77 115 (117) (137) (142) (N/A)
Median list price: $995,000 $1,195,000 $849,000 ($860,000) ($689,000) ($669,000) (N/A)
Average list price: $1,589,010 $1,622,274 $1,303,885 ($1,335,342) ($1,080,072) ($1,082,744) (N/A)

Number of units under currently agreement: 124 146 122 (125) (N/A) (104) (-)

Number of units sold (past 30 days): 96 120 118 (124) (95) (103) (116)
Average days on market: 47 59 79 (75) (104) (105) (113)
Median close price: $815,000 $738,500 $614,883 ($630,000) ($600,000) ($535,000) ($532,500)
Average close price: $1,191,088 $1,054,068, $779,185 ($807,160) ($791,293) ($814,086) ($704,067)
Original list to close price: 99% 98% 95% (95%) (95%) (94%) (94%)
Sales velocity: $114,344,412 $126,488,131 $91,943,850 ($100,087,890) ($75,172,857) ($83,850,854) ($81,671,802)

Thoughts: Rather dull and uneventful market out there. Fewer closings due to low inventory. What are you seeing?

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.

Above, 250 Boylston Street Unit 7, The Jardin, Back Bay, Boston, Massachusetts, which recently sold for $9.2 million. Tracy Campion of Campion & Company Fine Homes Real Estate represented both buyer and seller.

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

Boston condos and real estate sales report for week ending September 21, 2014

The following is Boston Proper condo and real estate sales data for the month ending September 21 2014, September 23 2013, September 23 2012, (September 16 2012), (September 25 2011), (September 25 2010), and (September 25 2009), where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 251 335 368 (365) (705) (890) (N/A)
Average days on market: 80 67 117 (118) (140) (147) (N/A)
Median list price: $949,000 $850,000 $849,500 ($849,000) ($695,000) ($684,000) (N/A)
Average list price: $1,512,280 $1,340,232 $1,289,399 ($1,293,928) ($1,061,075) ($1,094,562) (N/A)

Number of units under currently agreement: 114 108 118 (92) (-) (-) (-)

Number of units sold (past 30 days): 157 195 176 (200) (194) (134) (161)
Average days on market: 45 44 62 (67) (103) (111) (100)
Median close price: $719,000 $600,000 $537,500 ($585,000) ($540,000) ($543,750) ($515,000)
Average close price: $943,803 $852,967 $771,657 ($770,431) ($711,193) ($836,490) ($705,581)
Original list to close price: 99% 99% 96% (96%) (94%) (94%) (93%)
Sales velocity: $148,177,021 $166,328,512 $135,811,703 ($154,365,789) ($133,284,483) ($112,089,674) ($113,598,555)

Thoughts: Number of listings at historic lows. This has led to a lower number of under agreements and closings – if there’s nothing to choose from, you’re not going to buy.

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.

Above, 20 Rowes Wharf #310, Waterfront, Boston, Massachusetts, which recently sold for $3,100,000. Carmela Laurella of CL Waterfront Properties represented the seller. Tracy Campion of Campion & Company Fine Homes Real Estate represented the buyer.

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

Boston condos and real estate sales report for week ending September 14, 2014

The following is Boston Proper condo and real estate sales data for the month ending September 14 2014, September 16 2013, September 16 2012, (September 9 2012), (September 18 2011), (September 18 2010), and (September 18 2009), where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 238 325 365 (371) (697) (841) (N/A)
Average days on market: 80 70 118 (121) (134) (153) (N/A)
Median list price: $899,250 $875,000 $849,000 ($849,000) ($695,000) ($654,000) (N/A)
Average list price: $1,466,889 $1,387,736 $1,293,928 ($1,305,230) ($1,077,764) ($1,087,021) (N/A)

Number of units under currently agreement: 108 90 103 (92) (-) (-) (-)

Number of units sold (past 30 days): 170 191 200 (218) (194) (165) (181)
Average days on market: 49 50 67 (73) (104) (111) (96)
Median close price: $703,500 $600,000 $545,500 ($555,175) ($540,000) ($570,000) ($534,000)
Average close price: $920,596 $857,213 $771,829 ($858,289) ($711,193) ($752,501) ($693,687)
Original list to close price: 99% 99% 96% (96%) (94%) (93%) (93%)
Sales velocity: $156,501,404 $163,727,689 $154,365,789 ($187,107,044) ($137,971,426) ($124,162,644) ($125,593,480)

Thoughts: Although the number of listings has gone up a bit during the past week, we are still at historic lows. Owners just don’t seem to want to sell their homes these days.

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.

Above, 183 Commonwealth Ave #D, Back Bay, Boston, Massachusetts, which recently sold for $3,100,000. Craig Lake of Luxury Residential Group was the listing agent. Maureen O’Hara of Coldwell Banker represented the buyer.

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

Beacon Hill Condo for Sale – 36 Myrtle Street #8, $574,000

36 Myrtle Street - for sale

I have a new listing.

This is a two-bedroom, one-bathroom home with approximately 668-square feet of space, located on the top of Beacon Hill. With four-sided exposure, it receives a lot of light and is quite airy. The bedrooms are each large enough for queen-sized beds. The kitchen has an island, plenty of cupboard space and is large enough for a kitchen table. There is a dishwasher and disposal. There is a gas stove and oven. Hardwood floors throughout.

There is shared laundry in the basement and a private storage bin (approximately 5′ high, 4.5′ deep, and 4′ wide). The Myrtle Street Playground is next door. Parking in the area available by permit. A short-walk to the Whole Foods on Cambridge Street and to the Red Line at Charles Street and the Red and Green lines at Park Street.

36 Myrtle Street, #8 Listing Sheet

Boston condos and real estate sales report for week ending September 7, 2014

The following is Boston Proper condo and real estate sales data for the month ending September 7, 2014, September 9 2013, September 9 2012, (September 2 2012), (September 9 2011), (September 11 2010), and (September 11 2009), where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 218 301 371 (352) (N/A) (857) (N/A)
Average days on market: 93 73 121 (125) (N/A) (145) (N/A)
Median list price: $949,000 $850,000 $849,000 ($877,000) (N/A) ($655,000) (N/A)
Average list price: $1,610,971 $1,390,955 $1,305,230 ($1,318,616) (N/A) ($1,062,720) (N/A)

Number of units under currently agreement: 102 90 92 (91) (-) (74) (-)

Number of units sold (past 30 days): 157 201 218 (183) (221) (169) (200)
Average days on market: 47 49 73 (73) (98) (106) (90)
Median close price: $719,000 $600,000 $555,175 ($590,000) ($535,000) ($555,000) ($536,500)
Average close price: $956,602 $834,612 $858,289 ($869,684) ($697,298) ($751,336) ($693,310)
Original list to close price: 99% 99% 96% (96%) (95%) (94%) (94%)
Sales velocity: $150,186,591 $167,757,106 $187,107,044 ($159,152,244) ($154,102,772) ($126,975,766) ($138,661,905)

Thoughts: The Labor Day holiday was “early” this year – and it appears it had an effect on sales activity. Hardly any new listings, reflected in the low number on the market as well as the lengthy “days on market” number. Presumably, things will pick up.

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.