Boston condo sales volume and prices dropped in December 2014 compared to a year earlier, but only because last year’s sales included closings at the luxury Millennium Place condo project.
The Warren Group released condo and single-family sales data, earlier today. In Boston Proper, the median sales price dropped 25% while sales volume was 17% lower. For the year as a whole, prices were up 9 percent.
Dorchester sales volume was up 19% this year, compared to last. East Boston condo prices were up more than 30%, while Jamaica Plain’s market was relatively flat. South Boston had just the same number of condo sales in 2014 as in 2013, although the median price was up 9.33 percent.
Condominium sales statewide decreased almost 8.0 percent in December, marking the fifth time sales decreased year-over-year in 2014. A total of 1,587 condos sold, down from 1,718 in December 2013. For the full year condo sales were up slightly by 0.7 percent, rising to 20,614 from 20,468 during 2013. Condo sales fell by 6.6 percent in the fourth quarter, falling to 4,749 condos sold compared with 5,084 in the fourth quarter last year.
The median condo price rose 2.1 percent in December to $309,000, up from $302,593 a year earlier. The full year median price of condos in the Bay State was $310,000, up 4.0 percent from $298,000 a year ago. Fourth quarter condo prices fell 2.1 percent to $295,000 compared with $301,300 during the same timeframe last year.