Boston condos and real estate sales report for week ending March 29, 2015

The following is Boston Proper condo and real estate sales data for the month ending March 29 2015 March 30 2014 March 31 2013 (March 24 2013) April 1 2012 April 3 2011 April 3 2010 and April 3 2009 where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 214 206 314 (329) 610 860 1,157 (N/A)
Average days on market: 72 83 81 (79) 111 129 116 (N/A)
Median list price: $1,507,000 $1,150,000 $859,000 ($879,000) $699,000 $619,000 $594,900 (N/A)
Average list price: $2,032,610 $1,790,356 $1,345,382 ($1,324,700) $1,108,708 $966,368 $975,069 (N/A)

Number of units under agreement: 140 149

Number of units sold (past 30 days): 73 109 115 (90) 100 97 123 93
Average days on market: 69 59 47 (56) 137 123 132 133
Median close price: $713,000 $750,000 $620,000 ($593,250) $665,000 $602,500 $530,000 $487,000
Average close price: $1,013,440 $1,065,483 $899,354 ($973,883) $845,405 $850,157 $779,046 $684,899
Original list to close price: 97% 99% 99% (98%) 94% 94% 93% 93%
Sales velocity: $73,981,141 $116,137,626 $103,425,680 ($87,649,500) $84,540,480 $82,465,268 $95,822,697 $63,695,610

Thoughts: We’re still seeing the effects of last year’s closings at Millennium Place, which increased the number of closings and the median and average sales prices. The other thing throwing off the numbers is the low level of inventory of properties in the sub-$800,000 market. Very few condos for sale makes the median and average list prices look higher.

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, 112 West Concord Street #3, South End, Boston, Massachusetts, which recently sold for $2,075,000. Jamie Curtis of Sprogis & Neale Real Estate represented the seller and Keith Shirley and Valerie Post of Meridian Realty Group 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 March 22, 2015

The following is Boston Proper condo and real estate sales data for the month ending March 22 2015 March 23 2014 March 24 2013 (March 17 2013) March 25 2012 March 27 2011 March 27 2010 and March 27 2009 where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 212 201 329 (317) 598 805 1,163 (N/A)
Average days on market: 71 85 79 (85) 117 134 118 (N/A)
Median list price: $1,507,000 $1,200,000 $879,000 ($879,000) $727,000 $625,000 $599,000 (N/A)
Average list price: $1,999,742 $1,788,264 $1,324,700 ($1,338,372) $1,130,511 $984,279 $983,437 (N/A)

Number of units under agreement: 123 135
Average days on market: 45 37

Number of units sold (past 30 days): 77 94 90 (83) 98 70 115 64
Average days on market: 68 59 56 (57) 154 153 151 146
Median close price: $757,000 $725,000 $593,250 ($625,000) $682,500 $593,250 $540,000 $478,000
Average close price: $1,013,145 $1,017,085 $973,883 ($998,958) $839,892 $845,580 $817,541 $657,635
Original list to close price: 96% 99% 98% (98%) 93% 93% 93% 93%
Sales velocity: $78,012,150 $95,606,000 $87,649,500 ($82,913,500) $82,309,388 $59,190,577 $94,017,219 $42,088,610

Thoughts: There seems to be a bit of wiggle room right now in pricing, with closings at 96% of original asking price. I think this might not mean anything or, if it does, it’s specific to the high-end of the market, where million-dollar properties tend to go for less than full-asking (and, where there’s ample supply right now).

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, 49 Hancock Street #7, Beacon Hill, Boston, Massachusetts, which recently sold for $805,000. Jeannemarie Conley of Otis & Ahearn 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 March 15, 2015

The following is Boston Proper condo and real estate sales data for the month ending March 15 2015 March 17 2014 March 17 2013 (March 10 2013) March 18 2012 March 20 2011 and March 20 2010 where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 193 205 317 (308) 581 805 1,103
Average days on market: 74 83 85 (91) 121 134 122
Median list price: $1,699,000 $1,199,000 $879,000 ($829,000) $749,000 $625,000 $599,000
Average list price: : $2,176,828 1,731,670 $1,338,372 ($1,331,651) $1,140,628 $984,279 $990,019

Number of units under agreement: 115 138

Number of units sold (past 30 days): 70 81 83 (80) 90 70 107
Average days on market: 71 56 57 (78) 148 153 151
Median close price: $745,800 $794,000 $625,000 ($646,000) $700,000 $593,250 $565,000
Average close price: $1,022,141 $1,121,530 $998,958 ($1,024,256) $871,721 $845,580 $856,010
Original list to close price: 96% 99% 98% (98%) 94% 93% 94%
Sales velocity: $71,549,900 $90,843,913 $82,913,500 ($81,940,500) $78,454,888 $59,190,577 $91,593,092

Thoughts: A little more wiggle room when it comes to prices (96% of original asking) is good news for buyers and perhaps reflective of the high list prices or just a blip.

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, 360 Newbury Street #806, Back Bay, Boston, Massachusetts, which recently sold for $2,825,000. Allison Mazer of Gibson Sotheby’s International Realty represented the seller and Beth Dickerson of Gibson Sotheby’s International Realty 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 the week ending March 8, 2015

The following is Boston Proper condo and real estate sales data for the month ending March 8 2015 March 9 2014 March 10 2013 (March 3 2013) March 10 2012 and March 2011 where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 194 198 308 (289) N/A N/A
Average days on market: 74 88 91 (95) N/A N/A
Median list price: $,787,000 $1,199,500 $829,000 ($849,000) N/A N/A
Average list price: $2,223,867 $1,810,810 $1,331,651 ($1,381,655) N/A N/A

Number of units sold (past 30 days): 65 83 80 (68) 81 75
Average days on market: 71 64 78 (89) 135 161
Median close price: $805,000 $950,000 $646,000 ($697,250) $710,000 $590,000
Average close price: $1,053,398 $1,188,543 $1,024,256 ($1,034,729) $1,080,774 $823,376
Original list to close price: 97% 99% 98% (98%) 94% 92%
Sales velocity:$68,470,851 $98,649,037 $81,940,500 ($70,361,600) $87,542,688 $61,753,177

Thoughts: The number of units on the market remains at historic lows, especially in the sub-$1 million range. Discouraging, to be sure, for buyers. The median close price, as it’s been the past several weeks, is lower than last year because last year’s data included closings at Millennium Place, which skewed the numbers higher.

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, 1 Huntington Ave #1204, Trinity Place, Back Bay, Boston, Massachusetts, which recently sold for $2,400,000. Tracy Campion of Campion & Company Fine Homes Real Estate represented the seller. Jeannemarie Conley of Otis & Ahearn 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 March 1, 2015

The following is Boston Proper condo and real estate sales data for the month ending March 1 2015 March 2 2014 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: 180 176 289 (280) 541 520 704 (668) (990) N/A
Average days on market: 83 92 95 (99) 126 134 149 (159) (129) N/A
Median list price: $1,695,000 $1,247,000 $849,900 ($882,000) $775,000 $775,000 $649,000 ($649,500) ($589,000) N/A
Average list price: $2,164,144 $1,848,578 $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 under agreement: 100 145

Number of units sold (past 30 days): 60 69 68 (64) 65 67 62 (65) (87) 51
Average days on market: 69 70 89 (76) 128 121 165 (159) (164) 164
Median close price: $823,950 $1,050,000 $697,250 ($689,750) $697,000 $675,000 $592,450 ($635,000) ($577,500) $570,000
Average close price: $1,089,158 $1,065,601 $1,034,729 ($945,844) $1,052,601 $991,093 $810,729 ($802,705) ($882,984) $821,253
Original list to close price: 97% 99% 98% (97%) 94% 93% 91% (91%) (92%) 92%
Sales velocity: $65,349,484 $80,426,437 $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: Just like last week, the lower median close price is a result of sales last year at Millennium Place, where the typical condo sold for ~$1,000,000. There is very little inventory in the sub-$500,000; just 13 out of 180 condos (around 7%). Basically – none.

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, 270 Clarendon Street #2, Back Bay, Boston, Massachusetts, which recently sold for $3,299,000. Tracy Campion of Campion & Company Fine Homes Real Estate represented the seller and Lucas Garafalo of Keller Williams Realty Boston-Metro represented the buyer.

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

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Boston condos and real estate sales report for week ending February 22, 2015

The following is Boston Proper condo and real estate sales data for the month ending February 22 2015 February 23 2014 February 24 2013 (February 17 2013) February 26 2012 (February 19 2012) February 27 2011 (February 20 2011) (February 27 2010) and (February 27 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 176 173 280 (278) 520 (498) 668 (640) (939) (N/A)
Average days on market: 86 95 99 (103) 134 (140) 156 (159) (136) (N/A)
Median list price: $1,697,000 $1,250,000 $882,000 ($895,000) $775,000 ($799,000) $649,500 ($659,500) ($595,000) (N/A)
Average list price: $2,112,386 $1,922,482 $1,379,876 ($1,447,880) $1,176,274 ($1,184,653) $1,069,226 ($1,077,343) ($1,036,364) (N/A)

Number of units under agreement: 103 (30% fewer than last year at this time)

Number of units sold (past 30 days): 61 81 64 (66) 67 (72) 65 (63) (96) (63)
Average days on market: 65 68 76 (88) 121 (122) 159 (144) (122) (125)
Median close price: $845,000 $1,001,000 $689,750 ($675,000) $675,000 ($640,000) $635,000 ($625,000) ($577,500) ($505,000)
Average close price: $1,150,620 $1,204,269 $945,844 ($917,110) $991,093 ($1,006,934) $802,705 ($779,492) ($882,984) ($815,243)
Original list to close price: 98% 98% 97% (97%) 93% (93%) 91% (92%) (92%) (93%)
Sales velocity: $70,187,839 $97,545,787 $60,534,015 ($60,529,270) $66,403,260 ($72,499,260) $52,175,810 ($49,108,017) ($84,766,489) ($51,360,313)

Thoughts: It was just a year ago that the median list price for a condo in Boston Proper rose to over a million dollars. Now, it’s more than $1.5 million. That’s a reflection of the strength of the local market but more so that there just isn’t any inventory out there in the sub-million dollar range.

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, Downtown Crossing, and Fenway.

Above, 580 Washington Street #PH08, Millennium Place, Boston, Massachusetts, which recently sold for $4,100,000. Curran Robinette of Luxury Residential Group was the listing agent. (This was a nice return on investment for the seller, who purchased it brand new in 2013 for $3,295,000.)

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

Boston condos and real estate sales report for the week ending February 8, 2015

The following is Boston Proper condo and real estate sales data for the month ending February 9 2014, February 2 2014, February 3 2013, (January 27 2013), (February 5 2012), (January 29 2012), (February 6 2011), (January 30, 2011), (February 6 2010), and (February 6 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 178 194 178 265 (265) 479 (477) 606 (600) (817) (N/A)
Average days on market: 101 98 97 112 (109) 150 (153) 163 (167) (157) (N/A)
Median list price: $1,738,500 $1,228,900 $1,222,500 $895,000 ($899,900) $795,000 ($785,000) $675,000 ($674,500) ($615,000) (N/A)
Average list price: $2,114,714 $1,907,896 $1,929,480 $1,429,482 ($1,436,795) $1,200,067 ($1,200,752) $1,104,381 ($1,110,902) ($1,076,424) (N/A)

Number of units under agreement: 107

Number of units sold (past 30 days): 78 87 86 75 (98) 82 (87) 69 (71) (91) (60)
Average days on market: 58 65 61 85 (77) 115 (125) 130 (126) (154) (118)
Median close price: $812,500 $815,000 $704,750 $755,000 ($648,500) $588,250 ($563,000) $727,000 ($720,000) ($550,000) ($400,000)
Average close price: $1,231,487 $1,272,686 $1,132,409 $1,107,026 ($1,040,393) $777,871 ($765,772) $971,922 ($985,524) ($813,355) ($719,786)
Original list to close price: 98% 97% 98% 97% (97%) 94% (94%) 92% (90%) (93%) (93%)
Sales velocity: $96,055,988 $110,723,701 $97,387,211 $83,034,420 ($101,958,545) $63,785,460 ($66,622,150) $67,062,617 ($69,972,184) ($74,015,290) ($43,187,183)

Thoughts: The median list price has skyrocketed due to an anemic level of listings in the sub-$500,000 market – just 12 of the 178 units currently listed for sale. The >$1,000,000 market isn’t seeing a glut, just that there are more of them than the lower-priced condos for sale.

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.