Boston condos and real estate sales report for week ending August 30, 2015

The following is Boston Proper condo and real estate sales data for the month ending August 30 2015, September 2 2013, (September 2 2012), (August 26 2012), (September 2 2011), (September 2 2010), and (September 2 2009), where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 237 203 270 (352) (399) (N/A) (N/A) (N/A)
Average days on market: 92 104 84 (125) (118) (N/A) (N/A) (N/A)
Median list price: $1,399,000 $1,095,000 $867,500 ($877,000) ($825,000) (N/A) (N/A) (N/A)
Average list price: $2,023,767 $1,690,358 $1,432,295 ($1,318,616) ($1,235,215) (N/A) (N/A) (N/A)

Number of units under currently agreement: 108 98 94 (91) (125) (-) (-) (-)

Number of units sold (past 30 days): 172 171 182 (183) (194) (215) (190) (207)
Average days on market: 43 42 48 (73) (74) (98) (111) (99)
Median close price: $800,000 $740,000 $609,500 ($590,000) ($574,500) ($528,000) ($586,250) ($540,000)
Average close price: $1,167,202 $1,023,008 $830,790 ($869,684) ($833,892) ($704,286) ($795,461) ($705,778)
Original list to close price: 99% 99% 99% (96%) (96%) (94%) (93%) (94%)
Sales velocity: $200,758,718 $174,934,306 $151,203,849 ($159,152,244) ($161,774,969) ($151,421,472) ($151,137,631) ($146,096,043)

Thoughts: Welcome fall market, 2015!

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, 287 Commonwealth Ave #3, Back Bay, Boston, Massachusetts, which recently sold for $5,300,000. Tracy Campion of Campion & Company Fine Homes Real Estate represented the seller and Patricia Miller of Coldwell Banker Residential Brokerage represented the buyer.

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

Boston Proper condo sales up 45% in July; prices up, too

Boston Proper condo sales volume jumped dramatically in July 2015 when compared to a year earlier, according to data released earlier this week by The Warren Group, publisher of Banker & Tradesman. Volume was up 45.28 percent in June 2015 compared to June 2014. The median sales price increased 5.67 percent for the month. It now costs $727,000 to buy the typical condo in Boston.

The number of closings is surprising only because inventory has been so tight in downtown Boston. What it means is, there’s less supply from which to choose (inventory is down 75 percent from 2009, but buyers are settling for what they’re being offered – and willing to pay a pretty price (full-price) in order to do so.

The rest of Boston’s neighborhoods were a mixed bag when it came to sales volume and median prices, which is typical, since inventory varies more in college neighborhoods such as Allston and Brighton, and prices are usually high in middle-income and upper-income neighborhoods such as Charlestown. Dorchester’s volume and median prices vary from month to month because that neighborhood is Boston’s largest and is made up of many sub-markets, some of which are wealthier than other, which can have an affect, month to month.

Sales volume tripled in Allston this month. This was an anomaly, the result of a bunch of closings of investor units at 15 North Beacon Street. Brighton sales volume was down 17 percent, but up 23 percent in Charlestown. Dorchester sales volume was up 29 percent while the median sales price was up 12 percent.

Jamaica Plain’s median sales price was up 9.76 percent for the month while sales volume was up 43 percent. Median price paid was up this month but down last month by around five percent. The volume of sales in JP has been lower during the past several months and median price was affected because there were fewer sales in the higher-price ranges.

South Boston condo sales volume was up 21 percent. The median price was up almost 16 percent. Those are very strong numbers, reflecting the completion of several new buildings and higher-price range closings, as well as that neighborhood’s continued appeal to buyers.

For the state as a whole, the condo sales market in July was robust, seeing 2,794 sales, the most since August 2007. This month’s mark was a 20.07 percent increase from July 2014, which had 2,327 sales. July 2015 supplanted last month as the best month in the eight-year stretch. There were 2,764 sales in June.

The median condo price in July was $337,500, up 3.85 percent from July 2014, when the median was $325,000. Year to date the median condo price has is $316,685, up 0.86 percent from $314,000 at this time last year.

Year to date, there have been 12,132 condo sales through July, a 1.8 percent increase over last year’s year-to-date total of 11,917 sales, according to the Warren Group.

Boston Proper includes the South End, Back Bay, Beacon Hill, West End, North End, Waterfront, Chinatown, Midtown, Leather District, Bay Village, South End, and Fenway neighborhoods.

Boston condos and real estate sales report for week ending August 23, 2015

The following is Boston Proper condo and real estate sales data for the month ending August 23 2015, July 14 2014, July 7 2014, May 25 2014, May 18 2014, May 25 2013, May 20 2012, (May 6 2012), (May 22 2011), (May 22 2010), and (May 22 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 238 257 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 85 75 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,384,500 $999,000 $1,174,000 $1,087,000 $950,000 n/a $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $2,008,244 $1,624,669 $1,766,872 $1,618,202 $1,571,094 n/a $1,095,540 ($1,091,948) ($1,000,713) ($1,016,294) (n/a)

Number of units under agreement: 120 137 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 161 185 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 42 36 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $805,000 $696,000 $720,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $1,238,115 $924,709 $961,501 $1,147,550 $1,140,206 $863,921 $764,283 ($847,371) ($697,083) ($686,044) ($686,044)
Original list to close price: 99% 100% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: $199,336,568 $171,071,255 $174,993,205 $156,066,758 $157,348,458 $141,683,076 $120,756,756 ($131,342,560) ($108,745,020) ($121,782,515) ($74,778,801)

Thoughts: Are you thinking of buying a condo in Boston this fall? Contact me for information on how I can help you as a buyer’s agent. You don’t want to go it alone in this HOT 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.

Above, 409 Commonwealth Ave #B, The Bradley Mansion, Back Bay, Boston, Massachusetts, which recently sold for $5,887,500. Michael Harper of Coldwell Banker Residential Brokerage represented the seller … and 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 August 16, 2015

The following is Boston Proper condo and real estate sales data for the month ending August 16 2015, August 9 2015, August 2 2015, July 26 2015, July 19 2015, July 14 2014, July 7 2014, May 25 2014, May 18 2014, May 25 2013, May 20 2012, (May 6 2012), (May 22 2011), (May 22 2010), and (May 22 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 254 251 259 275 280 257 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 80 79 78 75 72 75 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,273,000 $1,375,000 $1,349,000 $1,290,000 $1,225,000 $999,000 $1,174,000 $1,087,000 $950,000 n/a $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $1,902,959 $1,957,533 $1,926,797 $1,834,194 $1,805,048 $1,624,669 $1,766,872 $1,618,202 $1,571,094 n/a $1,095,540 ($1,091,948) ($1,000,713) ($1,016,294) (n/a)

Number of units under agreement: 115 131 117 127 138 137 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 153 153 142 189 200 185 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 42 40 40 40 38 36 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $779,000 $774,000 $755,000 $755,000 $767,750 $696,000 $720,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $176,566,627 $1,154,030 $1,101,305 $1,059,634 $1,038,615 $1,053,450 $924,709 $961,501 $1,147,550 $1,140,206 $863,921 $764,283 ($847,371) ($697,083) ($686,044) ($686,044)
Original list to close price: 99% 99% 100% 100% 100% 100% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: $168,499,676 $150,467,958 $196,298,224 $210,690,075 $171,071,255 $174,993,205 $156,066,758 $157,348,458 $141,683,076 $120,756,756 ($131,342,560) ($108,745,020) ($121,782,515) ($74,778,801)

Thoughts: Crazy how low the inventory is 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, 51 Commonwealth Ave #B, Back Bay, Boston, Massachusetts, which recently sold for $5,450,000. Lili Banani of Coldwell Banker Residential Brokerage was the listing agent and William Montero of Gibson Sotheby’s International Realty was the buyer’s agent.

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 August 9, 2015

The following is Boston Proper condo and real estate sales data for the month ending August 9 2015, August 2 2015, July 26 2015, July 19 2015, July 14 2014, July 7 2014, May 25 2014, May 18 2014, May 25 2013, May 20 2012, (May 6 2012), (May 22 2011), (May 22 2010), and (May 22 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 251 259 275 280 257 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 79 78 75 72 75 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,375,000 $1,349,000 $1,290,000 $1,225,000 $999,000 $1,174,000 $1,087,000 $950,000 n/a $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $1,957,533 $1,926,797 $1,834,194 $1,805,048 $1,624,669 $1,766,872 $1,618,202 $1,571,094 n/a $1,095,540 ($1,091,948) ($1,000,713) ($1,016,294) (n/a)

Number of units under agreement: 131 117 127 138 137 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 153 142 189 200 185 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 40 40 40 38 36 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $774,000 $755,000 $755,000 $767,750 $696,000 $720,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $1,101,305 $1,059,634 $1,038,615 $1,053,450 $924,709 $961,501 $1,147,550 $1,140,206 $863,921 $764,283 ($847,371) ($697,083) ($686,044) ($686,044)
Original list to close price: 99% 100% 100% 100% 100% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: $168,499,676 $150,467,958 $196,298,224 $210,690,075 $171,071,255 $174,993,205 $156,066,758 $157,348,458 $141,683,076 $120,756,756 ($131,342,560) ($108,745,020) ($121,782,515) ($74,778,801)

Thoughts: Crazy how low the inventory is 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, 175 Commonwealth Avenue #E, Back Bay, Boston, Massachusetts, which recently sold for $4,000,000. Tracy Campion of Campion & Company Fine Homes Real Estate was the listing agent and Deborah Heffernan of Avenue 3 Real Estate was the buyer’s agent.

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

Boston condos and real estates sales report for week ending August 2, 2015

The following is Boston Proper condo and real estate sales data for the month ending August 2 2015, July 26 2015, July 19 2015, July 14 2014, July 7 2014, May 25 2014, May 18 2014, May 25 2013, May 20 2012, (May 6 2012), (May 22 2011), (May 22 2010), and (May 22 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 259 275 280 257 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 78 75 72 75 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,349,000 $1,290,000 $1,225,000 $999,000 $1,174,000 $1,087,000 $950,000 n/a $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $1,926,797 $1,834,194 $1,805,048 $1,624,669 $1,766,872 $1,618,202 $1,571,094 n/a $1,095,540 ($1,091,948) ($1,000,713) ($1,016,294) (n/a)

Number of units under agreement: 117 127 138 137 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 142 189 200 185 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 40 40 38 36 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $755,000 $755,000 $767,750 $696,000 $720,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $1,059,634 $1,038,615 $1,053,450 $924,709 $961,501 $1,147,550 $1,140,206 $863,921 $764,283 ($847,371) ($697,083) ($686,044) ($686,044)
Original list to close price: 100% 100% 100% 100% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: : $150,467,958 $196,298,224 $210,690,075 $171,071,255 $174,993,205 $156,066,758 $157,348,458 $141,683,076 $120,756,756 ($131,342,560) ($108,745,020) ($121,782,515) ($74,778,801)

Thoughts: Things slow down a bit during the summer.

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, 6 Newbury Street #501/502, Back Bay, Boston, Massachusetts. Tracy Campion of Campion & Company Fine Homes Real Estate was the listing agent and Maggie Gold Selig of MGS Group was the buyer’s agent.

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

Boston condo sales volume up ~17% in June; prices flat

Boston Proper condo sales volume jumped substantially in June 2015 when compared to a year earlier, according to data released earlier today by The Warren Group, publisher of Banker & Tradesman. Volume was up 16.83 percent in June 2015 compared to June 2014. The median sales price was about the same for the month, down 1.9 percent. It now costs $710,000 to buy the typical condo in Boston.

The real estate market in the downtown Boston neighborhoods has always been strong, even during the recession of the late ’00s. Prices are at all-time highs right now, driven by demand and – even more so – by a lack of supply. Inventory levels are a quarter of what they were in 2009-2010, across most of the market spectrum. Only in the +$1-million range is there an adequate supply.

This explains why the median sales price has risen. Sales volume has been stagnant, however. Even though the number of closings rose in June, for the year-to-date, sales volume is down 8.94 percent, according to The Warren Group.

Other Boston neighborhoods were a mixed bag, the result of limited supply and steady demand.

Sales volume was up 300 percent in Allston for the month. This was an anomaly, the result of a bunch of closings of investor units at 15 North Beacon Street. Brighton sales volume was up 13 percent in Brighton, and ten percent in Charlestown. Dorchester sales volume was flat for the month although the median sales price was up more than 26 percent. This shows that the recovery in the real estate market is occurring in all of Boston’s neighborhoods.

Jamaica Plain’s median sales price was up 7.35 percent for the month while sales volume was off around 5 percent. Demand in JP is outstripping supply but instead of people “over-paying”, it seems they are instead sitting out the market or buying elsewhere.

South Boston condo sales volume was up just under 5 percent. The median price was up more than 21 percent. This, no doubt, is the result of new buildings being completed and units closing for the first time.

For the state as a whole, condominium sales rose in June with a total of 2,794 transactions completed compared with 2,429 in June 2014, a 15.0 percent increase. June marked the best month for condo sales since August 2007 and the first time in seven consecutive months that condo sales have increased on a year-over-year basis.

Year-to-date sales of condos are down by 0.7 percent with 9,526 sales completed during the first six months of this year compared with 9,590 recorded during the same period last year.

Condo prices climbed 2.3 percent in June, posting a median selling price of $332,500 compared with $325,000 in June 2014. Year to date, the median price of a condo increased for the fourth month this year, climbing 1.6 percent to $315,000 from the $310,000 in June 2014, according to The Warren Group.

Boston condos and real estate sales report for week ending July 26, 2015

The following is Boston Proper condo and real estate sales data for the month ending July 26 2015, July 19 2015, July 14 2014, July 7 2014, May 25 2014, May 18 2014, May 25 2013, May 20 2012, (May 6 2012), (May 22 2011), (May 22 2010), and (May 22 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 275 280 257 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 75 72 75 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,290,000 $1,225,000 $999,000 $1,174,000 $1,087,000 $950,000 n/a $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $1,834,194 $1,805,048 $1,624,669 $1,766,872 $1,618,202 $1,571,094 n/a $1,095,540 ($1,091,948) ($1,000,713) ($1,016,294) (n/a)

Number of units under agreement: 127 138 137 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 189 200 185 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 40 38 36 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $755,000 $767,750 $696,000 $720,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $1,038,615 $1,053,450 $924,709 $961,501 $1,147,550 $1,140,206 $863,921 $764,283 ($847,371) ($697,083) ($686,044) ($686,044)
Original list to close price: 100% 100% 100% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: : $196,298,224 $210,690,075 $171,071,255 $174,993,205 $156,066,758 $157,348,458 $141,683,076 $120,756,756 ($131,342,560) ($108,745,020) ($121,782,515) ($74,778,801)

Thoughts: Things slow down a bit during the summer.

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, 447 Beacon Street #2, Back Bay, Boston, Massachusetts. Abbe Bonnevie was the listing agent and Lisa Merriman Barth of Barth Real Estate was the buyer’s agent.

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