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.

BostonDwells.com – my new Boston condos and real estate website

Hi.

Please check out my new Boston condos and real estate website, BostonDwells.com.

This will have all the content you’re used to seeing from me – news and information about all of the new condo and apartment complexes going up in the city, plus updates on what’s going on with Boston politics and business, all presented with the pithy attitude you’re looking for.

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.

Boston condos and real estate sales report for week ending February 1, 2015

The following is Boston Proper condo and real estate sales data for the month ending February 1 2015, 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: 174 178 265 (265) 479 (477) 606 (600) (817) (N/A)
Average days on market: 103 97 112 (109) 150 (153) 163 (167) (157) (N/A)
Median list price: $1,699,000 $1,222,500 $895,000 ($899,900) $795,000 ($785,000) $675,000 ($674,500) ($615,000) (N/A)
Average list price: $2,107,671 $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: 88

Number of units sold (past 30 days): 77 86 75 (98) 82 (87) 69 (71) (91) (60)
Average days on market: 54 61 85 (77) 115 (125) 130 (126) (154) (118)
Median close price: $790,000 $704,750 $755,000 ($648,500) $588,250 ($563,000) $727,000 ($720,000) ($550,000) ($400,000)
Average close price: $1,186,340 $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% 98% 97% (97%) 94% (94%) 92% (90%) (93%) (93%)
Sales velocity: $91,348,180 $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: Very quiet out there.

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.

What it costs to rent in Boston right now

How much does it cost to rent an apartment in Boston these days? Here’s are some of the apartments currently listed for rent in Boston Proper. These are all in large apartment complexes, so you’ll see different prices if you are looking for a rental in a typical 5-story Victorian walk-up. Probably less, but in those buildings you don’t get air conditioning or electricity up to code, and no amenities.

Several of these are in condo buildings where individual owners are renting them out.

The Fenway
1282 Boylston Street 3rd floor, 1-bed, 650-square feet, $3,050
1282 Boylston Street 10th floor, 2-bed, 1,091-square feet, $4,500

Midtown
580 Washington Street 2nd floor, 2-bed, 1,1400-square feet, $5,600
110 Stuart Street 20th floor, 2-bed, 1,872-square feet, $9,500
110 Stuart Street 21st floor, 1-bed, 1,035-square feet, $4,600
1 Charles Street South 12th floor, 2-bed, 1,179-square feet, $5,800
136 Boylston Street 2nd floor, 3-bed, 1,700-square feet, $4,950

Fort Point Channel
315 A Street 9th floor, 2-bed, 1,107-square feet, $4,109
25 Channel Street PH, 3-bed, 2,220-square feet, $7,000
346 Congress Street 4th floor, 2-bed, 681-square feet, $3,400

South End
40 Fay Street 3rd floor, 2-bed, 889-square feet, $3,950
10 St George 1st floor, 1-bed, 944-square feet, $3,695 (plenty of others avail. in same bldg, 2-bed, $4,650)
1200 Washington Street 3rd floor, 1-ed, 1,100-square feet, $3,150
505 Tremont Street 2nd floor, 1-bed, 1,692-square feet, $7,500
15 Waltham Street 3rd floor, 1 bed, 710-square feet, $2,850
70-72 Northampton Street 4th floor, 1-bed, 1,018-square feet, $3,500

South Boston
154 2nd Street 3rd floor, 2-bed, 1,614-square feet, $3,850

Drops in Boston condo sales prices and volume obscure market’s strength

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.

Boston condos and real estate sales report for week ending January 25, 2015

The following is Boston Proper condo and real estate sales data for the month ending January 25 2015 January 26 2014, January 27 2013, (January 20 2013), (January 29 2012), (January 22 2012), (January 30 2011), (January 30 2010), and (January 30 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 180 182 265 (246) 477 (455) (600) (817) (N/A)
Average days on market: 100 102 109 (116) 153 (155) (167) (157) (N/A)
Median list price: $1,685,000 $1,260,000 $899,900 ($899,900) $785,000 ($785,000) ($674,500) ($635,000) (N/A)
Average list price: $2,062,270 $1,979,738 $1,436,795 ($1,460,206) $1,200,752 ($1,184,587) ($1,110,902) ($1,076,424) (N/A)

Number of units currently under agreement: 82

Number of units sold (past 30 days): 77 96 98 (106) 87 (116) (71) (91) (65)
Average days on market: 47 61 77 (72) 125 (141) (126) (154) (119)
Median close price: $649,000 $740,630 $648,500 ($636,500) $563,000 ($578,500) ($720,000) ($550,000) ($425,000)
Average close price: $1,120,962 $1,166,321 $1,040,393 ($1,056,307) $765,772 ($749,384) ($985,524) ($768,759) ($664,689)
Original list to close price: 98% 98% 97% (96%) 94% (93%) (90%) (93%) (92%)
Sales velocity: $86,314,088 $111,966,861 $101,958,545 ($111,968,530) $66,622,150 ($86,928,554) ($69,972,184) ($74,015,290) ($43,204,787)

Thoughts: The market is strong, but could be stronger if we had more inventory. (Don’t forget, last year’s jump in median price was due to the closings at Millennium Place.)

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.