Boston condos and real estate sales report for week ending May 24, 2015

The following is Boston Proper condo and real estate sales data for the week ending May 24 2015, 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: 257 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 65 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,390,000 $1,087,000 $950,000 n/a $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $2,024,092 $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: 225 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 116 136 138 164 158 (155) (156) (145) (109)
Average days on market: 40 46 40 53 105 (107) (90) (105) (90)
Median close price: $795,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $1,016,752 $1,147,550 $1,140,206 $863,921 $764,283 ($847,371) ($697,083) ($686,044) ($686,044)
Original list to close price: 100% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: $117,943,250 $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: It’s Memorial Day, which is traditionally the end of the spring real estate market. It looks as though we had a very strong season with lots of sales activity. The lack of supply was a big problem. Buyers had little from which to choose, so sellers controlled the prices, once again.

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, 343 Marlborough Street #2, Back Bay, Boston, Massachusetts, which recently sold for $4,250,000. Roberta Orlandino of Coldwell Banker Residential Brokerage represented the seller and Andrew Sobel of Warren Residential Group represented the buyer.

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

Search for your new Boston condo or single-family home, right now

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Want to start looking for your new home right now?

Click here to access our local Multiple Listing Service. You can search all the current listings on the market – condos, single-family homes, even multi-family homes and rentals.

You can search without setting up an account or offering any personal information. If you like, you can save your searches and also receive once-daily emails of new listings as they hit the market – no obligation.

Please contact me with any questions or concerns. I would be happy to help you in any way.

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Selling your home in Boston

Selling your home can be an opportunity to move on to a new phase in your life. It can also be a very stressful time.

The right real estate agent is the key difference. While your focus may be only on the sales price of your single-family or condominium home, your agent is thinking about that, and more. I want you to get the most money possible on your sale, but I also want the entire sales process to go smoothly, from coming up with a list price, through all the showings of the property to potential buyers, to negotiating an offer, through the home inspection and other contingencies, and then on to closing.

I keep track of everything – who has come in to see the property, which agents have expressed interest, who showed up at the open houses. I coordinate the sales transaction with the other real estate agent, with you, the two clients’ attorneys, the bank/closing attorney, the home inspector, and the lenders.

In order to get the most money for the sale of your home, you need to do certain things – you need to get your home “ready” for sale, by doing routine maintenance and making your home look as appealing as possible. But, not all repairs are worth doing – many times you’ll not want to redo your kitchen or bath, since home-buyers often want to do this themselves, to their own tastes. There are other tips such as these that I, as your agent, can offer.

I have helped so many people list and sell their homes. The most important thing when listing a home is the price – obviously. But, what price is the “good” price. It’s an art as much as a science. We will look at comparable sales during the recent past in your neighborhood. Of course, each home is unique, so what your home will sell for is different from just about every other home out there. That’s where a knowledgeable and experienced agent comes in handy. Only with this background can an agent give an accurate estimate of the value of your home. Only an agent who has worked with buyers and sellers in your neighborhood knows what he needs to know in order to list and successfully sell your home.

Many homes in the downtown Boston neighborhoods sell within a relatively short period of time, from 90-120 days. The successful sales are a result of correctly pricing the homes.

Online and print advertising can help, as can open houses, but the vast majority of homes sell because they were priced right for what they offered – prices based on where the homes were located, their size, number of bedrooms and baths, locations in their buildings, condo association amenities, and neighborhoods.

Many of these things can’t be changed, of course. That’s why it’s important to differentiate your home in other ways – how it’s staged for sale, how “fresh” it looks inside, and, what the price is.

I can give you a lot of information and advice. I’ve been a real estate agent for ten years, I know what it takes to sell your home.

Boston neighborhoods

Boston is a city of neighborhoods. Here are short descriptions of each of them. The best way to know which one you might like best? Easy – check them out in person!

Allston

Allston and Brighton are two separate and distinct neighborhoods of Boston, even though many times people call it “Allston-Brighton”.

Located in the northwest corner of Boston, Allston is convenient to colleges and universities including Boston College, Boston University, and Harvard University. The neighborhood is very popular with student renters, although plenty of professionals and long-term residents live there, too.

Commercial activity tends to occur on Commonwealth, Brighton, and Harvard avenues, and there are plenty of bars, clubs, and ethnic restaurants in this “hip” neighborhood.

There is plenty to do in Allston, and just not at night. Residents have easy access to the Charles River where they jog, rollerblade, and sail in the summertime. It’s an easy walk to Harvard Square, too.

Allston is well-served by public transportation including the Green Line trolley and the 57 and 66 buses. Storrow Drive and the Massachusetts Turnpike run right through parts of Allston with easy access to points west of the city, and east to downtown Boston and Logan Airport.

Housing is plentiful in Allston and available in every price range, although some of the apartments  are in rough shape and to be avoided. One-bedroom apartments can be found for under $1,500 and two-bedroom apartments from $1,800 and up.

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Buying a home in Boston

Buying a new home can be one of the most exciting events in your life. It can also be one of the most stressful.

I can make the process easy on you. Because of my years of experience as a residential real estate broker, I have the knowledge necessary to find you a new home with the best value.

I have helped buyers of single-family homes and condominiums in most of Boston’s neighborhoods including the South End, Back Bay, Beacon Hill, Fenway, Waterfront, South Boston, East Boston, Dorchester and Roxbury as well as in other cities and towns, including Lynn.

My goal is simple: to help. I will meet with you to discuss your home search – what you’re looking for, where you want to live, how much you want to spend. What are your “must-haves” and “nice to haves”?

I’ll give you an idea of what properties are available fitting most or all of your criteria. We’ll talk about the entire home buying process – the searching, the finding, the negotiating, the financing, and the moving. I can give recommendations for home inspectors and lawyers.

After we’ve talked and decided to work together, we can start the fun part – going to see properties. I have access to all the listings through our multiple listing service. I know about most of these properties since I’ve seen them at open houses and with other clients. We will see whatever homes you want to see, plus homes I have picked out that fit your criteria, that I know you’ll like.

My goal: Educate you on the current real estate market – what’s available, where, and for how much.

Once we’ve seen many of the homes that fit your criteria, we can start narrowing down the choices. Which homes are you most interested in? Which home seems to have the best “value”? What are the things that bother you about each of them? What do you love?

When you’re ready to move forward, we will discuss pricing. Only you can decide how much you are willing to pay for a new home. There’s no pressure from me. I will show you what other, similar properties are selling for; is the home you like better than these? Does it compare? Based on this, you will come up with a price you want to pay. Then, we’ll discuss strategy and negotiation tactics. What to offer on the property.

I will negotiate the deal on your behalf, speaking with the owner’s real estate agent, emphasizing the quality of your offer – and why the seller should accept it.

Once the offer is accepted, I will help you by giving recommendations for a lawyer and home inspector – if you want. The best advice here is for you to find them on your own, through the recommendations of friends and family.

We then have the lawyers write up the purchase & sale contract, which outlines everything in greater detail than the initial offer and taking into account anything we found in the home inspection. Maybe the seller needs to do some work in order for you to go forward?

Once we get to closing date, you will have already spoken to your lender numerous times. On closing date, you, your lawyer, and I show up, along with the seller and his/her attorney and real estate agent and the bank’s attorney. Papers are signed, you get your keys.

And, that’s it!

I would be happy to talk with you about ways I can help you with the search for a new home. The best part of my job is finding clients the “perfect” home.

I am here to help.

Boston real estate and condo sales report for week ending May 3, 2015

The following is Boston Proper condo and real estate sales data for the week ending May 3 2015 May 4 2014, May 4 2013 May 6 2012, (April 29 2012), (May 8 2011), (May 8 2010), and (May 8 2009) where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 267 256 (n/a) 637 (637) (966) (1,101) (n/a)
Average days on market: 59 27 (n/a) 96 (98) (124) (115) (n/a)
Median list price: $1,325,000 $699,000 (n/a) $749,000 ($749,000) ($627,000) ($629,000) (n/a)
Average list price: $1,930,476 $930,135 (n/a) $1,091,948 ($1,092,945) ($973,213) ($1,032,406) (n/a)

Number of units under agreement: 192 181 (n/a) 190 (212) (149) (190) (n/a)

Number of units sold (past 30 days): 89 138 147 155 (154) (139) (134) (95)
Average days on market: 78 30 54 107 (109) (105) (100) (97)
Median close price: $845,000 $645,000 $685,000 $605,000 ($574,750) ($610,000) ($551,000) ($510,000)
Average close price: $1,211,444 $1,122,749 $965,296 $847,371 ($804,376) ($786,097) ($990,738) ($777,258)
Original list to close price: 98% 100% 99% 96% (95%) (94%) (95%) (95%)
Sales velocity: $122,211,444 $154,939,$141,898,506 327 $131,342,560 ($123,873,904) ($109,267,530) ($120,698,875) ($73,839,501)

Thoughts: Fewer condos being sold, the result of the tight market in the lower price ranges. Discouraging for buyers.

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, Bay Village, and Fenway.

Above, 110 Stuart Street #26G (W Residences), Midtown, Boston, Massachusetts, which recently sold for $2,260,000. Dale Murawski of Otis & Ahearn represented the seller and Curran Robinette of Luxury Residential 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 April 26, 2015

The following is Boston Proper condo and real estate sales data for the month ending April 26 2015 April 20 2015 April 20 2014 April 7 2013 (March 31 2013) April 8 2012 (April 1 2012) (April 10 2011) (April 10 2010) and April 10 2009 where available. (I didn’t do an analysis last year for this week so I’m using last week’s data for prior years.)

All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 255 236 208 345 (314) 583 (610) (906) (1251) (N/A)
Average days on market: 63 64 87 73 (81) 115 (111) (124) (111) (N/A)
Median list price: $1,325,000 $1,439,500 $1,224,500 $849,000 ($859,000) $749,900 ($699,000) ($627,000) ($589,000) (N/A)
Average list price: $1,881,524 $1,978,113 $1,807,158 $1,306,895 ($1,345,382) $1,133,932 ($1,108,078) ($979,141) ($970,383) (N/A)

Number of units currently under agreement: 192 176 197
Average days on market: 31 29 32

Number of units sold (past 30 days): 97 98 148 118 (115) 129 (100) (107) (114) 97
Average days on market: 82 81 50 48 (47) 134 (137) (131) (123) 127
Median close price: $799,000 $763,000 $648,250 $599,500 ($620,000) $579,000 ($665,000) ($627,600) ($520,000) $500,000
Average close price: $1,183,477 $1,152,537 $1,099,534 $903,071 ($899,354) $780,628 ($845,405) ($919,952) ($780,426) $754,373
Original list to close price: 98% 98% 101% 98% (99%) 94% (94%) (94%) (93%) 93%
Sales velocity: $114,797,250 $112,948,650 $162,731,055 $106,562,355 ($103,425,680) $100,700,980 ($84,540,480) ($98,434,831) ($88,968,578) $73,174,210

Thoughts: Inventory is about where it was last year. Really, we’re at parity. If there’s going to be more activity in this spring market, units will have to come on the market in the next 14 days or buyers are just going to give 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, Downtown Crossing, Chinatown, Leather District, Midtown, and Fenway.

Above, 409 Commonwealth Avenue, Back Bay, Boston, Massachusetts, which recently sold for $4,000,000. Michael Harper of Coldwell Banker Residential Brokerage represented the seller and Lili Banani of Coldwell Banker Residential Brokerage 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 April 20, 2015

The following is Boston Proper condo and real estate sales data for the month ending April 20 2015 April 20 2014 April 7 2013 (March 31 2013) April 8 2012 (April 1 2012) (April 10 2011) (April 10 2010) and April 10 2009 where available. All condominium closings recorded by our local MLS during the past month.

Number of units currently on the market: 236 208 345 (314) 583 (610) (906) (1251) (N/A)
Average days on market: 64 87 73 (81) 115 (111) (124) (111) (N/A)
Median list price: $1,439,500 $1,224,500 $849,000 ($859,000) $749,900 ($699,000) ($627,000) ($589,000) (N/A)
Average list price: $1,978,113 $1,807,158 $1,306,895 ($1,345,382) $1,133,932 ($1,108,078) ($979,141) ($970,383) (N/A)

Number of units currently under agreement: 176 197
Average days on market: 29 32

Number of units sold (past 30 days): 98 148 118 (115) 129 (100) (107) (114) 97
Average days on market: 81 50 48 (47) 134 (137) (131) (123) 127
Median close price: $763,000 $648,250 $599,500 ($620,000) $579,000 ($665,000) ($627,600) ($520,000) $500,000
Average close price: $1,152,537 $1,099,534 $903,071 ($899,354) $780,628 ($845,405) ($919,952) ($780,426) $754,373
Original list to close price: 98% 101% 98% (99%) 94% (94%) (94%) (93%) 93%
Sales velocity: $112,948,650 $162,731,055 $106,562,355 ($103,425,680) $100,700,980 ($84,540,480) ($98,434,831) ($88,968,578) $73,174,210

Thoughts: Lack of inventory has led to fewer properties being sold – look at this year compared to last (although last year’s was affected by sales at 580 Washington and 43 Westland).

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, Downtown Crossing, Chinatown, Leather District, Midtown, and Fenway.

Above, 145 Commonwealth Ave #1, Back Bay, Boston, Massachusetts, which recently sold for $7,050,000. Michael Harper of Coldwell Banker Residential Brokerage represented the seller and Linda Barrett of Otis & Ahearn represented the buyer.

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