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.

Mayor of Boston in contract to buy new home in Dorchester – Lower Mills (photos)

According to the Dorchester Reporter, Boston mayor Martin J. Walsh is in the process of buying a new home in the city’s Dorchester neighborhood; specifically, in the Lower Mills section. The property was listed in our local multiple listing service (MLS) for $699,000, and went under agreement in just four days, suggesting that the mayor made a strong offer. A closing date for the transaction has not been announced.

Reporter reporter Lauren Dezenski quotes “a source close to the mayor” who says that Walsh is planning to move into the single-family home with his longtime partner, Lorrie Higgins. Currently, the mayor, a native of Dorchester, lives in the lower level of a two-family home on Tuttle Street in the Columbia-Savin Hill section of the neighborhood. He purchased that property for $150,000 in 1999, according to the public record.

The Butler Street house is triple the size of the mayor’s current abode, according to published reports, with over 2,900-square feet of space, including four bedrooms and three full baths. The current owner purchased the property in 2010 for $500,000, according to the public record.

Below, an image gallery of the home, from the MLS listing. Julie Joyce of Boston Bayside Properties is representing both buyer and seller in the transaction.

Boston condos and real estate sales report for week ending July 19, 2015

The following is Boston Proper condo and real estate sales data for the month ending 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: 280 257 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 72 75 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $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: $,1805,048 $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: 138 137 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 200 185 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 38 36 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $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: $1,053,450 $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% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: $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 are remaining super-heated even now that we’re in mid-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, 400 Stuart Street #24A, The Clarendon, Back Bay, Boston, Massachusetts. Jessica Quirk at Broadway Village Real Estate was the listing agent and Amy Jacob at Heath Properties 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 July 12, 2015

The following is Boston Proper condo and real estate sales data for the month ending July 12, 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: 277 257 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 70 75 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,199,000 $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: $1,773,737 $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: 136 137 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 204 185 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 36 36 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $763,250 $696,000 $720,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $1,078,301 $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: 101% 100% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: $219,973,403 $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: The new normal is here – ~260 units on the market at this time of year, similar days on market, selling for list price, higher prices.

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, 505 Tremont Street #PH903, Atelier 505, South End, Boston, Massachusetts. Keith Shirley and Valerie Post of Meridian Realty Group were the listing agents and Burns & Karpowicz of Benoit Mizner Simon & Co were the buyer’s agents.

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

Boston condos and real estate sales report for July 5, 2015

The following is Boston Proper condo and real estate sales data for the month ending July 5 2015, 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: 262 228 250 279 n/a 604 (637) (982) (1,136) (n/a)
Average days on market: 72 81 79 68 n/a 100 (96) (122) (115) (n/a)
Median list price: $1,349,000 $1,174,000 $1,087,000 $950,000 n/a $749,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $1,857,106 $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: 159 155 193 165 n/a 218 (190) (169) (176) (n/a)

Number of units sold (past 30 days): 200 182 136 138 164 158 (155) (156) (145) (109)
Average days on market: 34 33 46 40 53 105 (107) (90) (105) (90)
Median close price: $757,000 $720,000 $767,000 $668,000 $651,000 $605,000 ($605,000) ($530,750) ($554,775) ($510,000)
Average close price: $1,098,130 $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: 101% 101% 99% 99% 98 96% (96%) (94%) (95%) (95%)
Sales velocity: $219,625,903 $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: The spring market was hot and for the period for prior years covering the past 30 days, has never been hotter.

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, 220 Boylston Street #1612/#1614, Four Seasons, Back Bay, Boston, Massachusetts, which recently sold for $3,800,000. Tracy Campion of Campion & Company Fine Homes Real Estate represented the seller and Jacqui Kelter of All Points Properties 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 June 28, 2015

The following is Boston Proper condo and real estate sales data for the week ending June 28 2015, June 21 2015, June 1 2014, June 1 2013, June 3 2012, (May 20 2012), (June 5 2011), (June 5 2010), and (June 5 2009) where available. All condominium closings recorded by our local MLS during the past month.

(I didn’t do the numbers last year for the comparable period so am using June 1 data for prior years.)

Number of units currently on the market: 298 287 277 296 (n/a) 567 (604) (959) (1,093) (n/a)
Average days on market: 64 64 62 69 (n/a) 100 (100) (120) (122) (n/a)
Median list price: $1,250,000 $1,349,000 $1,350,000 $939,500 (n/a) $739,000 ($749,000) ($639,000) ($632,500) (n/a)
Average list price: $1,802,683 $1,935,194 $1,927,136 $1,512,023 (n/a) $1,092,319 ($1,095,540) ($986,086) ($1,009,676) (n/a)

Number of units under currently agreement: 186 176 198 165 (n/a) 220 (218) (156) (137) (n/a)

Number of units sold (past 30 days): 206 199 193 145 210 201 (158) (162) (160) (145)
Average days on market: 34 29 30 55 53 86 (105) (87) (101) (105)
Median close price: $767,750 $810,000 $815,000 $575,000 $674,000 ($605,000) ($555,000) ($542,000) ($555,000)
Average close price: $1,126,926 $1,097,381 $1,079,043 $729,714 $932,011 ($764,283) ($812,455) ($771,033) ($695,832)
Original list to close price: 101% 101% 101% 100% 98% 96% (96%) (94%) (95%) (94%)
Sales velocity: $230,086,764 $218,378,748 $208,255,211 $149,655,505 $195,722,401 $146,672,464 ($120,756,756) ($131,617,725) ($123,365,227) ($100,895,635)

Thoughts: The spring market was a healthy one, even with little inventory – at least for sellers.

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, 778 Boylston Street #7B, Back Bay, Boston, Massachusetts, which recently sold for $2,940,000. Jeannemarie Conley of Otis & Ahearn represented the seller and the Steven Cohen Team at Keller Williams Realty Boston represented the buyer.

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