Back Bay Boston Real Estate Market Update 7.22.10 

Data courtesy of LINK-ONLINE
Click here for more stats and charts from LINK

Condominiums Going Under Agreement   thru 7/15/10: (MLS-PIN)
Under agreements of note: 1 at the Clarendon ($1.775m), 1 at the Mandarin Oriental $5.9m, 3564SF)

Back Bay Boston real estate market condos under agreement

Average $ per square Foot Quarterly

2nd quarter thru
6/30 (final): $762/SF.
3rd quarter thru 7/21: $804



Back Bay Boston real estate market average $ per square foot

Closed Units per Quarter

Closed 2nd  quarter (final): 139
2nd quarter closings of note:
3 at The Clarendon and 3 at the Bryant.

Back Bay Boston real estate market closed condos

During the 2nd quarter '10, the average selling price was 93.8% of last asking.
During the 1st quarter '10, the average selling price was 94.2% of last asking.
During the 4th quarter '09, the average selling price was 89% of last asking.
During the 3rd quarter '09, the average selling price was 93.7% of last asking.
During the 2nd quarter '09, the average selling price was 93.18% of last asking.
During the 1st quarter '09, the average selling price was 92.8% of last asking.
During the 4th quarter '08, the average selling price was 96.4% of last asking.
During the 3rd quarter '08, the average selling price was 97.73% of last asking.

Approx. average days on market for units closed during the 2nd quarter (final):117
Approx. average days on market for units closed during the 1st quarter (final):161 (includes preconstruction time on new developments)
Approx. average days on market for units closed during the 4th quarter (final):132
Approx. average days on market for units closed during the 3rd quarter (final): 93
Approx. average days on market for units closed during the 2nd quarter (final): 118
Approx. average days on market for units closed during the 1st quarter (final): 147
Approx. average days on market for units closed during the 4th quarter: 123
Approx. average days on market for units closed during the 3rd quarter: 91
Approx. average days on market for units closed during the 2nd quarter: 75
 

Under Agreement Absorption Rate thru 7/15/10: (MLS-PIN)

How much of the available inventory goes under agreement each month?

Back Bay Boston real estate market absorption rate

Number of Available Condominiums

The number of available condos as of 7/21/10: 251.  Availabilities of note: 22 at One Charles, 5 resales at the Mandarin. One of them is an 8,000 SF penthouse with 3,000 square feet of private deck for only $16.9m. Let's go see that. Call me, OK?
Average days on market for available units as of 7/21: 150.

Back Bay Boston real estate market condo inventory

Median Sale Price

2nd quarter closed thru 6/30 (3Q final):
$660,000
3rd quarter
thru 7/21 $694,500  First quarter figure was due to 19 closings at the new Clarendon Back Bay

Back Bay Boston real estate market median sale price

Average $ per Square Foot Yearly

Average $/SF for 2009: $757/SF

High $/SF for 2009: $1,810 per SF at 100 Beacon St, PH A.  A 3535 SF 3 bed, 3.5 bath penthouse with private roofdeck, it sold for $6.4m.

Highest sale in 2009: The Riverside (132 Beacon Street #PH) 5058 SF 4 bed 4.5 bath penthouse sold for $6.527m

It is important to remember that average $ per SF is really just an index. Value varies greatly according to location, condition, configuration, location in building, parking, condo association factors, etc.

Back Bay Boston real estate market $ per square foot yearly

 

Condominiums Sold per Year

Back Bay Boston real estate market condos sold yearly

 

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Revised: July 28, 2010