Back Bay Boston Real Estate Market Update 4/30/08  

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

Average $ per square Foot Quarterly

1st Quarter average closed thru 3/31 (prelim) : $779/SF.

2ndQuarter avg. closed thru 4/30: $745/SF.

Closed Units per Quarter

Closed 1st quarter thru 3/31(prelim): 80

Under agreement, 2nd quarter as of 4/25: 
2008: 52
2007: 44
2006: 39
2005: 47(MLS-PIN)

During the 4th quarter, the average selling price was 95.03% of last asking.
During the 3rd quarter, the average selling price was 96.14% of last asking.
During the 2nd quarter, it was about 94.30% of last asking.

Approx. average days on market for units closed during the 1st quarter: 106
Approx. average days on market for units closed during the 4th quarter 2007: 81
Approx. average days on market for units closed during the 3rd quarter: 86 
95 in the 2nd  quarter
126 in the 1st quarter 2007.

Under Agreement Rate thru 4/15/08: (MLS-PIN)

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

The number of available condos as of 4/30: 225. Supply since the end of 2006 has generally been moderate.

Average days on market for available units as of 4/30: 114down about 17 from a month ago.

Median Sale Price

4th quarter (FINAL): $629,000
1st quarter thru 2/20: $710,000.

Average $ per Square Foot Yearly

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.