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Average $ per square Foot Quarterly
1st Quarter
as of 3/31(prelim)$346/SF.
2nd Quarter thru 4/30: $361/SF
The west side of South Boston
(really), in particular, has some excellent
new medium-large scale projects (Court Square Press,
MacAllen, Allele, 36 A Street with more coming).
Additionally, there are new amenities moving in, as
they always do, to cater to the needs of new
residents. The proximity of these
contemporary-design buildings to the South End and
the Seaport District is fueling sales there. The
developers of these projects have taken to referring
to this area as part of the Seaport District. It's
not.
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Closed Units per Quarter
Closed, 1st Quarter as of 3/31(prelim): 89 units.
Under agreement, 2nd quarter as of 4/30:
2008: 75
2007: 100
2006: 89
2005: 100(SOURCE: MLS-PIN)
Average
percentage selling price to asking price 1st quarter:
93%
Average percentage selling price to asking price 4th
quarter: 96.39%
Average percentage selling price to asking price 3rd
quarter: 97.83%
Average percentage
selling price to asking price, 2nd quarter: 97.25%
Average percentage selling price to asking price,
1st
quarter '07: 96.68%
This
is pretty consistent with the last few years.
Approx. 117 days on market average for units closed
during the 1st quarter.
Approx. 65 days on market average for units closed
during the 4th quarter 2007.
Approx. 81 days on market average for units closed
during the 3rd quarter.
Approx. 95 days on market average for units closed
during the 2nd quarter.
Approx. 113 days on market average for units closed
during the 1st quarter 07.
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Median Sale Price
1st Quarter median sale price as of 3/31(prelim) $370,000
2nd Quarter median sale price thru 4/30/08: $500,000
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Under Agreement Rate
thru 4/15/08:(SOURCE: MLS-PIN)
How much of the available
inventory goes under agreement each month?
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Number of Available Condominiums
(SOURCE:
LINK)
The number of available condos as of 4/30/08: 199
Average days on
market for available units as of
4/30/08: 122
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Average $ per Square Foot Yearly
The actual figures for
each unit sold in 2007 range from $194/SF to
about $760/SF for a 2755 SF 3 bed 3
bath combined unit (517/518) at the MacAllen
building, selling for $2,095,510.
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.
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