Downtown Boston condo sales show same results, 4-years running

By
John Keith
Published: November 24, 2009Posted in: boston condo statistics, breaking news
Downtown Boston condo sales show same results, 4-years running

homesCondo sales data for the Downtown Boston neighborhoods shows a resilient and healthy real estate market for the past four years. For the months of September and October during 2006-2009, the number of sales has stayed constant. Sales velocity, the total amount of all sales added together, spiked in 2008 and is back at 2006 & 2007 levels. Median sales prices have remained constant – 2009 is just $5,000 less than the 2008 high. Average sales prices spiked in 2008 and are now back at 2006 & 2007 levels.

The effect of high-priced sales can be seen most significantly in 2008. Two sales of $6 million+ and four sales of $4 million+ properties put sales velocity over $200 million and increased the average sales price to $795,255. Without these six sales, the average would have dropped to $688,000, on par with 2009 and similar to 2006 & 2007 averages. Four of those six sales were in the Zero Marlborough luxury building. (2009 totals include only two ‘new development’ condos – a $1.5 million sale at Battery Wharf and a $1.5 million sale at The Bryant.)

2009 – median: $515,000 # Sold DOM Average $ Total Sales
$0 – $49,999 0 0 $0 $0
$50,000 – $99,999 0 0 $0 $0
$100,000 – $149,999 1 3 $145,000 $145,000
$150,000 – $199,999 2 21 $162,500 $325,000
$200,000 – $249,999 7 74 $216,571 $1,515,997
$250,000 – $299,999 9 113 $275,167 $2,476,503
$300,000 – $349,999 34 70 $330,868 $11,249,512
$350,000 – $399,999 26 58 $375,827 $9,771,502
$400,000 – $449,999 20 56 $425,045 $8,500,900
$450,000 – $499,999 17 141 $474,372 $8,064,324
$500,000 – $599,999 45 104 $539,539 $24,279,255
$600,000 – $699,999 24 78 $637,813 $15,307,512
$700,000 – $799,999 18 94 $738,211 $13,287,798
$800,000 – $899,999 9 79 $852,778 $7,675,002
$900,000 – $999,999 7 144 $949,286 $6,645,002
$1,000,000 – $1,499,999 20 173 $1,182,675 $23,653,500
$1,500,000 – $1,999,999 9 102 $1,704,139 $15,337,251
$2,000,000 – $2,499,999 4 164 $2,061,875 $8,247,500
$2,500,000 – $2,999,999 3 188 $2,500,000 $7,500,000
$3,000,000 – $3,999,999 4 295 $3,381,250 $13,525,000
$4,000,000 – $4,999,999 0 0 $0 $0
$5,000,000 – $9,999,999 0 0 $0 $0
$10,000,000 – $99,999,999 0 0 $0 $0
Total Properties 259 100 $685,354 $177,506,558
2008 – median: $520,000 # Sold DOM Average $ Total Sales
$0 – $49,999 0 0 $0 $0
$50,000 – $99,999 0 0 $0 $0
$100,000 – $149,999 0 0 $0 $0
$150,000 – $199,999 4 85 $178,750 $715,000
$200,000 – $249,999 5 139 $231,800 $1,159,000
$250,000 – $299,999 23 101 $275,557 $6,337,811
$300,000 – $349,999 24 72 $321,063 $7,705,512
$350,000 – $399,999 24 82 $372,558 $8,941,392
$400,000 – $449,999 20 96 $422,768 $8,455,360
$450,000 – $499,999 22 68 $472,409 $10,392,998
$500,000 – $599,999 30 91 $541,307 $16,239,210
$600,000 – $699,999 19 103 $646,750 $12,288,250
$700,000 – $799,999 15 90 $746,233 $11,193,495
$800,000 – $899,999 12 69 $841,665 $10,099,980
$900,000 – $999,999 12 64 $959,167 $11,510,004
$1,000,000 – $1,499,999 29 114 $1,219,274 $35,358,946
$1,500,000 – $1,999,999 9 210 $1,841,889 $16,577,001
$2,000,000 – $2,499,999 6 222 $2,181,667 $13,090,002
$2,500,000 – $2,999,999 1 47 $2,550,000 $2,550,000
$3,000,000 – $3,999,999 1 332 $3,600,000 $3,600,000
$4,000,000 – $4,999,999 4 178 $4,591,947 $18,367,788
$5,000,000 – $9,999,999 2 116 $6,887,500 $13,775,000
$10,000,000 – $99,999,999 0 0 $0 $0
Total Properties 262 100 $795,255 $208,356,749
2007 – median: $499,000 # Sold DOM Average $ Total Sales
$0 – $49,999 0 0 $0 $0
$50,000 – $99,999 0 0 $0 $0
$100,000 – $149,999 0 0 $0 $0
$150,000 – $199,999 4 51 $171,375 $685,500
$200,000 – $249,999 10 73 $223,750 $2,237,500
$250,000 – $299,999 20 87 $268,075 $5,361,500
$300,000 – $349,999 18 56 $325,111 $5,851,998
$350,000 – $399,999 26 87 $375,628 $9,766,328
$400,000 – $449,999 33 88 $421,200 $13,899,600
$450,000 – $499,999 25 124 $477,680 $11,942,000
$500,000 – $599,999 32 92 $553,377 $17,708,064
$600,000 – $699,999 28 89 $654,459 $18,324,852
$700,000 – $799,999 15 176 $753,200 $11,298,000
$800,000 – $899,999 12 137 $848,025 $10,176,300
$900,000 – $999,999 9 80 $933,628 $8,402,652
$1,000,000 – $1,499,999 22 145 $1,251,673 $27,536,806
$1,500,000 – $1,999,999 12 83 $1,624,683 $19,496,196
$2,000,000 – $2,499,999 3 246 $2,209,167 $6,627,501
$2,500,000 – $2,999,999 0 0 $0 $0
$3,000,000 – $3,999,999 1 139 $3,800,000 $3,800,000
$4,000,000 – $4,999,999 0 0 $0 $0
$5,000,000 – $9,999,999 0 0 $0 $0
$10,000,000 – $99,999,999 0 0 $0 $0
Total Properties 270 102 $641,166 $173,114,797
2006 – median: $481,250 # Sold DOM Average $ Total Sales
$0 – $49,999 0 0 $0 $0
$50,000 – $99,999 0 0 $0 $0
$100,000 – $149,999 0 0 $0 $0
$150,000 – $199,999 2 58 $184,125 $368,250
$200,000 – $249,999 10 52 $224,175 $2,241,750
$250,000 – $299,999 27 89 $275,241 $7,431,507
$300,000 – $349,999 26 89 $325,388 $8,460,088
$350,000 – $399,999 20 97 $372,900 $7,458,000
$400,000 – $449,999 30 116 $421,843 $12,655,290
$450,000 – $499,999 19 191 $474,921 $9,023,499
$500,000 – $599,999 30 145 $546,168 $16,385,040
$600,000 – $699,999 15 136 $637,100 $9,556,500
$700,000 – $799,999 14 124 $740,350 $10,364,900
$800,000 – $899,999 12 129 $848,958 $10,187,496
$900,000 – $999,999 4 217 $970,625 $3,882,500
$1,000,000 – $1,499,999 19 130 $1,183,053 $22,478,007
$1,500,000 – $1,999,999 15 106 $1,698,167 $25,472,505
$2,000,000 – $2,499,999 3 91 $2,125,000 $6,375,000
$2,500,000 – $2,999,999 2 66 $2,550,000 $5,100,000
$3,000,000 – $3,999,999 1 78 $3,690,000 $3,690,000
$4,000,000 – $4,999,999 3 485 $4,166,667 $12,500,001
$5,000,000 – $9,999,999 0 0 $0 $0
$10,000,000 – $99,999,999 0 0 $0 $0
Total Properties 252 123 $689,009 $173,630,333

Data collected from third-party sources by the Multiple Listing Service Property Information Network, Inc., for the period 09/01 – 10/31 for the years 2009, 2008, 2007, and 2006. Neighborhoods include Charlestown, North End, West End, Waterfront, Seaport District, Theater District, Leather District, Midtown, Beacon Hill, Back Bay, South End, and The Fenway.

Related posts:

  1. Boston condo sales data, 2005, 2006, 2007, 2008, 2009
  2. Back Bay condo sales during 2nd quarter, 2010
  3. Beacon Hill condo sales for 2nd quarter, 2010
  4. South End condo sales during 2nd quarter, 2010
  5. North End condo sales during 2nd quarter, 2010
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