LINK, a local real estate listing and reporting service similar to the MLS, came out with their 2013 Market Statistics for Boston’s Luxury Condo Market. We have reported how hot the market is based on a variety of stats and indicators and thought we would give another perspective. Interested in checking out a luxury condominium in Boston? We have tons of information on our Lux Buildings page!

In looking at the end of last year, we saw 214 sales of luxury condos for the year with an average price of $1,290,871. This is almost 3 TIMES the figure from 2012! (79 homes). And, when looking at Days on Market, we saw an average of only 21 compared to over 100 days the past 7 years! This shows you how quickly homes are selling and why multiple offers are so popular right now.

2013 Annual Stats

If you look at the year of 2013 in its entirety, the scenario looks very similar! There was an increase of over 50% from the year before with 421 luxury condos being sold compared to 273 in 2012. This is at an average sales price of $1,585,841.

Sales by Number of Bedrooms

It is interesting to take a look at the luxury condo market based on number of sales by number of bedroom. As you can see from the chart below, the majority of sales for the past three years are 2 bedroom units. However, it is interesting to note that 3 bedroom units jumped almost double in 2013 from the year before with 90 sales. (Check out the current 3 bedroom homes on the market in Back Bay, South End, and Beacon Hill.)