Condo sales in Downtown Boston* for the first three months of the year are up 38% compared to last year. Across the board, the number of units sold, average price, median price, and price per square foot are all up substantially over 2009:
| Q1 2010 |
Q1 2009 |
% Change |
|
# Sold |
290 |
210 |
+38% |
| Avg Price |
$917,661 |
$734,152 |
+25% |
| Med Price |
$600,000 |
$494,500 |
+21% |
| Price/Sq Ft |
$697 |
$609 |
+14% |
| D.O.M. |
148 |
132 |
-12% |
Although comparing this year to last is a bit tenuous given the fact that last year we were in the thick of the aftermath of the financial meltdown and sales ground almost to a halt (this year's sales numbers are in fact lower than both 2007 and 2008, though prices are up), it is nonetheless a positive sign for the market. The luxury market has clearly started to come alive again, driving average prices substantially higher. There were 80 sales over $1,000,000 in Q1 2010 versus only 35 in Q1 2009. That sales total in the luxury segment for the quarter is about on par with 2008 numbers.
More analysis on 2010 Q1 to come soon....
*Downtown Boston is made up of Back Bay, Beacon Hill, Fenway/Kenmore, Midtown, North End, South End, Waterfront, and West End.
2000-2009 Boston Condo Market Report
Looking for accurate data and market trends for the Boston real estate market with neighborhood by neighborhood analysis?
Get the 2000-2009 Boston condo market report sent directly to you by email.
For more information, click here.
