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Boston South End Condos – Penny Savings Bank

boston-luxury-south-end-condos

Per request, Penny Savings Bank condo sales data.

2007
condos sold: 7
Avg. $: $961,816
Median $: $1,166,490
Avg. $/SF: $787
Avg. DOM: 3

2008
condos sold: 3
Avg. $: $989,000
Median $: $1,077,000
Avg. $/SF: $742
Avg. DOM: 131

2009
condos sold: 1
Avg. $: $980,000
Median $: $980,000
Avg. $/SF: $655
Avg. DOM: 161

Your thoughts?

Read other posts about: Boston Real Estate

Posted by Ford Realty on 12/02/09 |
| Read 1 Comment »

One Response to “Boston South End Condos – Penny Savings Bank” »»

  1. rich
    Comment by rich | 12/02/09 at 5:58 am

    Obviously the DOM numbers are off. Units sold in 2009 have been on the market since late 2007. The DOM numbers must have been shrunk by relisting games.

    My take is that PSB was overpriced to begin with and the developer hasn’t dropped prices quick enough. After 2 years, the project has only sold 1/3 of its units.

    By my rough calculations, a developer’s cost go up by 5% for each year that a unit remains unsold.

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