The October condominium market was down 38.8 percent compared to the same time last year (from 1,595 units sold in 2009 to 976 units sold in 2010).  On a month-to-month basis, condominium sales were down 12.7 percent compared to the 1,118 units sold this past September.  
 
Condominium median selling prices in October were down less than [...]

Sorry, not the best news to report, but the BBJ has a report on the estimated “shadow inventory” of unsold distressed and bank-owned homes in Boston. It’s about 19 months. Ouch. Here are more of the grisly details.

Banker & Tradesman reported today:
Boston Red Sox pitcher John Lackey, and his wife Krista, have purchased a condominium at 334 Beacon St. in Boston for $2.05 million.
Read more.

We all know the mortgage  process is complicated.
But just how complicated? The chart below shows the convoluted journey that Dan Edstrom home mortgage took as it morphs into a security.
Click on mortgage real estate chart to enlarge.

Read more.

A column in the Boston Herald

Overall, I believe that we will see more volatility in the markets and mortgage rates the first couple days of the week. The most important day will probably be Wednesday, while the least important will be Friday. As we saw last week, the markets can get pretty active at anytime, so please be careful and maintain contact with your mortgage professional if you have not locked an interest rate yet.

 The chart below shows the Boston condo inventory and days-on-market  for November 21, 2009 with November 21, 2010.
Click on real estate chart to enlarge.

Number of Back Bay condos for sale on MLS: 241
Number of Back Bay condos presently under agreement: 60
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Number of Beacon Hill condos for sale on MLS: 107
Number of Beacon Hill condos presently under agreement: 14

The Clarendon had another luxury condo sale this week, which brings it to approx 37% occupied. The last sale was unit #30B that sold for $1,750,000 and included a deeded parking space. Average price per sq ft $1,275.51.
The W, closed on 18J. This condo was on the market on 6/17/10 for $785,000 and just recently sold for $635,000 or approximately [...]

Engel & Volkers Real Estate opened its first Boston, Massachusetts real estate office, located at 30 Rowes Wharf, Boston, MA, along the Rose Kennedy Greenway earlier in the year.
Today, their Rowes Wharf  retail office space is up for rent.