45 Province Street Luxury Condos Number of luxury condo sales – 4 Average sales price – $881,000.00 Median sales price – $855,000.00 Average price per square foot – $685.00 ———- The Clarendon Back Bay Luxury Condos Number of luxury condo sales – 8 Average sales price – $1,627,500.00 Median sales price – $1,385,938.00 Average price [...]

Click photo to enlarge. via John Sherfius

Following up on the post immediately below, experts are beginning to analyze the economic impact of a current housing phenomenon: “squatters’ rent.” It seems that some of the “rising income” of Americans is tied to underwater homeowners simply refusing to pay their monthly home mortgages, freeing up money for other purposes and purchases. In the crazy [...]

Three out of 10 homeowners in foreclosure have not made any payments in at least two years. – Source New York Times

New Real Estate Listings - Updated March 31, 2011 MLS #   Address   Description List Price 71206476   500 Atlantic Ave   5 room, 3 bed, 4 bath 2/3 Family $3,249,000 71206964   3 Battery Wharf   6 room, 2 bed, 2 bath 2/3 Family $2,390,000 71206895   3 Battery Wharf   4 room, 2 [...]

Values are still more than 4 percent higher than they were two years ago and the economy appears to be improving. It certainly suggests the housing market  has stabilized….It is probably not going to get worse, but it has yet to really take off. -Northeastern University economist Alan Clayton-Matthews.

The following information was obtained from 2010 Census: Massachusetts homeownership rate 1st Q 2010 – 63.8%. Massachusetts homeownership rate 4th Q 2010 – 65.6% ———– Boston-Cambridge-Quincy homeownership rate 1st Q 2010 – 63.8% Boston-Cambridge-Quincy homeownership rate 4th Q 2010 – 67.0%

The National Association of Realtors (NAR) is reporting that many first time home buyers are sitting on the sidelines when it comes to purchasing a home. In February, 34% of re-sale homes were purchased by first time home buyers. In a “healthy” market that figure would  more likely be 40% – 45% of purchases. One major [...]

Four new Boston luxury rental/condo developments will add over 1,000 new apartments to our Boston rental inventory. Boston West End: 500 rental units will be added at the Garden garage. Boston Chinatown – 295 apartment units will be added. Construction will begin early 2012. Boston Downtown Crossing – 263 apartments and condos will begin this summer 2011. Boston Financial [...]

Boston Back Bay real estate sales comparing 2011 with 2010 from January 1st through March 3oth: Back Bay condo sales 1/1/2011 – 3/30/2011 – 71. Average Back Bay condo sales price – $1,315,101.00 Median Back Bay condo sales price – $827,780.00 Average sales price per square foot – $810.00 ———— Back Bay condo sales 1/1/2010 [...]