According to LINK data Back Bay condo sales and prices continue to increase:
Back Bay condo sales from 1/1/09 – 7/31/09
Number of Back Bay condo sales – 189
Avg Back Bay condo sales price – $980,702
Median Back Bay condo sales price – $650,000
Avg. Back Bay condo price per sq ft – $748.00
Avg. days-on-market for a Back Bay [...]

The W seems to be moving forward with their sales. The last closing was on August 23, 2010 unit 27B sold for $2,250,000 or $1,254 per sq ft., which included an indoor parking space.
File Under: Big cheer for the W marketing team.

The avg. days on market for Boston condos:
Back Bay Condos – Avg. market time 156.16 days.
Beacon Hill Condos – Avg. market time 152.64 days.
Charlestown Condos – Avg. market time 113.63 days.
South Boston Condos – Avg. market time 103 days.
South End Condos – Avg. market time 99.35 days.

Back Bay condo sales for July 2010:
Number of sales – 28
Avg. list price – $1,213,821.00
Avg. sales price – $1,152,518.00
Avg. sq ft list price – $944.00
Avg. days on market – 87.32
Back Bay condo sales for July 2009:
Number of sales – 44
Avg. list price – $674,241.00
Avg. sales price – $644,382
Avg. sq ft list price – $730.00
Avg. days [...]

According to MLS, 50 condominiums are presently under agreement in the Back Bay; 21 of those condos are priced $1,000,000 and above.

Please click image to enlarge.

An update on the Back Bay condo market.
Number of Back Bay condos for sale: 325
Least expensive Back Bay condo for sale: $190,000 (280 sq ft)
Most expensive Back Bay condo for sale: $13,700,000 or $2,783.42 sq ft.

Last month was a tough one for sellers at the Mandarin. Three sales were recorded and all sold below their purchase price in 2008.
May 5, 2010 – The Mandarin C1-PH sold for $9,050,000
Purchased on September 24, 2008 for $10,014,820
May 10, 2010 – The Mandarin 10-B sold for $5,500,000
Purchased on October 1, 2008 for $5,340,860
May [...]

The new marketing team at 45 Province Street appear to be on the right track. According to MLS, three Boston luxury condos at 45 Province are now under agreement. I’m happy to report that Vilma in my office just recently put one of the three units under agreement. Vilma spoke very highly of the new [...]

Not all Boston sellers are cutting asking prices to sell their condos. MLS reported that Campion & Company sold 100 Beacon Street #8 for asking price. But it did take some time. The property was first listed for sale on 1/24/2008 for $6,250,000 and sold on 4/14/2010 for the same price of $6,250,000.
File Under: Thumbs [...]