Boston Real Estate Blog

Boston Luxury Condos

JohnF — Sun, 05 Jul 2009 14:02:59 +0000

Since January 1, 2009 thirty-one (31) Boston condos have sold for $2,000,000.00 or more. The average price per sq ft in this price range $1,309.00

Source: LINK

Boston North End Condo Sales

JohnF — Sun, 05 Jul 2009 11:52:12 +0000

Comparing the first 6 months of 2009 with 2008.

North End condo sales from 1/1/09 - 7/1/09
Number of North End condo sales - 31
Avg. North End condo sales price - $477,674
Median North End condo sales price - $446,000.00
Avg. price per sq ft sales price - $555.00
Avg. days on the market - 114

North End condo sales from 1/1/08 - 7/1/08
Number of North End condo sales - 44
Avg. North End condo sales price - $500,969.00
Median North End condo sales price - $345,000.00
Avg. price per sq ft sales price - $601.00
Avg. days on the market - 90

To view Boston condos for sale visit our web site.

A song about the “Great Recession’

JohnF — Sun, 05 Jul 2009 11:13:54 +0000

Boston real estate and condo sales report, July 4, 2009

John Keith — Sat, 04 Jul 2009 12:00:46 +0000

The following information is from the local MLS database as of July 4, 2009, compared to (June 27, 2009) and (July 7, 2008).

Total # of condos for sale in the city of Boston: 2,106 (2,207) (2,309)
Average # of days on market: 127 (125) (129)

Number of condos sold, past 30 days: 379 (374) (394)
Average days on market, sold units: 92 (97) (96)
Ratio, closing/sales price to original/list price: 97% (97%) (95%)
Months supply of condos: 5.56 (5.90) (5.86)

Median close price, last thirty days, this year: $372,000
Median close price, last thirty days, last year: $399,000

Average close price, last thirty days, this year: $458,901
Average close price, last thirty days, last year: $520,286

# of properties going under agreement, last thirty days: 409 (410) (466)
Average # of days on market: 95 (94) (96)

Velocity: $173,923,601 ($171,746,870) ($216,159,855 )
(Velocity is the # of units sold during last 30 days multiplied by the $ amount)

My thoughts: Under agreements stay strong, this week, as do sales. I think we may have hit parity with last year, although average and median prices are lower.

It looks as if last year I skipped a week or a couple days, so we’re not comparing same exact weeks.

Based on information provided to and compiled by the Multiple Listing Service Property Information Network, Inc. covering the period 06/04/2009 - 07/04/2009, 05/27/2009 - 06/27/2009, and 06/07/2008 - 07/07/2008.

Watergate Hotel facing foreclosure

JohnF — Sat, 04 Jul 2009 00:27:41 +0000

The Washington Post reports that the infamous Washington D.C. hotel could be the latest hotel to head for foreclosure. Washington developer Monument Realty defaulted on a $70 million loan that came due this week. Monument bought the hotel five years ago and it has been closed ever since. Initially the developer planned to cash in on the real estate craze by turning it into luxury co-op apartments. Last year it decided to keep it as a hotel. Lehman Brothers was also a partner and equity investor in the property.