Boston Metro has a positive story this morning on the Back Bay market:

Boston real estate brokers are saying the Back Bay market is “on fire,” with 69 sales since January with an average price of $1.4 million. “Many buyers feel the recession is ancient history,” says John Ford, owner of Ford Realty on Charles and Tremont streets. “Last year at this time, peoples’ investment portfolios were losing money. They’ve gained the losses from 2009. Now they are using their recouped losses, and have more confidence in purchasing luxury condos.”

During the same time period last year, only 29 units sold in the Back Bay area with an average sale price of $1.3 million. The high-end market in Back Bay was also driven up by two luxury properties that just received occupancy permits — the W Residences and The Clarendon, both on Stuart Street.

Many of these condos were put under agreement in ’08 and ’09, but closings on about 28 units occurred this quarter.

There are currently 42 properties under agreement in Back Bay with 26 valued at $800,000 or more, and 21 at $1 million or more, according to Multiple Listings Service.

“Activity in the entire Boston market has really picked up and the momentum in Back Bay is excellent right now,” says Paul Santucci, a broker with Boston Realty Advisors. “Although there are hotter neighborhoods in Boston at the moment, the Back Bay still embodies the characteristic of luxury and perfect Boston location, continuing to attract buyers.”

Author Profile

John Ford
John Ford
EXPERIENCE

Over the course of 20 years in the Boston downtown real estate market, John represented and sold numerous, condominiums, investment and development properties in Greater Boston and in the surrounding suburbs



In addition to representing Boston condo buyers and sellers, John is currently one of the most recognized Boston condo blog writers regarding Boston condominiums and residential real estate markets. John's insights and observations about the Boston condo market have been seen in a wide variety of the most established local & national media outlets including; Banker and Tradesman, Boston Magazine The Boston Globe, The Boston Herald and NewsWeek and Fortune magazine, among others.



HISTORY

For over 24 years, John Ford, of Ford Realty Inc., has been actively involved in the real estate industry. He started his career in commercial real estate with a national firm Spaulding & Slye and quickly realized that he had a passion for residential properties. In 1999, John entered the residential real estate market, and in 2000 John Started his own firm Ford Realty Inc. As a broker, his clients have come to love his fun, vivacious, and friendly attitude. He prides himself on bringing honesty and integrity to the entire home buying and selling process. In addition to helping buyers and sellers, he also works with rental clients. Whether you’re looking to purchase a new Boston condo or rent an apartment, you’ll quickly learn why John has a 97% closing rate.

AREAS COVERED

Back Bay

Beacon Hill

Charles River Park

Downtown/Midtown

North End

South End

Seaport District

South Boston

Waterfront

Brookline

Surrounding Communities of Boston
Contact
John Ford and his staff can be reached at 617-595-3712 or 617-720-5454. Please feel free to stop by John's Boston Beacon Hill office located at 137 Charles Street.




John Ford
Ford Realty Inc
137 Charles Street
Boston, Ma 02114

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