Median and average prices dropped in the Back Bay, third-quarter, 2006 versus third-quarter, 2007.

According to the Herald:

Condo prices in toney Back Bay are falling at a time when the overall Boston market is showing signs of a rebound.

Preliminary Multiple Listing Service figures show median Back Bay condo prices fell to $509,000 during the third quarter, down 15 percent from a year earlier.

Based on my analysis of the MLS data, average sales prices dropped, as well, from $857,331 to $703,261, or 17.9%.

There weren’t many units closing an any of the large condo complexes, so that doesn’t explain the drop.

Perhaps, as John Ford says in the article, it’s just a matter of people having more of a selection of high-end product, throughout the city. The InterContinental, on the Rose Kennedy Greenway, may have drawn buyers out of the neighborhood, and sales at One Charles and in the Ritz Towers remain as strong as ever.

In fact, … preliminary MLS figures show the number of Back Bay condos changing hands actually rose to 123 in the latest quarter, up 6.9 percent from a year earlier.

Also, number of days on market actually dropped, from 118 days to 91 days, on average.

More: Back Bay down, but not at all out – By Jerry Kronenberg, The Boston Herald

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Updated:  1st Q 2018

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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