I’m amazed by that, I have to tell you.

I distribute a series of Boston real estate market reports on a weekly basis. They are broken down by ZIP code.

This week’s report on ZIP code 02116 showed something I found startling.

There are 150 condos on the market, currently.

Half of these are listed over $1,000,000.

What do you get for $1,000,000 in the Back Bay (02116 actually straddles the Back Bay and South End, but I’m focused on the Back Bay listings, only, here)?

A 1300-square foot, 2-bedroom, 2-bathroom condo at One Charles, with a parking space included.

Over the past twelve months, there have been at least 160 sales of +$1 million properties in the Back Bay.

Over the past twelve months, there have been at least 50 sales of +$2 million properties in the Back Bay.

There have been more +$2 million sales over the past year than ever before.

There’s around a 1/2 year’s supply of +$1 million properties on the market, currently. I don’t think that’s too excessive, given the number of buyers.

It makes you wonder – should you continue to call $1 million condos “luxury” when they pretty much refer to the standard “typical” Back Bay home?

Here is a copy of the detailed marketing report I distribute weekly to my clients.

If you want to begin receiving it, please contact me about working for you as a buyer’s agent.

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    SEARCH FOR CONDOS FOR SALE AND RENTALS

    For more information please contact one of our on-call agents at 617-595-3712.

    Updated:  1st Q 2018

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