Back Bay
The sale of premium luxury units at new high end luxury buildings like the Bryant (including regular sales and their recent closeout auction of 10 units) and the Clarendon have buoyed median prices. Overall inventory is low.
Compared to 2009 properties are:
- Selling for more: Median price is up 14.11% to $784,500. Median price per square foot up 3.53% to $724.07
- Time on the market before going under agreement: Up slightly from 113 to 120 days.
- Available inventory continues to be at historic lows down…down 23%
- All this despite sales being down 5.8% to 114 units.
While overall number of sales are down. Those that did sell, sold for a bit more taking slightly longer to do so than last year. Higher end luxury buyers have come back into the market after holding off in the fall of 2008.
For you numbers fans, the full report from LINK (Boston’s own multiple listing system) is available. Please email me and I will get it to you.
If you (or a friend) are looking to buy or sell, please contact me. I welcome the opportunity to put my market expertise to work for you.
