For comparison sake, I thought I’d take a look the sales data in Boston LINK for the 2 bedroom condominiums that closed in the Back Bay in August 2007 and compare that with 2006. This year we saw a greater number of 1 million plus sales, driving the Average Sale price up from 2006 as well as the price per square which for the period 8/1 - 8/31/07 averaged $806.
Least Expensive 2 bedroom to close in August 2007
$586,000 - 363 Marlborough Street Unit #3
This is a 950 square foot Parlor Garden Duplex 2 bedroom with 1 bath.
$617 / square foot
Most Expensive 2 bedroom to close in August 2007
$1,645,000 - 330 Beacon St #95
1354 square feet 2 bedroom 2 bath nit at $1,215 / square feet
August 2007 Summary of 21 closings in the database
Avg. Selling Price: $1,080,738
Median Selling Price: $985,000
Avg. $/SF: $806
Avg. Days On Market: 62
August 2006 Summary of 20 closings in the database
Avg. Selling Price: $823,225
Median Selling Price: $795,000
Avg. $/SF: $702
Avg. DOM: 89
This continues a trend we have been seeing where many of the under $500,000 purchases are shifting to other neighborhoods. At the same time, the demand for more expensive condominiums continues to remain solid in Boston’s neighborhoods close to Copley Square and Newbury Street shopping.
