Back Bay Boston Real Estate Market Update 7/14/08  

Data courtesy of LINK-ONLINE
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Average $ per square Foot Quarterly

2nd Quarter average closed: thru 6/30 (not final) : $760/SF.

Closed Units per Quarter

Closed 2nd quarter thru 6/30 (not final): 176

During the 1st quarter '08, the average selling price was 94.61% of last asking.
During the 4th quarter, the average selling price was 95.03% of last asking.
During the 3rd quarter, the average selling price was 96.14% of last asking.
During the 2nd quarter, it was about 94.30% of last asking.

Approx. average days on market for units closed during the 1st quarter: 106
Approx. average days on market for units closed during the 4th quarter 2007: 81
Approx. average days on market for units closed during the 3rd quarter: 86 
95 in the 2nd  quarter
126 in the 1st quarter 2007.

Under Agreement Rate thru 6/30/08: (MLS-PIN)

How much of the available inventory goes under agreement each month?

The number of available condos as of 7/14: 218. Supply since the end of 2006 has generally been moderate, with 2008 being a bit higher than last year. Supply is rising right now.

Average days on market for available units as of 6/9: 139.

Median Sale Price

2nd quarter (not final): $737,500
 

Average $ per Square Foot Yearly

It is important to remember that average $ per SF is really just an index. Value varies greatly according to location, condition, configuration, location in building, parking, condo association factors, etc.