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Average $ per square Foot Quarterly
2nd quarter thru 6/30 (not final): $447/SF.
The price per
square foot in this area is going to ride partially
upon what kind of units are available, and any
building rehab or construction that is occurring.
This is not yet a large or particularly developed area
(it will be), and the sample size is
small. The jump during '04 was mainly due to the
beginning of the sellout of the Channel Center.
There are hundreds more units, stores, and
restaurants on the drawing board that will be
completed within the next few years.
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Closed Units per Quarter
Closed 2nd quarter thru 6/30 (not final): 20
For the
1st quarter, selling price was an average of
91.33% of asking.
For the
4th quarter, selling price was an average of
93.67% of asking.
For the
3rd quarter, selling price was an average of
95.12% of asking.
For the 2nd, it was 93.1%, and
For the 1st '07 it was 90.1%.
Approx. average days on market units closed during
the 2nd quarter was 87.
Approx. average days on market units closed during
the 1st quarter was 194, includes preconstruction
periods.
Approx. average days on market units closed during
the 4th quarter was 39.
Approx. average days on market units closed during
the 3rd quarter was 83.
For the 2nd quarter,
79.
During
the 1st quarter '07 was 279.
This includes pre-construction time for the units
sold at the Channel
Center. The few other units to transact during this
time had much lower days on market numbers.
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Median Selling Price
2nd quarter thru 6/30 (not final): $554,0000.
This area is really just being born.
Earlier than '03, it really just consisted of Fort
Point Place, the lofts at Sleeper Street and one or
two other buildings. The Channel Center began
closing in the 3rd quarter of "04. The other
spikes after that represent clusters of the larger
more expensive units closing there.
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Number of Available Condominiums
The number of available
condos as of
7/17/08: 22. This includes
units currently listed in LINK at the Macallen
Building, Court Square Press, Allele, and 36 A
Street, which are, in my humble opinion, really in
South Boston. There are also many more units available
at FP3 on Congress Street, and Allele than are currently listed
in the MLS and LINK.
Average days on market for available units as of
7/17/08:
87.
This includes pre construction marketing time for
the units listed at the MacAllen Building and FP3.
This number would go up considerably if all the
available units were listed.
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Average $ per Square Foot Yearly
This chart shows the
approximate average dollar
per square foot figure
that condominiums in the Seaport District sold for
in each year from 1998 through the end of December,
2007.
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
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