Channeling my inner Jonathan Miller (the writer of a highly regarded New York market report), I finally completed my 2000-2009 Boston condo market report. This report is something I am really proud of, and took quite a bit of effort to put together. Containing nearly 100 pages of sales data in easy to digest graphical format, this is a report not to be missed even if you have only a passing interest in the Boston real estate market. That's my hint that you ought to download it!
I've broken down Boston sales data into the following sections:
- Citywide - I analyzed condo sales data from all neighbrohoods of Boston in aggregate from 2000-2009
- Downtown - I grouped Back Bay, Beacon Hill, Fenway, Midtown, North End, South End, Waterfront, and West End together to take a look at the "core" downtown neighborhoods and compare that to the citywide data
- Luxury - I extracted only condo sales with prices of $1,000,000 or more to examine the true Boston luxury condo market
- Neighborhoods - All the neighborhoods are given an individual section to take a closer look at each neighborhood's individual performance over time
There's some pretty interesting findings inside, so I definitely recommend downloading the report, but here are a few interesting tidbits:
- The downtown market median price is up 57% from 2000 to 2009
- Luxury market average price per square foot is down 11% in 2009 from 2008 but up 15% since 2000
- The neighborhood with largest gain in median price from 2000 to 2009 was Allston, with over 125% increase
- The most expensive neighborhood in 2009 in terms of average price is the Back Bay, but in terms of average price per square foot, it's Midtown
- For 2009, the neighborhood with the highest discount rate off of asking price is Mattapan, following that is the Waterfront, and in fourth is the Back Bay
- There were more than 170 luxury sales with a price per square foot of over $1000 in 2008, but only just over 70 in 2009
I anticipate updating this report every six months to keep it current with the market. So I'm looking for feedback - good, bad, or ugly. Let me know what you think so I can make it better with each new edition!
2000-2009 Boston Condo Market Report
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