Condo Comparison May 2017

“BOSTON – The number of homes and condos sold in Greater Boston slipped a bit in April,” said Timothy Warren, CEO of The Warren Group. “But that is due to the fact that April last year was a gangbuster month with homes rocketing up 35.3 percent and condos gaining 18.7%. These benchmarks were too hard to match.”
Despite record-setting condo prices, sales dipped from April 2016 when there were 1,705 sold in April 2017 compared to 1,724 last year – a decline of 1.1 percent. Median condo prices rose by 3.4 percent, hitting $331,500 – the highest on record for April.  Warren Report, May 23, 2017.

Cambridge Condos End of May 2017 
Condos sold: 74 | Avg. SF: $764
Median Sale Price: $770,750 | Sale price to Original: 108.2%Cambridge Condos End of May 2016
Condos sold: 62 | Avg. SF: $756
Median Sale Price: $695,250 | Sale price to Original: 106.5%

Somerville Condos End of May 2017
Condos sold: 34 | Avg. SF: $565
Median Sale Price: $746,500 | Sale price to Original: 103.6%

Somerville Condos End of May 2016
Condos sold: 59 | Avg. SF: $593
Median Sale Price: $583,000 | Sale price to Original: 106.5%

JP Condos End of May 2017
Condos sold: 32 | Avg. SF: $509
Median Sale Price: $575,000 | Sale price to Original: 103.7%

JP Condos End of May 2016
Condos sold: 35 | Avg. SF: $499
Median Sale Price: $570,000 | Sale price to Original: 102.3%

Roslindale Condos End of May 2017
Condos sold: 9 | Avg. SF: $396
Median Sale Price: $450,000 | Sale price to Original: 110.4%

Roslindale Condos End of May 2016
Condos sold: 21 | Avg. SF: $366
Median Sale Price: $405,000 | Sale price to Original: 102.6%

All the best,
Paul

Condo Comparison, March 2017

I’m happy to say we’re enjoying an overall 58% increase in volume so far this year.  Great news given the challenges of such extremely low inventory.  In looking at the bigger Greater Boston picture, 455 condos sold in February, it was the ninth-most active February on record in Greater Boston. This represents a 3.8% decline in sales volume from the 473 condos sold at the same time last year and is slightly below the historical monthly sales average of 467.  This is also the third consecutive month that condo sales have dropped on a monthly basis.  On an annual basis, the median sales price rose 14.7% from $499,000 to a February record of $515,000.

Celebrating Success

A few highlights from our Celebrating Success event at Tony C’s

Condo Comparison, Feb 2017

Hard to believe that we’re nearing the end the 1st quarter with lower inventories than ever before.  Being an optimist and given the current numbers there is only one way from here and that’s up.  Looking forward to a crazy spring market with a few surprises as the market slowly shifts.

JP vs Roslindale