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, 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

 

Look who’s #1 in Jamaica Plain

We are so very excited to announce that we came in as the #1 real estate office in JP for 2016 in both sales volume and number of sides.  A major accomplishment for having opened the office in October of 2013, just three years ago. Congratulations to all.

The news is timely. We are just getting started in building out an adjacent office space where we are adding an additional conference room, team room and additional work areas for associates and team members to use. We’ll keep you posted on plans for our upcoming expansion party.