Boston Back Bay Condominium Market Report Jan 2012. The Back Bay of Boston is one of the nicest places in the city and the condo's are coveted properties. There are 210 properties last month that were Active, Under Agreement, Sold, Expired or Canceled. That is not a large number and so the best ones will always go quickly. The average price is skewing up with the Days on Market skewing down and this is well before the Spring frenzy. The list price to sale price is is a very healthy 97%. All this indicates that the market is turning around in the Back Bay of Boston.
Condominium Active Listings: 151 Avg. Liv.Area SqFt: 1,614.71 Avg. List$: $1,714,290 Avg. List$/SqFt: $947 Avg. DOM: 150.66
Condominium Under Agreement Listings: 17 Avg. Liv.Area SqFt: 1,100.76 Avg. List$: $977,524 Avg. List$/SqFt: $800 Avg. DOM: 125.82
Condominium Sold Listings: 26 Avg. Liv.Area SqFt: 1,147.69 Avg. List$: $975,358 Avg. List$/SqFt: $793 Avg. DOM: 141.73 Avg. Sale$: $948,688 Avg. Sale$/SqFt: $764
As you can see the Expired listing are on the market for a bit too long, probably the agent who is a friend to the seller and has convinced them the market is bad when it is really their marketing is bad, or the price is too high and the seller is at fault for not realizing the value of their condo. Looks like the people canceling their listings are not giving their agent enough time to sell the property in the time it takes today at 142 DOM.
Condominium Expired Listings: 10 Avg. Liv.Area SqFt: 1,346.40 Avg. List$: $1,433,990 Avg. List$/SqFt: $883 Avg. DOM: 174.70
Condominium Canceled Listings: 6 Avg. Liv.Area SqFt: 1,126.83 Avg. List$: $891,500 Avg. List$/SqFt: $772 Avg. DOM: 91.67
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