With the sales of the end of August 2012 now recorded, we can take a look back and see how this year compared with 2011 for the Fenway neighborhood.
Over the past 3 months (according to data obtained from the Multiple Listing Service) average sale prices for one bedroom condos in the Fenway have increased around 20% year-over-year with the average sale price of $335K in 2012 vs $277K in 2011. The average days-on-market was around 40% better (48 days in 2012 as compared with 77 days in 2011).
In the two bedroom condo market we also saw increases of 6% in the average sales price with the average sale price in 2012 at $419K vs $397K in 2011. In the two bedroom market the list-price to sales-price ratio increased from 89.4% in 2011 to 97.8% in 2012.
The number of sales decreased in the one bedroom market and increased slightly in the two bedroom market. One bedroom sales decreased in the period from 26 in 2011 to 18 in 2012. Two bedroom sales also increased from 9 in 2011 to 13 in 2012.
So how big are these palaces? For one bedroom condos, the average size was 648 sq ft and for two bedroom condos, the average size was 924 sq ft.
It goes without saying that these are averages and each property needs to be looked at individually for specific value.
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Gary Dwyer, Broker / Owner
Buyer Agents of Boston, LLC
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