How much a condo costs right now in Boston’s priciest neighborhoods
It is now over halfway through 2016, and Boston’s luxury housing market is still on fire.
In a new report, boutique real estate agency Campion & Company looked at condo sales in some of Boston’s most expensive neighborhoods — Back Bay, Beacon Hill, Fenway, Midtown, North End, Seaport, South End, Waterfront, and West End — and found that in the last year the average condo sale price has increased by about $100,000. That’s an 8.7 increase.
At the end of quarter two in 2015, the average condo sale price in these neighborhoods was $1,085,476. Now it is $1,179,515. Campion & Company notes that this is the sixth consecutive year without a decline in average sale prices.
The median price increase was slightly less, with condo prices going from a median of $775,000 last year in the second quarter to $825,000 now. That’s a 6.5 percent increase, the second highest in recent history.
The number of condos sold increased from 581 in 2015 to 618.
The average price per square foot also increased across the areas studied — from $913 to $965 — though a few neighborhoods have seen a drop since the beginning of this year.
According to Campion & Company:
“Two of the neighborhoods included in this study, Seaport and Fenway, did experience slight decreases in average price per square foot since the beginning of the year. In the Seaport, averages are now correcting after the initial closings at Twenty Two Liberty during 4Q 2015 and 1Q 2016 that approximately doubled average price per square foot in the neighborhood.”
Currently, Seaport has the highest price per square foot of the neighborhoods studied, coming in at $1,174, just above Back Bay’s $1,148 average price per square foot.
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