Boston Condo Report: March 2014 in Review

Written by Posted On Thursday, 17 April 2014 06:39

In March, the real estate market in Boston remained strong, as there were a total of 278 condos sold. The condos locations, types, and prices varied greatly between each condo that was sold, and there was a great variety in what buyers were looking for.  The condos ranged from a one-bed one-bath unit in Hyde Park that listed for $80,000 and sold over asking at $88,000, to an 8 room, 4 bedroom 4.5 half bath row house in Beacon Hill that sold for $13,000,000 in just 6 days.  This proves that no matter what you’re looking for, there is truly something for everyone!

The average days on market for the sales in March was approximately 61 days, however 98 of them were sold within 30 days of being placed on the market. This shows that sales have been moving quickly, so buyers should not wait to purchase their dream home! And if you are thinking about putting your condo out on the market, 2014 is a great year to do it!

The average price per square foot sold in Boston Proper was $589 from the condos sold in March, however, because Boston Proper has many different neighborhoods and each are unique, you should check with your real estate agent about the average price per square foot in each particular area of interest. It is important to know the average costs when you are actively buying or selling a condo, but of course, there are many factors that go into the price of a condo, so you cannot solely rely on this number.

Currently, there are 527 condos available for sale in Boston.  These range from a 2 room, one bed one bath Low Rise in Roslindale on the market for $104,900 to a 13 room 4 bedroom two full and two half bath townhouse in Back Bay that is listed for $7,395,000. No matter what you’re looking for, there is a wide range of condos available, and if you are interested in purchasing a condo, it is best to contact your real estate agent sooner than later!

Overall, the city of Boston is a very strong community and area for real estate, and it is a great time to buy or sell your home. If you’re thinking about buying or selling, don’t hesitate to jump right in and contact a trusted mortgage professional to help you apply for and secure a new home loan!

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Jason Bonarrigo

Senior Mortgage Banker, RMS Mortgage NMLS#698459

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