Caulfield Properties Q2 Condo Market Report
The condo market in Boston shows no signs of slowing down through the second quarter with prices up and the average condo home only spending 20 days on the market. Both median sales price and price per square foot were up from last quarter and when compared year over year. The second-quarter price per square foot was up 2.4% from Q2 2018 and nearly 10% from the first quarter of this year. As more luxury product, like Pier 4 in the Seaport and 232OC in South Boston wraps up construction and closings are finalized these high-end homes will continue to push up the median pricing numbers.
Looking at the total number of listings available across the city we do see a sharp increase from the first part of the year, up from 1246 to 1868 condos, however, compared to 2018 availability is down 24%. And with the average days on market at just 20, there is certainly room for the additional inventory expected to come online later this year and next. The always hot neighborhoods, South Boston, The Seaport, and Beacon Hill saw big jumps in pricing year over year and in this last quarter. With more luxury inventory like EchelonSeaport opening later this year and The Archer under construction now in Beacon Hill, prices should continue to be on the uptick as buyers flock to see top neighborhoods.
For more information on Boston’s busy condo market visit https://www.caulfieldproperties.com/ or contact the experts at The Caulfield Properties Team @ 617-586-0735.
The Caulfield Properties Team is one of the premier real estate advising groups in the entire Boston market. Working with seasoned developers and investors, first time home buyers, and everyone in between, The Caulfield Properties Team provides elite level service and attention to each of their clients.
With experience in all neighborhoods throughout the city of Boston, recent transactions have ranged from $200,000 to $10 million. They provide unparalleled market analyses, pricing strategies, and off-market information which their clients have come to appreciate.
Their unwavering commitment and determination to luxury service over the years have helped build their loyal client base and referrals network. The team’s access to information, particularly in the new development realm is second to none. For sellers, buyers, investors, and developers looking for the best possible advice and information, The Caulfield Properties Team add unmatched value to your consumer experience.Caulfield Properties >>