Boston luxury condo prices were up three percent year-over-year in the first quarter of 2018, with an average citywide condo price of $1.3M and price-per-square foot of $1,100.
The usual array of well-established, popular neighborhoods like Back Bay, Boston Midtown, Boston Waterfront, and Boston Seaport District commanded the largest prices and overbids.
Boston proper condos spent an average of 34 days on the market, though luxury condos in the most central, desirable neighborhoods typically slammed into contract within a week or two—especially if they benefited from unique features like large floor plans, deeded gardens or views.
Almost half of all condo sales in the first quarter closed for $1M or more. A majority of these were two-bedroom properties in downtown Boston The gap between the list and sale price was generally narrow.
The same held true for the luxury condo market, with most properties in the $2M+ range selling slightly at or below list price.
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The video below is the Boston Mayor’s 118 second pitch for Amazon to come to Boston: