Beacon Hill Condo Sales Statistics for 2009
March 31st, 2009 by nwarren
Beacon Hill condos have been a popular choice for Boston residents for many years. Many of the original Beacon Hill buildings were built over 200 years ago and were home to some of Boston’s most famous residents. Even today you find many of our local celebrities making Beacon Hill their home such as John Kerry who lives on Louisburg Square with his wife Teresa Heinz.
Many of our clients ask us about how the market is doing in Boston and my answer to them is “What neighborhood do you want to know about?” because each neighborhood is so different in the demand. Beacon Hill has consistently been one of the top drawing neighborhoods in Boston for it’s proximity to fantastic restaurants such as La La Rokh and the famous Paramount as well as it’s charm and beauty of the cobblestone streets.
I figured since today is the end of the first quarter of 2009 I’d pull some stats and see how Beacon Hill is fairing in this economy:
Condo Sales Figures from 1/1/2009 – 3/31/2009
Lowest Price: $157,000 (21 Beacon Street Unit 3k – 262 square foot Beacon Hill Studio)
Highest Price: $1,445,000 (108 Mt. Vernon Unit 1 – 1626 square foot Beacon Hill 3 Bedroom/3 Bathroom)
Median Price: $530,000
Average Price: $578,838
Total Market Volume: $9,840,250
Condo Sales Figures from 1/1/2008 – 3/31/2008
Lowest Price: $185,000 (36 Joy Street Unit 1/8 – 234 square foot Beacon Hill Studio)
Highest Price: $2,700,000 (87 Pinckney St. Unit 1 – 2440 square foot Beacon Hill 2 Bedroom/2.5 Bath)
Median Price: $440,000
Average Price: $635,448
Total Market Volume: $18,428,000
My Thoughts: As expected volume is down big time, almost 50%! I’m not surprised since the first quarter of this year has been turbulent to say the least in regards to the economy. Do I expect an uptick for the Spring market? Based on my personal observation of web traffic, open house traffic and my clients reactions, yes. But honestly, your guess is as good as mine. All I can say is rates are low, most sellers are realizing the market we are in and negotiating somewhat, and if you can qualify for a mortgage then you are in a good position to take advantage of the market.
On another note, congrats to Will Montero of the Warren Residential Group Newbury Street office for putting listing at 33 Myrtle Street in Beacon Hill under agreement in only 12 days. Will is representing both the seller and the buyer in this transaction.
Tags: Beacon Hill 2009, Beacon Hill Boston, Beacon Hill Boston Condo, Beacon Hill Condo, Beacon Hill Real Estate, Beacon Hill Sales
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on Tuesday, March 31st, 2009 at 4:52 pm and is filed under Beacon Hill, Boston Real Estate Market.
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