Wasn’t it just a few weeks ago that the large firms were lecturing home buyers on “how to win a bidding war?” And what suddenly happened to the shortage of housing that we’ve heard so much about? …
Category: Back Bay
Of the 11 condominium units listed in MLS at or above $10 million, many are seeking record high prices. We don’t see them as record nice properties. More importantly, we see meaningfully more attractive properties at substantially lower prices. …
New construction sales in boutique Back Bay buildings often leave us scratching our heads. Buyers routinely pay substantial premiums over the prevailing market, with $3,000+/sf now commonplace. In our commentary, we often ask – how will the market receive those overpriced units when they come up for resale? A look at what’s going on with unit 2 at 305 Commonwealth Avenue gives us some insight. …
In our mid-year review (see here), we highlighted three high-profile new developments that will be ready for delivery in late this year and early 2023. The St. Regis (Seaport – 114 units), Winthrop Center (Downtown – 314 units), and Raffles (Back Bay – 146 units). Collectively, there are about 574 brand spanking new units hitting the market all at once – or what we refer to as “The 600” (yes, we’re rounding up). …
Condominium fees are a fact of life in the downtown market. Like everything else, you get what you pay for – or do you? …
As we close out the first half of 2022, the Batterymarch Back Bay Index© (BBBI) registered a year-to-date price gain of 8.9% on a 31% decline in transaction volume. This compares to a modest 2.6% price gain on a 24% increase in transaction volume for calendar year 2021. For more on the BBBI and our methodology see here. …
Good views are universally at the top of most buyers’ wish lists. Views are especially important with high-end urban property. Everyone wants to look out over something pleasant - water, distant skyline, or green space. If you’ve got good views, chances are pretty good that you’ll also get good natural “light and air,” critical components of luxury property. Views shouldn’t be taken for granted, and with all of the construction projects in the City, many people are learning this lesson …
