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: Beacon Hill
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. …
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 …
