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Greater Boston Market Trends Fall 2022
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Recently Sold by Engel & Völkers
941 Walnut Street I $1,565,000
2 Gladwalt Rd I $630,000
411 Shawmut Avenue, #5 I $570,000
200 Northampton Street #4 I $460,000
1 Winter Place #PH I $2,680,000
74 Plymouth Rd I $904,000
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
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603 E 6th St, #2 I $1,070,000
86 Marlborough St, #2 I $1,750,000
137 Englewood Ave, #45 I $477,500
1 Dalton Street, #3005 I $5,650,000
88 Hancock St, #4 I $579,000
1 Copperwood Rd I $959,000
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Setting the bar for sophisticated real estate At Engel & Völkers Boston, we embrace our city’s simple ethos — work hard, play hard, treat clients like family. Our advisors work each transaction with the same care and diligence as if they were purchasing or selling themselves.
We’re not just the most successful in the area, we reflect the Engel & Völkers’ culture of teamwork, passion, and expertise. With state-ofthe-art real estate tools and technology, global luxury brand recognition and unrivaled market and marketing dexterity, we deliver concierge class service during the purchase or sale process and beyond. Call on us for your next transaction. Our bold strategies and individual counsel are crafted to impart the information you’ll need to make informed decisions in an increasingly complex real estate marketplace. Engel & Völkers Americas 2022 Q3 in Review: Finishing out the year strong ! 2022 Q3 in Review Video 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Table of Contents
Recently Sold by E&V Introduction Fall Property Spotlight Virtual Marketing Suite Back Bay Beacon Hill Brookline Cambridge Charlestown Jamaica Plain Medford Midtown Newton North End Seaport Somerville South End South Boston Waterfront West End EV by the Numbers Engel & Völkers EDGE Shop and Dine Local Engel & Völkers Cares Meridian Realty Group Reay Pannesi Bio
2-3 4 6-7 8-9 10-11 12 13 14-15 16-17 18 19 20-21 22-23 24-25 26 28-29 30-31 32 33 34-35 36 37 38 39 40-41 42
©2020 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. If your property is currently represented by a real estate broker, this is not an attempt to solicit your listing. Information about any property described was provided solely by seller(s) without verification by the broker(s) therefore broker(s) is/are not responsible for the accuracy of the information contained herein. Buyer should take any and all steps necessary to verify said information. Offerings are subject to prior sale, price change or withdrawal without notice. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act. An Equal Opportunity Employer. Equal Housing Opportunity.
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Fall Property Spotlight 7 Eagles Nest Lane I Boxford
2 Acre Lot I 4 Bedrooms I 2.5 Bathrooms I 2,943 sq ft Incredible Post and Beam historical home on a picturesque Boxford cul-de-sac. Gorgeous 2-acre level lot with stone walls and planting beds is surrounded by expansive newly constructed homes. Gracious fire placed living and formal dining are both highlighted by warm wood flooring, exposed beams and oversized windows allowing for sun splashed living and entertaining spilling onto big rear patio overlooking the lawns. Big eat-in kitchen with breakfast nook and first floor laundry room. Enjoy plenty of cabinet storage with stone-topped workspaces and stainless steel appliances adjacent to sky lit great room with wood burning stove and sliders to deck.
160 Beacon Street, Unit 1I Back Bay
Parlor Duplex I 2 Bedrooms I 2 Bathrooms I 1,500 sq ft Stunning south facing duplex on the River side of Beacon between Berkeley & Clarendon with direct access parking. Grand Beaux Arts brownstone with a majestic lobby opens directly into elegant living and dining spaces offering views of the Back Bay streetscape through oversized windows. Beautiful designer and vintage finishes complement 12’ ceilings with original plaster moldings, ornate fireplace and inspired custom built-ins. Sleek white cabinetry and premium stainless steel define a contemporary chef’s kitchen. Generous bedrooms with excellent storage and marble baths round out the living spaces.
790 E 4th Street, Unit 3 I South Boston
Smartly Designed I 1 Bedroom I 1 Bathroom I 643 sq ft From the substantial crown molding down to the lovely wide pine flooring, this home oozes comfort. You’ll find a fireplace tucked into the corner of the living room. The smartly designed 2019 kitchen renovation spared no expense, starting with the floor to ceiling custom cabinetry, quartz counters and Bosch stainless steel appliances. The bathroom is a sanctuary – it is spacious and boasts upgraded cabinetry, timeless tile choices, designer lighting and soaking tub. This home features 2019 central air conditioning, accent lighting throughout, in-unit Bosch washer and dryer (vented!). The large back yard is common space shared with only two other units. 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
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Fall Property Spotlight 340 Commonwealth Avenue, Unit 2 I Back Bay
Direct Elevator Access I 2 Bedrooms I 2 Bathrooms I 1,215 sq ft Back Bay Beauty on sought after Comm Ave. Enjoy classic detail & clean understated style throughout this generous 2 bed / 2 marble bath floor-thru home. Elevator opens directly to your home where you are greeted by an elegant marble foyer open to a spacious L/R w marble gas FP & mantle, crown moldings, separate DR / den / study both w tall bow windows & remarkable views of the Commonwealth Mall. The newly refinished inlaid hardwood floors are a luxurious touch as well as tray ceilings & details throughout. Prepare meals as a chef in your custom S/S kitchen w plenty of cabinet space & generous granite countertops to enjoy your favorites.
172 Green Street, Unit 5 I Jamaica Plain
Urban Loft I 2 Bedrooms I 2 Bathrooms I 1,215sq ft Incredible one-of-a-kind urban loft living space located in a turn of the century carriage factory. This newly renovated 2 bed and 2 full baths offers all the characteristics of a loft but fully modernized. Tons of natural light with south-facing oversized windows complete with new Shade Store blinds; exposed brick walls and wood beams; and gorgeous wood floors. Open floor plan lends itself to entertaining with a chef’s kitchen equipped with gas cooking, tons of storage, and custom-built granite counter that can serve as a dining area. Spacious primary bedroom and large ensuite bath with double vanity. Enjoy a large second bedroom or home office with brand new guest bath.
41 Dana Street, #5 I Cambridge
Deeded Parking I 3 Bedrooms I 2 Bathrooms I 1,325 sq ft Enjoy sunlit elegance at this Mid-Cambridge 3-bed, 2-bath duplex on a very desirable street. Wide open living and dining with soaring 10 foot ceilings and lots of oversized windows ideal for entertaining with sliders to big fenced yard. Chef’s kitchen with sleek flat-front cabinetry, stone-topped workspaces with stainless appliances and cool breakfast bar. Gallery hall offers a great space to display your art and photos and offers separation from the coveted 1st floor bedroom and full bath. Upper floor offers 2 large bedrooms with great closets, another full bath and in-unit laundry. Warm wood flooring throughout and deeded parking round out this property.
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Engel & Völkers Virtual Marketing Suite
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
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Back Bay Neighborhood Market Trends
Back Bay Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
102
72
$2,363,647
97%
Q3 2022
83
57
$1,488,218
97%
Data per MLSPIN
Back Bay’s rich history and trendy restaurants, shopping and nightlife create a vibrant atmosphere everyone wants to be part of. Our own office is located in the heart of Back Bay and we can attest to the majestic bustle! The number of condos sold decreased 19% year-overyear in the third quarter. The average sales price decreased due to a lack of inventory and overall market conditions. The current median list price for a condo in the Back Bay is $ 2,675,000 with 103 units on the market. 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Back Bay condos Average price per square foot (Q3) 2019 2020 2021 2022
$1,256 $1,215 $1,328 $1,248
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Back Bay Featured Listings
259 Beacon St, #30 I $689,000
160 Beacon St, #1 I $1,950,000
363 Marlborough St, #3 I $1,320,000
340 Commonwealth Ave, #2 I $1,700,000
465 Beacon St, #1 I $949,000
160 Commonwealth Ave, #705 I $1,000,000
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Beacon Hill Neighborhood Market Trends
Beacon Hill Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
51
50
$1,410,136
98%
Q3 2022
30
46
$1,423,453
98%
Data per MLSPIN
Brick row houses with beautiful doors and gaslit cobblestone sidewalks lined with window boxes all add to the charm and mystique that can only be found in Beacon Hill. The number of condos sold dropped 41% year-over-year in the third quarter while average sale price remained steady. Days on market has dropped pointing to a fast moving market and we predict more inventory to come on the market in the coming weeks. The current median list price for a condo in Beacon Hill is $2,900,000 with 49 units currently on the market. 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Beacon Hill condos Average price per square foot (Q3) 2019 2020 2021 2022
$1,133 $1,201 $1,197 $1,194
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Brookline Neighborhood Market Trends
Brookline Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale Price/List Price %
Q3 2021
169
37
$1,012,501
100%
Q3 2022
103
35
$1,063,076
100%
Data per MLSPIN
Brookline offers a rare mix of urban living in an attractive suburban atmosphere. Its variety of restaurants, shopping and iconic cultural institutions backdropped against an acclaimed public school system make it singularly appealing. The number of condos sold dropped 39% year-overyear for the third quarter. The average sales price increased and days on market dropped slightly showing a well paced market. The current median list price for a condo in Brookline is $1,187,500 with 94 active listings. The single family market remains fast moving with low inventory of only 18 homes for sale with a median list price of $3,399,500.
Brookline condos Average price per square foot (Q3) 2019 2020 2021 2022
$709 $734 $727 $782
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Cambridge Neighborhood Market Trends
Cambridge Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
192
38
$989,122
102%
Q3 2022
150
29
$1,082,924
101%
Data per MLSPIN
Cambridge is located directly across the Charles River from Boston. It’s home to world famous universities, highly-rated public schools and an immense civic pride in its vibrant cultural scene. The number of condos sold decreased 22% year-over-year in the third quarter. The average sales price jumped 10% and days on market decreased 24%. Our listings in Cambridge are not lasting long! With students and professionals alike heading back to the Cambridge market, we are sure to see a strong end to the Fall market in your neighborhood. 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Cambridge condos Average price per square foot (Q3) 2019 2020 2021 2022
$831 $835 $874 $888
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Cambridge Featured Listing 41 Dana Street, Unit 5
Enjoy sunlit elegance at this Mid-Cambridge 3-bed, 2-bath duplex on a very desirable street. Wide open living and dining with soaring 10 foot ceilings and lots of oversized windows ideal for entertaining with sliders to big fenced yard. Chef’s kitchen with sleek flat-front cabinetry, stone-topped workspaces with stainless appliances and cool breakfast bar. Gallery hall offers a great space to display your art and photos and offers separation from the coveted 1st floor bedroom and full bath. Upper floor offers 2 large bedrooms with great closets, another full bath and in-unit laundry. Warm wood flooring throughout and deeded parking round out this property. Outside, enjoy the many delights of living mid-way between Harvard and Central Squares. All the dining, shopping and nightlife are at your doorstep just a block from Ringe & Latin and the Library as well as world class universities to feed your mind. Great commuter options by bike, public transit and car along Mass Pike and Route 2.
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Charlestown Neighborhood Market Trends
Charlestown Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q2 2021 Q3 2020
58 79
31 43
$831,234 $803,218
100% 101%
Q2 2022 Q3 2021
145 63
79 25
$853,720 $900,209
101%
Data per MLSPIN
Charlestown is steeped in history with brick townhouses in a waterfront neighborhood that is home to the Bunker Hill Monument, the Navy Yard and endless stories of its colorful past. This quarter, the number of condos sold dipped 20%. The average days on market dropped 42%, yet the average sale price increased 12%. Over the past four years the “price per square foot” has remained very steady. We recently listed and sold a fabulous single family in your neighborhood for top price- call for more information! 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Charlestown condos Average price per square foot (Q3) 2019
$750
2019 2020
$726$764
2021
$764
2021 2022
$765 $819
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Charlestown Featured Listing 52 Sullivan Street, Unit 2
Style and sophistication sets this home apart from most Charlestown properties. Built in mid1800s, this brick Mansard House stands out from the typical wood dwellings. A spacious 2 bed / 1.5 bath unit with gorgeous historic features throughout like soaring ceilings, marble fireplaces, oversized windows with plantation shutters, wide plank floors, original crown molding and a distinctive curved corner room. Enter this sun-drenched, second floor corner unit and be wowed by its expansive living/dining room with a beautiful and unique bay window. Enjoy entertaining in its renovated chef’s kitchen with large island or outside in a shared common patio. Large primary bedroom with en-suite bath, abundance of storage space including a walk-in closet and w/d. Great location and pet-friendly building complete this stunning property!
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Jamaica Plain Neighborhood Market Trends
Jamaica Plain Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
146
26
$725,659
103%
Q3 2022
89
21
$758,338
103%
Data per MLSPIN
Jamaica Plain is a beloved neighborhood intensely proud of its diverse population and politics with serene green spaces around Jamaica Pond and through the vast Arnold Arboretum and Franklin Park. The number of condos sold decreased 39% year-over-year for the third quarter. Days on market has dropped, as the pace of the market picks up. The average sales price has increased 5% - all signs of a strong end to the fall market ahead! Over the past four years the “price per square foot” has remained very steady.
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Jamaica Plain condos Average price per square foot (Q3) 2019 2020 2021 2022
$545 $570 $596 $609
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Medford Neighborhood Market Trends
Medford Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
74
32
$638,366
102%
Q3 2022
65
31
$696,096
102%
Data per MLSPIN
Medford is one of Boston’s best kept secrets. It’s just minutes from downtown Boston, filled with fabulous restaurants, shops and bars, plus easy access to public transportation - who knew?! The number of condos sold decreased 12% while days on market remained steady in the third quarter. Selling prices are still going over their list price and with an increase of the average sales price of 9%, the market is certainly showing signs of a strong quarter ahead. Over the past four years the “price per square foot” has remained steady with a slight jump in 2022.
Medford condos Average price per square foot (Q3) 2019 2020 2021 2022
$440 $453 $506 $509
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Midtown Neighborhood Market Trends
Midtown Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
28
171
$1,297,786
96%
Q3 2022
13
123
$1,703,346
98%
Data per MLSPIN
Boston’s Midtown is centrally located near Boston Common and driven in part by the many full-service buildings. The average sales price jumped 31% with a median list price currently at $2,295,000 and 61 units on the market for sale. Number of listings sold and days on market both decreased. The full service market in the Midtown neighborhood is certainly coming back. Keep an eye out for more information on Midtown’s newest development, The Residences at Winthrop Center.
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Midtown condos Average price per square foot (Q3) 2019 2020 2021 2022
$1,243 $1,055 $1,069 $1,192
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1 Franklin St, Unit 1205 Midtown
Move in and see why Millennium Tower Boston is the evolution of luxury residential living! Enjoy the expansive views of the heart of Downtown and beyond from its floor-to-ceiling windows in every room of your city home. Beautiful 2BR/2BA unit with wide-plank Ivory Oak Hardwood Floors throughout and upgraded Gas Fireplace, Poggenpohl kitchen and bath cabinetry, Sub-Zero, Bosch and Thermador appliances with gas cooking, Wine Fridge, In-Unit Laundry and travertine baths, California closets. 1 Valet PARKING SPACE Included! Residents will enjoy 5-star services, doorman, 24-hour concierge, plus access to an exclusive two-story Club with dramatic owner’s lounge offering private dining and bar, screening room, billiard parlor, library, private function room, outdoor terrace, children’s playroom, 75foot lap pool & sauna. Walk to Roche Bros., gourmet grocery, theaters, restaurants, Boston Commons, Waterfront, etc.
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Newton Neighborhood Market Trends
Newton Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
202
28
$1,771,939
102%
Q3 2022
168
32
$2,086,084
101%
Data per MLSPIN
Newton is located just seven miles West of downtown Boston and built around 13 distinct village centers - each with its own character. It’s also home to one of our shops at 77 Union St. in Newton Centrestop by and visit us anytime! With a strong push to move to the suburbs, the number of single family homes dipped 17% year-over-year for the third quarter with lack of inventory still being an issue. In addition, the average sales price of a home increased 18% and is consistently going over the list price. If you have ever considered selling your home in Newton, now is the time! 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Newton Single Family Average price per square foot (Q3) 2019 2020 2021 2022
$473 $491 $534 $571
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Newton I SOLD Properties Recently Sold in Newton
941 Walnut St I $1,565,000
41 Wessex Rd I $1,070,000
30 Plainfield St I $2,200,000
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North End Neighborhood Market Trends
North End Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
26
54
$656,558
99%
Q3 2022
27
44
$923,848
98%
Data per MLSPIN
The North End is one of Boston’s most historic neighborhoods, famous for its iconic streets and historic figures, architecture and amazing culture and restaurants. The number of listings sold remained steady. The average sale price increased drastically by 41% year-overyear in the third quarter. We’re excited to announce our fourth Engel & Völkers location at 345 Hanover Street is officially open- stop by anytime! We are sure to have some great coffee and pastries on hand at all times.
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
North End condos Average price per square foot (Q3) 2019 2020 2021 2022
$897 $908 $940 $1,027
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23 Fleet St, Unit 5 North End
Sunny front-facing unit in the coveted North End with the iconic bustle of Hanover Street and the quiet of Boston’s Waterfront at your doorstep! High ceilings and warm bamboo flooring enhance a great open layout creating spaces for everything. The 2017 renovation included kitchen, electrical and multiple design upgrades. Great chef’s kitchen with shaker-style maple cabinetry and a granite breakfast bar and fabulous designer tiling and fixtures in the bath as of four years ago. Stable association offers common laundry and private deeded storage. Building is non-smoking and pet friendly with easy access to the airport and points around town on Green/Orange/Red and Blue lines. We don’t have space to fully extoll the joys of the food, culture and indoor and outdoor recreation both in the North End neighborhood and surrounding downtown Boston neighborhoods 56 Prince St, Unit 8 I North End Under Agreement Great two bedroom on an iconic North End street, perfect for first time homebuyers, investor or piedà-terre! Open living and dining with great light, leafy courtyard views and warm hardwood floors. Sweet kitchen with plenty of cabinet storage and stainless stove, fridge, dishwasher. Both bedrooms are nicely sized with good closets and nice light. Be at the heart of it all in a celebrated Boston neighborhood. Excellent access to all the dining, shopping, history and charm for which the North End is famous the world over. Easy commuter options in and out of the city by public or private transport.
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Seaport District Neighborhood Market Trends
Seaport District Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
58
58
$2,337,122
99%
Q3 2022
14
71
$1,460,164
99%
Data per MLSPIN
The Seaport District is Boston’s newest neighborhood with an influx of vibrant Seaport condos luxury buildings. The number of condos Average price per square foot (Q3) sold dropped off significantly by 76% 20 year-over-year in the third quarter. The 2019 $1,763 average sale price decreased due to no new recent developments being sold 2020 $1,618 and closed in this quarter. Many units $1,675 in these luxury buildings are selling, 2021 continuing to drive activity in the 2022 $1,338 neighborhood. The St Regis, joining the neighborhood Winter 2022, will be a wonderful luxurious addition!
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
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Somerville Neighborhood Market Trends
Somerville Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
181
29
$899,106
102%
Q3 2022
156
33
$852,471
102%
Data per MLSPIN
Somerville offers its proud residents an urban/suburban feel with proximity to downtown Boston and many bars, restaurants, coffee shops and parks. The number of condos sold decreased 14% year-over-year for the third quarter. Days on market increased slightly and the average sale price decreased 5%. Somerville continues to be a highly sought after neighborhood. Over the past four years the “price per square foot” has been steadily increasing. 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Somerville condos Average price per square foot (Q3) 2019 2020 2021 2022
$639 $637 $678 $725
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Somerville Featured Property 255 Beacon Street, Unit 4D
Developer’s duplex unit with elevator and 2 garage parking. Endless layout choices with a coveted first level primary bedroom and plumbing for 2 separate units if you like. Spectacular sun-drenched living and dining is great for entertaining with sliders open to a private deck. Galley kitchen with a nice view and lots of sleek white cabinetry for storage and gas cooking. Open, airy primary bedroom has big ensuite bath and excellent walk-in closet. Upper level reveals cathedral style ceilings and several skylights. Massive family room and 3rd bedroom with en-suite bath and access to huge roof deck round out the upper floor. Sited in what is widely considered one of Somerville’s best neighborhoods offering up all the culture, dining and shopping for which it’s so beloved. Easy access to Boston, Cambridge and beyond with great commuter options by public transit or car. Too many lifestyle options to list – see it to believe it!
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South End Neighborhood Market Trends
South End Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
144
40
$1,133,659
100%
Q3 2022
137
36
$1,221,974
100%
Data per MLSPIN
The South End is one of the most beloved and popular neighborhoods in the City. It’s iconic brick rowhouses were the first in the nation; add a rich social, shopping and dining scene and it’s no wonder there are so many “lifers!” The number of condos sold year-over-year for the third quarter decreased slightly. The average sales price increased 8%. The ratio of sale to list price (this is the amount buyers can expect to pay) remained the same. In the third quarter of 2022 the average price per square foot increased 9%. There are currently 113 condos on the market with a median list price of $1,450,000. 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
South End condos Average price per square foot (Q3) 2019
$1,049
2020
$1,037
2021 2022
$1,034 $1,122
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South End Featured Property Under Agreement for Top Price!
Gorgeous Penthouse Duplex housed in Brick Bowfront on one of the most coveted South End streets. Past a charming front garden and up a lovely curved stair lies sunlit living with leafy streetscape views through oversized windows and warm wood floors crowned by private roofdeck and panoramic skyline views. Open living and dining spaces with thoughtful built-ins and a gas fire are perfect for entertaining and lounging. An exceptional chef’s kitchen offers custom lit and shaker-style cabinetry, granitetopped workspaces and breakfast bar with a wine fridge and full complement of premium Viking appliances. Both bedrooms have lovely views and en-suite baths outfitted with sleek marble/glass tile. Appleton is quaint, tree-lined and most notable for its proximity to Back Bay, Bay Village and the dining, shopping and culture that creates Southenders for life. Glorious roofdeck and recreation draws you outdoors with easy commutes by bike or car. Enjoy your perfect blend of charming and urbane!
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South Boston Neighborhood Market Trends
South Boston Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
210
45
$844,905
100%
Q3 2022
142
33
$846,958
99%
Data per MLSPIN
South Boston is a neighborhood on the move, home to many young professionals and families drawn to the vibrant community and convenient location. The number of condos sold decreased 32% year-over-year for the third quarter. The average sale price increased. With the increase of activity in the neighborhood, the days on market has decreased indicating a fast paced market. Come visit us at our South Boston location anytime- 493 East Broadway! 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
South Boston condos Average price per square foot (Q3) 2019 2020 2021 2022
$748 $751 $806 $795
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Boston’s Waterfront Neighborhood Market Trends
Waterfront Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
44
77
$1,621,966
97%
Q3 2022
30
56
$1,482,033
96%
Data per MLSPIN
Boston’s Waterfront, beyond it’s salty air and glorious views, has a rich history as well. It’s home to many full service buildings, the Harborwalk, and New England Aquarium. The number of condos sold decreased 32% year-over-year for the third quarter. The ratio of sale to list price decreased and the average days on market decreased 27%. The average price per square foot has remained consistent. With 14 units currently under agreement in the Waterfront and 40 for sale, the market is in full swing.
Waterfront condos Average price per square foot (Q3) 2019
$1,027
2020
$995
2021 2022
$1,093 $1,071
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West End Neighborhood Market Trends
West End Neighborhood Statistics Listings Sold
Days on Market
Average Sale Price
Sale to List Price Ratio
Q3 2021
11
53
$578,407
99%
Q3 2022
4
44
$574,688
96%
Data per MLSPIN
The West End, with its glorious Charles River views and iconic Zakim bridge, sits adjacent to the famed Beacon Hill and has many luxury high-rises. It’s also conveniently located near Mass General Hospital, TD Garden (home of the World Champion Boston Celtics and Bruins) and the Museum of Science. The number of listings sold decreased but interest remains strong. If you have ever considered selling, now is the time! There are currently 15 condos on the market with a median list price of $508,950 and 2 under agreement.
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
West End condos Average price per square foot (Q3) 2019
$664
2020
$636
2021
$642
2022
$674
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West End Featured Property 6 Whittier Place, Unit 16L
Investors! Fantastic city views from your private balcony with views of the Charles River and Zakim Bridge from this large studio condo. This home has room for a queen bed, dining table, chairs, couch, desk, and has an abundance of closet space. High-end designer renovations of interior common areas completed in 2019 include marble lobby, hallways, elevators, unit doors, and lighting. Professionally managed association with 24/7 concierge and onsite management. Landscaped common courtyard. Adjacent to condo are the Clubs at Charles River Park with indoor/outdoor swimming pools and work out facilities. Easy walk to MGH, MEEI, Whole Foods, Beacon Hill, Back Bay, North End, and Financial District. Steps to Esplanade’s walking and bike trails, and MBTA green and red lines.
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are rooted in data and research for optimal results
in Hamburg, Germany that supports our shops
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and advisors worldwide. This support adds to the
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maximum exposure of the property alongside
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and international resources and reach through its
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your property in the best light.
campaigns for each property we market.
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
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The world deserves to see it. You deserve to sell it. Smart marketing. Extensive exposure.
Giving you the EDGE. Global reach with boutique style is what you can expect when working with an Engel & Völkers advisor here and around the world. Providing unprecedented reach of your property, Engel & Völkers offers the exclusive EDGE (Extensive Domestic & Global Exposure) platform designed to maximize online exposure of your listing to qualified buyers worldwide via a suite of highly trusted and strategic online and mobile marketing partners. But we don’t stop there. With a global network of more than 11,000 real estate professionals in more than 30 countries, we not only reach millions of consumers, but are able to collaborate with our fellow Engel & Völkers advisors to strategically handpick and refer buyers for the specific properties they seek … like yours. Let us provide the EDGE you need to sell your home and begin your next adventure.
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Support our Local Restaurants and Businesses Blue Ribbon Sushi 500A Commonwealth Ave, Boston 02215 Pristine, quality ingredients & attention to every detail define the Blue Ribbon Experience. Blue Ribbon Sushi is the creation of Master Sushi Chef, Toshi Ueki, in collaboration with Chefs Eric and Bruce Bromberg. Blue Ribbon Sushi embodies Toshi-San’s spirit of individuality by offering a truly authentic dining experience. Inspired by their surroundings, their restaurants are modern neighborhood restaurants with no boundaries. Little Whale Oyster Bar 314 Newbury St, Boston 02115 Little Whale Oyster Bar is the third seafood concept from Chef Michael Serpa and his team at Serpa Hospitality. It’s an upscale ode to clam shacks, emphasizing traditional New England seafood like fried clams and oysters, clam chowder, and lobster rolls, cold or warm, complemented by a drink list focused on light, crisp, seafood-friendly wines. And since it has a patio, this is a good spot to catch the diminishing sunshine. Wards Berry Farm 614 South Main St, Sharon 02067 Family farm owned by brothers Jim & Bob Ward who have run the farm since 1982, offering the finest quality fresh picked fruits and veggies. Their mother, Ann uses family favorite recipes to create her famous fruit jams and jellies, as well as the fresh cookies, muffins, breads and pies. We have picnic areas, children’s play areas, farm activities, a fresh farm store and pick your own options. For Thanksgiving, we offer fresh native turkeys! Mei Mei Coming soon to South Boston If you’ve been craving dumplings, a renowned eatery will be reopening at a new S. Boston loc—and you will be able to see how the food gets made while you’re there. Mei Mei will open a new dumpling factory, cafe, and classroom in Jan 2023. The dumpling spot will be loc in S. Boston at the Iron Works building. On the cafe menu, there will be lemongrass pork dumplings, cheddar scallion potato dumplings, and seasonal vegan dumpling. 46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
Special Olympics
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Engel & Völkers is a proud champion of Special
Engel & Völkers Cares brokerages and together across time zones
Olympics, specifically focused on creating more
borders—it’s a common good that unites us. Every
inclusive communities through its Athlete Leadership
hour given, every dollar donated, every kind word
and Play Unified programs. We are committed to
spoken and every door opened creates opportunities
Engel & Völkers Cares
Special Olympics
giving back to and investing in the neighborhoods
for those who need it most. We believe that in order
Engel & Völkers is a proud champion of Special
brokerages and together across time zones and
in whichinclusive we live,communities we play and we raise our Leadership families. through its Athlete
hour given, every dollar donated, every kind word
our clients desirespecifically because these the places Olympics, focusedtoo on are creating more and Play Unified programs. We are committed to back to and investing in the neighborhoods Special giving Olympics athletes contribute to our story. our clients desire because these too are the places
From them we learn, we think differently and realize
to lead, we must empower to Every do the same. borders—it’s a common good that others unites us. spoken every opened creates opportunities Ask and how ourdoor shop specifically contributes to this for those who need it most. We believe that in order
amazing cause.
to lead, we must empower others to do the same.
in which we live, we play and we raise our families.
what we can accomplish as individuals, as local Special Olympics athletes contribute to our story. From them we learn, we think differently and realize what we can accomplish as individuals, as local
and
Ask how our shop specifically contributes to this amazing cause.
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Meridian Realty Group Full Service Property Management Selling pretty properties isn’t our only goal. Keeping them pretty is part of our service.
24/7 Full Service Property Management Division
As part of Engel & Völkers’ service, we offer 24/7, full service property management through our sister company, Meridian Realty Group (MRG). Meridian offers wide ranging resources providing hands-on management for owners, investors, residents and their properties. We specialize in associations from three to 100+ units. State-of-the-art management and property accounting systems are in place to electronically pay condo fees, submit work orders, track rental activity for multi-family owners, and provide online access to building documents and monthly financials. We work closely with associations, condominium boards, and single and multi-family owners to establish and implement policies that will enhance quality and property values. Meridian Realty Group utilizes a unique team approach providing comprehensive residential and multi-family property management services. Our senior principals have over 100 years of combined experience in property management; creating programs and services tailored for each individual client. Email us today for a free on-site consultation at info@mrgproperty.com
46 Gloucester Street • Boston, MA • 02115 boston.evrealestate.com 617-936-4194
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Condo Maintenance Guide Preventive maintenance is the regular inspection and repair of equipment and facilities to prevent extensive, costly damage from occurring over time. Preventive maintenance can go a long way toward reducing the overall cost of your condominiums, as large expenditures for repairs and replacements can often be avoided by a careful attention to detail. Following a thorough condominium preventive maintenance checklist can help you to increase the attractiveness of your property. Landscaping Landscaping not only adds value, but can increase the enjoyment of your home. Whether it be in the common or private areas of your association, picking the right plantings and materials is important to maximize enjoyment for all. Building Overview Now is a great time to make your front entrance welcoming. Whether it is a fresh coat of paint or a new set of planters, it’s the small inexpensive things that can make a world of difference. Don’t forget to review your vendors from last year. Were you happy with the snow removal, leak repairs, heating, management company responsiveness, etc.? If not, make a couple of calls to see who else might better fit your needs. Inspections Perform regular inspections on all equipment and facilities that are subject to damage or normal wear and tear. Inspect such things as roofs, insulation, ventilation systems and appliances to ensure that they are operating safely and efficiently. Cleaning Stick to a regular cleaning schedule for fixtures such as air ducts and exterior siding to ensure that dirt, mildew and other buildup does not cause any damage. Clean and replace filters in heating and air conditioning units, as well as appliances such as washing machines and dryers, to prevent fire damage. New or cleaned filters also help to keep electricity costs down, as the appliances can operate more efficiently with an unrestricted flow of air. Pest Control Bring pest control specialists into your condominiums at least once per year. Common pests can increase their populations rapidly and can quickly infest an entire property, causing extensive damage to interiors and electrical infrastructure. Act proactively to ensure that pests do not gain a foothold in your properties, and respond quickly to any pest complaints. Testing Test emergency equipment such as sprinkler systems, smoke alarms and fire extinguishers to ensure that they remain in working order. Properly maintained safety equipment can prevent a small mishap from becoming a major disaster. Fire escapes need to be certified every 5 years per the Commonwealth of Massachusetts. Elevators need state inspections on a scheduled basis. Sealants Reapply all sealants before a problem occurs. Sealants on steps, decks, bricks, exterior paint and window caulking can corrode over time, exposing your property to the risk of internal damage. Keeping on top of these items not only helps to keep your structure strong, it can also cut down on energy, assessments, and repair bills in the future.
CRAFTING BESPOKE HOMEBUYING EXPERIENCES IN BOSTON.
WE ARE ENGEL & VÖLKERS.
Reay’s exceptional knowledge of Boston’s neighborhoods derives from her previous public sector real estate experience with the City of Boston. With a passion for architecture and design as well as previous experience in banking, Reay will work diligently and enthusiastically to market your property, find you the perfect place to call home, or locate a lucrative investment property to add to your portfolio. With contacts in government, business and the non-profit sector, she knows how to navigate the constantly shifting real estate market and can ensure that your sale or project moves smoothly to completion. Reay is a long time resident of Boston’s North End and graduated from Wellesley College with a B.A. in English.
Reay Panessi - Engel & Völkers Boston Real Estate Advisor 46 Gloucester Street Boston, MA 02115 Mobile: 617-388-6125 reay.pannesi@evrealestate.com
©2019 Engel & Völkers. All rights reserved. Each brokerage independently owned and operated. Engel & Völkers and its independent License Partners are Equal Opportunity Employers and fully support the principles of the Fair Housing Act.
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VISIT US ONLINE OR AT ONE OF OUR SHOPS Engel & Völkers Engel & Völkers Engel & Völkers Engel & Völkers Back Bay North End/ Waterfront Newton S. Boston/ Seaport 46 Gloucester Street 345 Hanover Street 77 Union Street 493 E. Broadway Boston, MA 02115 Boston, MA 02113 Newton, MA 02459 Boston, MA 02127
617-936-4194
617-936-4194 857-297-2000 617-294-1103