In the neighborhoods covered by Boston Homes, 1,074 units were sold during April, May and June - a 19 percent jump from the 906 homes sold during the same period in 2017.
The second quarter was a hot one in the Boston condo real estate market. As recently reported in Boston Homes, both the number of sales and the average selling price of condominiums in the city rose significantly during the second quarter of this year compared to the same time last year, according to LINK.
In the neighborhoods covered by Boston Homes, 1,074 units were sold during April, May and June - a 19 percent jump from the 906 homes sold during the same period in 2017. The average selling price increased 12 percent, going from $1,104,782 during the spring of last year to $1,236,953 this year.
The median selling price climbed 12 percent from $770,000 last year to $882,500 in the second quarter this year.
According to LINK, the median price per square foot reached a new city record of $982, surpassing the old high mark of $975 set in the third quarter of 2016. By comparison, last year’s median per square foot reached $875 in the second quarter.
One of the factors driving up prices is the significant lack of inventory to meet the great demand.
The number of sales and the median selling price mushroomed in almost every neighborhood covered by Boston Homes. The only neighborhood not to see an upturn in the median price per square foot was the West End.
This week, we look at the top selling condos during the second quarter in each neighborhood covered by Boston Homes, which include Back Bay – Midtown; Beacon Hill – West End; Charlestown – Navy Yard; Dorchester; Downtown – Fort Point – Leather District – Seaport; East Boston; Fenway; Jamaica Plain; South Boston; South End – Bay Village; and the Waterfront – North End – Financial District.
The most expensive home sold in the city during that period was Penthouse 1B at 50 Liberty, a new residential condominium development on Fan Pier in the Seaport District. This gorgeous home on the 13th floor sold for $11,200,000 on May 31. Three bedrooms and four-and-a-half baths are intermingled in 3,619 square feet of pure luxurious living.
Designed by the acclaimed Elkus Manfredi Architects, 50 Liberty’s breathtaking floor-to-ceiling window design reflects its intimate relationship with both water and sky.
The second quarter in the Back Bay saw a lot of activity despite the shortage of inventory. Although sales fell nine percent to 116 condos sold, the median price rose 12 percent to $1,100,000 and the average price per square foot reached a record $1,241. The Back Bay continues to be one of the most popular and in-demand neighborhoods in the city.
The second highest sale in the city (excluding 50 Liberty homes) was PH 1801 at Trinity Place, 1 Huntington Ave.. This was the biggest sale for Back Bay during the second quarter. This magnificent five-bedroom, six-bathroom, 4,298-square-home on the 18th floor sold on May 23 for $8,000,000. Trinity Place is an ultra-luxury full service concierge building in Copley Square with some of the best views in the city.
The formal entry with marble floors opens to a spacious sophisticated living room with a private terrace facing Trinity Church, the Gardens and Back Bay, an elegant dining room, and a gorgeous kitchen with a dining/breakfast area.
The plush master suite with a separate private home-office faces the Charles River where views of colorful sunsets and graceful sailboats are plentiful.
Priority seating at one of the best gourmet Italian restaurants – Sorellina – and a residents-only fitness center with massage room are among the on-site amenities.
This penthouse was listed and sold by Beth Dickerson of Gibson Sotheby’s International Realty.
Another premiere sale transpired at the Four Seasons, 220 Boylston St., also in Back Bay.
Unit 1111 sold on June 22 for $7,945,000.
This one-of-a kind home offers 3,050 square feet of prime real estate with a vibrant panorama backdrop of the Public Garden, Boston Common, the State House and beyond. This corner unit, comprised of two-plus bedrooms, three full and one half bathrooms, expansive living, dining and entertainment areas, and an additional second kitchen, boasts exquisite marble floors, fireplace, wet bar, granite kitchen, abundant built-ins and massive walk-in custom closets.
The new residents will enjoy top notch full service amenities and services provided by the Four Seasons Hotel including room service, a fitness center with indoor pool and spa, 24-hour concierge and doorman, two self/valet parking spaces and a storage bin.
The listing agent was George Jedlin of Douglas Elliman Real Estate and the buyer’s agent was Debra Sordillo of Coldwell Banker Residential Brokerage-Boston-Commonwealth Avenue.
Beacon Hill – West End
Maison Vernon’s Unit 11 at 39-41 Mount Vernon St. in the Beacon Hill – West End area sold on April 6 for $5,412,500.
Maison Vernon is an impeccably designed sumptuous residential building with seven new condos that epitomize harmony and balance, while successfully preserving the rich heritage of the area.
These exclusive homes boast the finest materials and craftsmanship, including hand-carved Italian marble fireplace mantles, imported French oak chevron herringbone floors, handcrafted French-inspired plaster moldings and imported Italian kitchens.
A perfect fusion of well-crafted modern European interiors with incomparable grand American architecture, Unit 11 encompasses 2,840 square feet of dazzling living space, including three bedrooms, three full bathrooms and a powder room.
This home was listed by Beth Dickerson of Gibson Sotheby’s International Realty and was purchased with Zur Attias of the Attias Group, LLC.
Stats confirm that Beacon Hill continues to be another extremely popular neighborhood. Sales in the second quarter rose 12 percent with 64 units sold. While the median price descended 15 percent to $837,500, the median price per square foot rose 11 percent to $1,182.
Charlestown – Navy Yard
The second quarter saw four new records in this neighborhood. The median selling price reached a new height of $731,500 and sales volume soared to $98,313,042 – a 12 percent increase from the previous record set in the third quarter of 2013 at $87,938,270. While the median price per square foot is now a record $745, a new neighborhood record for average price per square foot is set at $743.
The top sale in Charlestown – Navy Yard was Unit 2 at 47 Chestnut St. that sold for $1,795,000 on May 21.
Originally built in 1860, this 2,155-square-foot penthouse duplex home, located on a tree-lined street, was completely and skillfully renovated and has breathtaking skyline and harbor views from the spectacular private roof deck.
This ultra-luxurious home offers majestic front-to-back living. The kitchen is a chef’s dream come true with Jenn-Air professional appliances, including a six-burner range with pro stainless hood. There are also Classique Quartz countertops and a waterfall peninsula, Seashell upper cupboards and Gunmetal Blue lower cabinets.
Additional elements include an ornate period Carrara marble gas fireplace, triple cornice moldings and stunning finishes. Accompanying the three spacious bedrooms are three-and-a-half designer spa bathrooms featuring a combination of Italian porcelain and natural stone mosaics.
The listing agent was Frank Celeste and it was purchased with Nancy Roth – both of Gibson Sotheby’s International Realty.
Dorchester also entertained an illustrious second quarter. 182 homes were sold, compared to 128 a year ago. The median selling price rose to $480,000 from $420,000 during the same time last year.
The paramount sale for April, May and June was Unit 8 at 7 Baker Ct., just steps away from the revitalized South Bay Shopping Center, showcasing a pedestrian-oriented, contemporary and vibrant community of retail, restaurant, fashion and entertainment. This three bedrooms and two-and-a-half bath home with 2,287 square feet of living perfection on the top floor, sold on April 10 for $1,331,056.
The open space concept works great for the airy kitchen – dining – living room. The kitchen has a fine Jenn-Air appliance package, including a wine chiller and a 36-inch stove with a direct venting hood and an island roomy enough to seat six hungry people. Lots of windows flank the living room adding natural light and special views.
Ian Halpin of the Lauchlin Real Estate Group was the listing and selling agent.
Downtown – Fort Point – Leather District – Seaport
In addition to claiming the city’s largest transaction of the quarter, 50 Liberty holds the distinction for the city’s second highest sale. Penthouse 2B was sold on April 11 for $9,755,300. This spacious 3,618 square-foot home on the 14th floor has three-plus bedrooms and four-and-a-half bathrooms.
50 Liberty is 14 stories tall with 120 homes located on the water’s edge. 50 Liberty hosts Committee, an innovative Mediterranean-inspired restaurant, fashioned by owner George Aboujaoude. Other amenities include concierge services and garage parking.
All homes have similar finishes, such as marble baths, custom kitchens with Sub-Zero appliances, hardwood floors and incorporate private and communal outdoor space.
The Seaport’s median price per square foot shot up 82 percent from a year ago to $1,427 – the most expensive in the city. The median sales price rocketed up 129 percent in the second quarter to $1,898,995.
Total sales rose in East Boston during the second quarter, going from 86 homes sold in the second quarter of 2017 to 96 this time around. The median price soared from $429,500 last year to $511,250.
The most generous sale was at 320 Maverick St in the Jeffries Point neighborhood. Closing on June 27 for $790,000, Unit 502 is a two-bedroom, two-bath home with French doors opening to a unique oversized private roof deck. The kitchen includes classic portrait square cabinets and vanities in Kona palette, a glass backsplash and a quartz island.
Brett Speranzella of StreamLine Communities was the listing and selling agent.
The Fenway had a successful second quarter, thanks primarily to the many sales at Pierce Boston.
The number of units sold climbed 17 percent over the second quarter of last year with 75 this quarter. The average selling price escalated to 65 percent from a year ago to $1,176,526 and the median spiraled up 50 percent to $916,100. The average price per square foot zoomed to $1,212 and the median price per square foot rose to $1,105.
The topmost sale landed on June 25 when Penthouse 29A at Pierce Boston sold for $5,300,000. This opulent condo offers 2,684 square feet with three bedrooms and three bathrooms plus a private balcony on the 29th floor.
Pierce Boston residents also enjoy a lavish top-floor retreat featuring a sky-top pool with hot tub, a sky deck with kitchen and gas fireplaces, secluded library, private fireside dining, and a phenomenal panorama of the cityscape. Grounded on the second floor is a state-of-the-art fitness center.
Cindy Dwyer of the Collaborative Companies - Pierce Boston was the agent for the property.
While Jamaica Plain realized a slight rise in sales up from 139 in the same quarter last year to 141 this year, the median price saw a big jump, rising from $515,000 in second quarter last year to $625,000 this year.
Tops in sales was Unit 2 at 86 Orchard St. This expansive Neoclassical two-family 2,821-square-foot home with impeccable original details and deluxe modern amenities sold for $1,550,000 on April 30.
This home touts four bedrooms and four baths and is only a stone's throw from Jamaica Pond, Centre Street and the always-popular Arnold Arboretum.
South Boston reached new records in average price per square foot ($709) and median price per square foot ($713). While the median sales price rose 13 percent to $698,000 the number of sales fell 13 percent to 200 homes sold, a reflection of the shortage of inventory. Demand for homes in South Boston is alive and thriving.
The principal sale for the quarter in Southie came on June 14th when 35 Farragut Rd., Unit 3, closed for $2,150,000.
The 3,000-square-foot penthouse duplex offers three bedrooms, three-and-a-half baths, two-car garage parking and direct access elevator. Across from Pleasure Bay on South Boston's waterfront, this home offers some of the best views of the Boston Harbor Islands in the area.
This home was listed by Perry DiNatale of Perry DiNatale Realty and purchased with Zechariah Cook of Bulfinch Boston Realty, Inc.
The South End witnessed record sales of $314,294,881 in the second quarter – a 35 percent boost from the second quarter of 2016 when it stood at $232,347,746. The neighborhood also saw a record average of $1,072 per square foot and a record median price per square foot of $1,085.
Sales climbed 33 percent for the quarter with 253 units sold. The median selling price during that period was $1,040,000 – a 17 percent surge from a year ago.
The pinnacle of sales for the quarter was reached when 728-740 Tremont St., Unit 6, sold for $5,125,000 on May 31.
This hefty 10-room home with 4,897 square feet of living space affords four bedrooms and three-and-a-half baths plus an attached garage with two parking spaces.
Coming in second was 144 Warren Ave., Unit 2, which closed on June 22 for $4,350,000.
The stunning custom-designed penthouse triplex entertains more than 3,000 square feet of stylish living in a masterful open concept layout. There are four bedrooms, three-and-a-half bathrooms, an office, two private decks with irrigation and gas hookups and two direct-access deeded parking spaces. The state-of-the-art kitchen is outfitted with custom cabinetry and Viking/SubZero appliances. The majestic master suite spans the entirety of the second floor. The third level includes a versatile common room.
Kevin Caulfield of Compass was the listing and selling agent.
Waterfront – North End – Financial District
The second quarter supported record-breaking stats in the Waterfront and North End. The Waterfront reached a record high at $1,023 median price per square foot. In the North End, the average selling price hit a lofty $810,958 – a 14 percent increase from the previous record set in the first quarter. The median selling price of $660,000 also marks a new elevation.
The most substantial sale of the quarter was Unit 14 at 14 Union Wharf, which sold for $3,476,000 on June 15.
This corner exposure with two sets of bay windows and two private decks offers priceless views of the harbor and city skyline. Three levels of sun-filled living space include two-plus bedrooms and three-and-a-half baths with numerous updates throughout.
The fire-placed living room opens to the dining room and chef’s kitchen. A level above is the family room and office with options for a guest bedroom. The entire top level with soaring ceilings, skylights and private deck is dedicated to the master bedroom with a five-piece en-suite bath.
Tracy Campion of Campion & Company Fine Homes Real Estate was the listing agent and it was bought with Carmela Laurella of CL Waterfront Properties.