The Chevron, a brand new ground-up development in one of the South End’s strongest locations (Across from 505 Tremont) has a unit on market.
Previously, all five condominiums were put under agreement before the steel frame in the building was finished.
Thanks to a deal falling apart, however, the third floor unit which is approximately 2,500 square feet with direct elevator access, lots of windows and garage parking is available for $3.5 million. The owner will be reviewing offers on 9/30.
Contact me, if you would like to view.
Is Now a Good Time to Buy Or Sell?
(And other FAQs about the Greater Boston Condominium Market)
Come to “Inside the Boston Condo Market,” a free presentation where speakers address the most frequently asked Boston real estate questions, discuss current market conditions, recent changes in the market, and offer tips and insights on what can be done to help buyers and sellers get what they want.
Find out what is happening in the market, what has changed and what you can do to get what you want!
October 17, 2013
6 PM – 8PM
44 Commonwealth Ave (The College Club)
Limited Space: RSVP required.
In most Greater Boston condominium neighborhoods, above average price points have shown above average growth.
In nine neighborhoods, I reviewed year-over-year sales through September 14 and here’s a few of the price ranges I found in them which had doubled sales.
In South Boston, sales between $600K and $900K have more than doubled.
In the South End, sales over $1.5 million have nearly doubled.
In Back Bay, sales over $3 million have doubled.
To get the low-down on the high-up prices in the other six markets, check out my featured post!
David Bates Presents
THE FIVE BENEFITS OF INVESTING IN (BOSTON) REAL ESTATE
(A FREE PRESENTATION)
This is a great starting point for people who have thought about buying a Greater Boston condo or multifamily and renting it out.
In layman terms, this educational presentation will show how a simple real estate investment has many benefits and numerous returns on investment.
Attendees will gain insight on how to analyze a real estate investment and an overview of investing in Boston. They will also discover what it takes get financing for investment properties.
October 19, 2013 (Saturday)
9 AM – 11 AM
44 Commonwealth Ave (The College Club)
Limited Space: RSVP required.
To sign up, click here and fill out form
Even if you can afford to pay $6 million for your Boston condo, you really can’t afford to offer just the list price.
That’s what my analysis of August closings for Nine Key Condo Markets (Back Bay, Beacon Hill, Brookline, Cambridge, Charlestown, Jamaica Plain, Somerville, South Boston, and the South End) shows. To beat out the competition, the buyers of a $5.995 million listing at the prestigious Carlton House (2 Commonwealth Ave) ended having to offer $6.25 million, $255,000 more than the asking price.
The listing agent, George Ballantyne, told me that even though he put it on the market at significantly less, the final price was right where he thought it would end up selling. I don’t doubt it! George has one of the most sophisticated pricing presentations I have seen and he has likely seen more $6 million properties than anyone on the East Coast. As a result of the pricing strategy, this luxury condominium found a buyer in just 20 days, at a time when a review of MLS sales shows the average market time for $5+ million Boston condo sales is 303 days.
My featured column in Curbed this week concentrated not just on $6 million properties, but all of the over-ask sales in Nine Key Condo Markets.
In August, 53.7% of the sellers in the Nine Key Markets accepted over-ask offers. Incredible! Will over-ask offers fade with summer weather? Check out my column and find out!
If you could ask The Greater Boston Real Estate Market a few questions, what would they be?
Well, I called several times this summer and nobody picked up!
My monthly column in Banker and Tradesman details my efforts to reach said market and the things that I wanted to bring to its attention for insights and feedback.
No matter how hard I treid, I never reached the market and you might be surprised at why it was impossible for me to get a hold of the market.
For a copy of this light take on what’s happening in our current real estate world, email me.
Your home didn’t sell?
Was that a tough break or a lucky one?
Standard Realtor Operating Procedure for homes that didn’t sell is to lower the price, but sometimes it’s the market and not the home that’s causing the results.
My featured post on Curbed this week discussed homes that failed to sell. As a result, instead of selling for a low, low price in a bad, bad market, these condos got to be FOR SALE in a good market. You might have guessed what happened next, but if you didn’t, check out my post, “Thanks for Not Selling My Boston Condo.”
On August 29: the pictured 5,812 square foot home located at 45 Parley Avenue, Jamaica Plain closed at a sales price of $2,155,000 making it the highest single-family sale in Jamaica Plain’s MLS history. The only other JP home to top a $2 million sales price was 180 Moss Hill Road, which closed at $2 million even in 2005.
The MLS listing describes Parley as “Stunning…with magnificent African mahogany stairwells, fabulous eat-in kitchen in onyx and granite, Din Rm with FP, great LivRm with 2 FPs overlooking architec. designed garden with multiple terraces and koi ponds. Master BR suite with FP, private terrace, and Master bath in onyx and black granite with double jacuzzi and steam shower. Excellent entertainment areas with high class amenities: multiple terraces, sauna, endless pool, whirlpool, greenhouse, etc.”
They aren’t your father’s Boston neighborhoods any more. So if you run across him over the holiday weekend, you might explain it this way:
You say, “Allston.” I say “Green Distict”
You say, “South Boston Waterfront.” I say, “Innovation District”
You say “Slummerville.” I say, “Hipsters!”
Boston neighborhoods have changed since the last generation grew up and my featured post on Curbed talks about the one neighborhood I feel has changed the most: South Boston. Once known for being predominantly an Irish-Catholic working class neighborhood, today, it’s a mecca for area twenty-something-year-olds of every faith and often white collar careers.
Seemingly, every day that goes by I run into someone who has traded in their old Boston neighborhood and made South Boston their home.
What might former superstar mutual fund manager Peter Lynch make of this observation? Check out my post and find out!
This short–to the point–ebook is an excellent reference for Greater Boston condominium buyers and sellers. Not only do the neighborhood profiles found in CONTEXT make it easy to see how a specific condominium compares to other condominiums typically sold in a neighborhood, CONTEXT also clearly shows how nine of the most important and most valuable Greater Boston condominium neighborhoods compare on 17 different metrics. If you want to know how a condo or neighborhood compares in median sales price, median price paid per square foot, average condo fee, as well as the likelihood of finding renovated condos, condos with a view, a deck or parking, and much more, then get CONTEXT.
The neighborhoods included in CONTEXT are Back Bay, Beacon Hill, Brookline, Cambridge, Charlestown, Jamaica Plain, Somerville, South Boston and the South End,
Lots of visuals and short paragraphs make this ebook extremely light reading, on par with reading the Metro newspaper.
Don’t make a mistake: Get CONTEXT before you buy or sell.
Sign up and get my free ebook.
This book is a great reference for buyers and sellers, who will quickly see how condos and neighborhoods compare. The short paragraphs and many visuals make it easy reading.
Get CONTEXT before you buy or sell!
About David Bates
The Bates Real Estate Report is an original content blog about the Greater Boston real estate market. The reports focus primarily on the Greater Boston condominium market, and at the same time can touch on other items of interest and happenings of note in the general Boston market. It is written by a real estate agent who works the condo market and who has a passion for Boston real estate. In addition to this blog, his commentary on the market can now be seen in a variety of leading local real estate publications. If you like his insights, obviously, you should consider using him as an agent.
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