It's the start of a new month, and that means that Curbed Boston's Neighborhood Watch is in full effect. First up today, an in-depth look at the recent real estate trends in Back Bay, Tom Brady and Gisele Bundchen included! (All statistics, unless otherwise cited, courtesy of Trulia.)
Average Listing Price
The neighborhood's average listing price ended October north of $1,883,000, not surprisingly well above that of Boston as a whole ($786,000). We can't help but think this hefty average was helped in no small part by the $10.5 million listing at 310 Beacon Street (a.k.a., the price-chopped manse of Tomsele). It should be noted, however, that the average was down slightly from the start of October, when it was around $1,970,000.
Again, Back Bay led Boston by a lot, with a median sales price of $671,250 in September vs. $510,000 for the city as a whole. This represents a 4.6 percent jump from July 2010, and makes Back Bay one of the the most expensive neighborhoods housing-sales-wise in Boston, along with the tiny Leather District/Chinatown and tinier Bay Village. The average price per square foot was $736, a slight annual increase and well ahead of the Boston average of $654.
But sales there were! Back Bay sales were up 12.4 percent from July 2010, with 118 homes trading in September in the neighborhood.
You kidding? This is Back Bay we're talking about, one of the nation's swankiest 'hoods. According to Trulia, there are 180 homes in the neighborhood currently on the market, including Tom and Gisele's. It's going to be a busy winter.
· Tom Brady and Gisele Bundchen Price-Chop Back Bay Manse [Curbed Boston]
· Our Back Bay archive [Curbed Boston]