The condo market in choice downtown neighborhoods like Back Bay, Beacon Hill, Bay Village, the South End, the North End and Chinatown is exiting 2011 on a high note, at least according to data for the week ending Dec. 22 passed along by brokerage Otis & Ahearn. The median and average sales prices for downtown condos are up slightly from the same period in 2010, and the activity on the luxury end has been busy, busy, busy.
The year-to-date average sales price was $663,967 by Dec. 22, up from $663,545 in 2010. And the median sales price was $470,000, up from $465,000. (But note the chart above: It's still no 2008.)
Year-to-date, there have been 359 downtown condo sales of at least $1 million; 97 of at least $2 million; 35 of at least $3 million; and 106 of at least $1,000 a square foot. Fourteen percent of downtown condo sales year-to-date have been for at least $1 million.