Here is the latest installment of Bates By the Numbers, a weekly feature by broker David Bates that drills down into the Hub's housing market to uncover those trends you would not otherwise see. This week, David breaks down by address where the most downtown condo sales are happening. (Last week, he wrote about which was winning the hearths and minds of Massachusetts home buyers, gas or oil.)
Over the past few days, I chowed turkey leftovers and reviewed the listing and sales activity of the Curbed Boston 76, the city's top condo buildings. I looked at the previous 12 months and concerned myself with listings that had come off the market and either sold or failed to sell. I paid no attention to listings that were on the market or under agreement. Nonetheless, what I discovered were some of Boston's busiest condominium listing addresses as well as a few of Boston's most sure-fire sales addresses.
Check it out.
Busiest Addresses:
1. 110 Stuart Street, Back Bay — the W — 46 Listings/33 Sales — 72% Sales Ratio
Described in the listings as an "iconic glass tower and Boston's newest premier residential address" this development—which fought off bankruptcy—offers hotel services.
2. 42 Eighth Street, Charlestown Navy Yard — Parris Landing — 44 Listing/34 Sales — 77% Sales Ratio
Developed in 2005, the re-invented Navy Yard building features designs by famed Philippe Starck and offers buyers the opportunity to customize their finishes.
3. 141 Dorchester, Seaport District — the Macallen building — 43 Listings/35 Sales — 81% Sales Ratio
Perhaps the most visible and distinctive-looking modern development in Boston became the city's first "green" residential building when it was completed in 2007.
4. 45 Province, Beacon Hill/Midtown — 33 Listings/30 Sales — 91% Sales Ratio
This 137-unit development came to market in 2009, and was described in the original listings as "Boston's most vibrant and elegant urban community."
5. 85 East India, Waterfront — Harbor Towers — 30 Listings/24 Sales — 80% Sales Ratio
One of Boston's most loved, hated and assessed addresses. (Note: 65 East India, the other tower comprising Harbor Towers, had an additional 14 listings and 11 sales).
Most Reliable Sales Addresses:
1. 8 Whittier Place, West End — 12 Listings/12 Sales — 100% Sales Ratio
Best known for Boston's most memorable real estate marketing phrase, "If you lived here, you'd be home now," its priciest sale for the previous 12 months came in April—a renovated 2BR, 2BA on the 19th floor for $574,500.
2. 9 Hawthorne Place, West End — 9 Listings/9 Sales — 100% Sales Ratio
Located within walking distance to MGH, Government Center, the Financial District and the Charles River Esplanade, the building sold large studios (636 square feet); oversized 1-BRs (879-941 square feet); and ample-sized 2BR, 2BA units—all at a modest average of $415 a square foot.
3. 285 Columbus Avenue, Back Bay — 8 Listings/8 Sales — 100% Sales Ratio
Near the Back Bay/South End line, this building has loft-style units with "European inspired design." In the last 12 months, seven 2-BRs sold. The first two to close took over a year of market time to find buyers; none of the last five sales, however, needed more than 54 days to do the same.
4. 505 Tremont, South End — Atelier 505 — 8 Listings/8 Sales — 100% Sales Ratio
Designed by world-renowned architects, this building is one of the most prestigious in the South End. A "trapezoidal shaped 2+ bedroom" recently closed for more than $1.4 million.
5. 300 Boylston, Back Bay — Heritage on the Garden — 4 Listings/4 Sales — 100% Sales Ratio
Built in 1988, many of the condos in this full-service building overlook the Public Garden. A rear-facing studio that didn't have such idyllic views sold in May for the asking price of $759,000.
(Listings and sales source: Analysis of Greater Boston MLSPIN SOLD, EXP, CAN, WDN between the dates 11/27/11-11/26/12)
· The Curbed Boston 76: the City's Top Condo Buildings [Curbed Boston]
· Our Bates By the Numbers archive [Curbed Boston]