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Back Bay Prices Up, Single-Family Sales Taking Forever

Presenting Neighborhood Watch, a monthly breakdown from Curbed Boston about what's going on market-wise in key neighborhoods 'round the region (and, for our purposes here, towns and cities are neighborhoods, too—because they almost were, after all). All stats courtesy of William Raveis Real Estate. Next up, Back Bay.

Sales of single-family homes were up annually (well, by three) and prices were up, too—the median, in fact, by 10 percent to $3,575,000. The real takeaway, though, would be the jump in the average time it takes to sell a Back Bay single-family, which went from 190 days in August 2011 to 237 in August 2012. That's 45 days above the overall Boston average to boot.
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It's a split decision on condos. For buyers, there's the fact that prices were down annually: the average by 5.1 percent to $1,113,883 and the median by 7.4 percent to $757,150. For sellers, everything else: inventory was down (part of a larger Hub trend); days on the market was down; and sales were up by more than 16 percent.

· Boston Condo Inventory Is So Low [Insert Punchline Here] [Curbed Boston]
· Our Neighborhood Watch archive [Curbed Boston]