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, he deep-dives into the condo market of the Hub's No. 1 neighborhood. (Last week, he told a scary tale of Boston inventory.)
3,904 South Boston condo sales since 2005, according to the MLS.
2,954 (76 percent) were between 600 and 1,400 square feet.
2,542 (65 percent) were two-bedrooms and only 476 (12 percent) were three-bedrooms.
1,964 (50 percent) had "granite" in the MLS remarks section and 1,050 (27 percent) touted "view" in the MLS remarks section.
1,662 (43 percent) had at least two full baths.
1,436 (37 percent) had at least one parking space and 711 (18 percent) had garage parking.
1,097 (28 percent) were built after 2004.
$616 was the highest price paid per square foot for a South Boston condo in 2012 (#9 at 509 East 2nd Street).
588 South Boston condos sold, according to the MLS in 2012, up from 466 in 2011. Only 151 South Boston condos sold per the MLS in 2003.
$406,000 was the median sales price for South Boston condos in 2012, up from $374,500 in 2011.
$394 was the median price per square foot paid for a South Boston condo in 2012, which is a great value compared to the South End ($627 median) and Seaport District ($495 median), and means that South Boston buyers in 2012 got more than two square feet of living space for the price of one square foot in Midtown ($850 median).
141 Dorchester, #1101, was the South Boston condo with the highest assessed value in 2012: $3,400,000.
36 South Boston condos sold in the past month, per the MLS, but only 30 condos were described as on-market in South Boston on Jan. 8, down from 128 condos on-market in South Boston a year earlier(Jan. 8, 2012).
17 condos were on-market in South Boston on Jan. 8 without active-status flags, which means at the current sales pace (36 a month), South Boston buyers would buy the available inventory (17) two times over every month.
10 MLS-listed condos sold at "141 Dorchester Ave, South Boston" in 2012 and 29 MLS-listed condos sold at "141 Dorchester Ave, Seaport District" in 2012. It's the same building.
12 South Boston condos sold for over $1 million, per the MLS, since 2005.
$2,095,519.22 is the highest South Boston condo sale in the MLS (#517/518 at 141 Dorchester in 2007).
1 article in The New Yorker described the South Boston of the past as an area known for clannishness, impenetrability, and being "overwhelmingly Irish, Catholic and working class." A demographic breakdown by the company ESRI describes today's South Boston residents as "trendsetters, city lights, and high-rise renters."
0 is the number of Hub neighborhoods finishing ahead of South Boston in the Curbed Boston Cup 2012.
· The Curbed Cup Neighborhood of the Year: South Boston! [Curbed Boston]
· Our Bates By the Numbers archive [Curbed Boston]
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