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 Back Bay condo market going back to 2005. (Last week, he roamed the land of waterfront mega-listings.)
3,434 Back Bay condo sales from 2005 through 2012, according to the MLS.
1,888 (55 percent) had at least two baths.
1,787 (52 percent) were between 600 and 1,400 square feet.
1,644 (48 percent) had at least one parking space (rented, deeded, assigned, etc.) and 814 (24 percent) had garage parking.
1,408 (41 percent) were two-bedrooms and only 471 (14 percent) were three-bedrooms.
1,275 (37 percent) touted "view" in the MLS remarks section; 918 (27 percent) referred to a "deck;" and 879 (26 percent) had "granite."
1,074 Back Bay condos sold for more than $1 million from 2005 through 2012, according to the MLS, almost 135 million-dollar-plus sales a year. From 2000 through 2004, Back Bay had only 165 million-dollar-plus sales, almost 33 a year.
$767 was the median price per square foot paid for a Back Bay condo in 2012; and $2,204 was the highest price paid per square foot for a Back Bay condo in 2012 (100 Beacon Street, #PH-B).
$785,000 was the median sales price for Back Bay condos in 2012, up from $770,000 in 2011.
543 Back Bay condos sold in 2012, according to the MLS, up from 433 in 2011. Only 295 Back Bay condos sold in 2003 (at a median price of $494,000).
450 (13 percent) Back Bay condos that sold from 2005 through 2012 were built after 2002.
105 was the average number of days it took a Back Bay condo to find a buyer in 2012, down from 131 in 2011. In the last month, it only took Back Bay condos 97 days on average to find a buyer.
87 (16 percent) Back Bay condos sold in excess of $1,000 per square foot in 2012. Only 22 (5 percent) Back Bay condo sales garnered in excess of $1,000 per square foot in 2007.
83 Back Bay condos were on-market on Jan. 29, 2013, down from 158 Back Bay condos on-market on Jan. 29, 2012.
82 is the amount of condos sold for at least $3,925,000 in Back Bay from 2005 through 2012. In the South End, $3,925,000 is the highest sales price ever recorded by the MLS.
$13,200,000 is the highest MLS-recorded sales price for a Back Bay condominium (776 Boylston Street, #W-PH-2E).
3.75 months is the amount of time it would take buyers at the current sales pace to purchase the entire available inventory of Back Bay condos, which means it is less of a seller's market than other Boston neighborhoods.
2 was the amount of available listings in the MLS for Back Bay properties priced below $500,000 on Jan. 29, 2013.
0 is the number of Boston neighborhoods which Back Bay residents think is better than theirs.
· Our Bates By the Numbers archive [Curbed Boston]
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