Saturday, November 19, 2005

Boston Neighborhood Market Report

LINK, the Listing Information Network that tracks real estate activity in Boston published the third quarter sales report. The report compares the third quarter of 2005 with the third quarter of 2004.

The summary of the findings in reference to the median sales price are as follows:

Back Bay
2004 - $525,000.00
2005 - $660,000.00

Beacon Hill
2004 - $420,000.00
2005 - $396.000.00

Charlestown
2004 - $463,500.00
2005 - $489,000.00

Downtown
2004 - $550,000.00
2005 - $553,000.00

East Boston
2004 - $420,000.00
2005 - $418,000.00

Fenway
2004 - $287,500.00
2005 - $303,000.00

Jamaica Plain
2004 - $373,000.00
2005 - $334,000.00

South Boston
2004 - $350,000.00
2005 - $359,000.00

South End
2004 - $559,000.00
2005 - $499,000.00

Waterfront
2004 - $515,000.00
2005 - $499,000.00

Out of the ten neighborhoods listed 1/2 the prices went up and 1/2 the sale prices went down. This indicates to me that the market has reached it's peak and that some neighborhoods in Boston are beginning to see the downturn.

In reference to the number of sales transactions:

Back Bay/Midtown
2004 - 260
2005 - 240

Beacon Hill/West End
2004 - 142
2005 - 111

South End
2004 - 425
2005 - 274

To view the latest listings visit www.fordrealty.net

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