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Q 4 2 0 1 6B O S T O NM A R K E T R E P O R T
4 5
Q4 2016 BOSTON MARKET REPORT
01
Map of Coverage Area
Single Family Overview
Condo Overview
Neighborhood Summary
Back Bay/Beacon Hill
Bay Village/South End
South Boston
West End
Brookline
Cambridge
Newton
Page 3
Page 2
Page 17Page 5
Page 18Page 7
Page 19Page 9
Charlestown
Downtown Boston
East Boston
North End/Waterfront
Seaport
Page 12
Page 11
Page 13
Page 14
Page 15
Page 16
Page 20Page 10
Compass created Compass Markets, a mobile application that analyzes real estate markets in real time,
because we believe in transparency and the importance of real-time information in the marketplace.
Highlighted in this report are several key trends observed from our Compass Markets app throughout
the fourth quarter.
The single family market in Boston experienced a decrease in both inventory and sales this quarter.
Available listings decreased 8% year-over-year to 303 homes while sales decreased 10% to 223 closed
transactions. The drop in the number of sales was primarily led by the 14% year-over-year decrease
in Newton, where 117 homes sold in Q4 2016. However, median asking price and median sale price
increased slightly year-over-year, by 2% and 1% respectively, both achieving the highest fourth quarter
record. The sweet spot for sales occurred between $1M-$2M (up 4% Y-o-Y to 95 closings), followed by 86
sales between $500K-$1M (down 18% Y-o-Y). Median days on market decreased significantly by 33%
year-over-year as lower inventory increased the pace of sales.
The condo market in Boston recorded a strong end to 2016. Inventory increased 9% year-over-year
to 1,278 units and median asking price increased 12% year-over-year to $785K. The number of sales
increased by 2% year-over-year to 916 closed transactions. Demand for larger apartments was strong,
as the number of three-bedroom sales increased 22% year-over-year and the number of four-bedroom+
sales increased 47%. Median sale price tied a record level of $725K (up 10% Y-o-Y) last achieved in Q2 2016,
primarily driven by double-digit percentage increases in Cambridge, South Boston, and Brookline, which
together accounted for 43% of condo sales this quarter. Despite an increase in inventory, median days on
market decreased by 17% year-over-year.
Introducing the Compass Q4 2016 Boston Market Report
6 7
Q4 2016 BOSTON MARKET REPORT
Map of Coverage Area
Compass’ Q4 2016 Boston Market Report is an analysis of the
12 neighborhoods highlighted on this map. Please note that all
references to Boston overall refer solely to the collection of these
neighborhoods and exclude all other areas and neighborhoods of
Boston; all references to Downtown Boston refer to the collection of
neighborhoods including Chinatown, Downtown Boston, Financial
District, Leather District, and Midtown.
02
Newton Brookline
CambridgeEast Boston
South Boston
Charlestown
Seaport
Back BayBeacon Hill
Bay VillageSouth End
West End
North EndWaterfront
Downtown Boston
08 09
Q4 2016 BOSTON MARKET REPORT
03
Single Family Overview
MEDIAN SALE PRICENUMBER OF SALES
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 303
MEDIAN ASKING PRICE $1,289,000
NUMBER OF SALES 223
MEDIAN SALE PRICE $1,100,000
MEDIAN SALE PPSF $462
DAYS ON MARKET 22 NEGOTIABILITY -0.7%
SINGLE FAMILY
330
$1,259,500
247
$1,089,000
$435
33-0.5%
411
$1,265,000
334
$1,185,000
$465
270.9%
-26.3%
1.9%
-33.2%
-7.2%
-0.7%
-18.5%
-8.2%
2.3%
-9.7%
1.0%
6.1%
-33.3%
50
100
150
200
250
300
350
400
450
$500,000
$600,000
$700,000
$800,000
$900,000
$1,000,000
$1,100,000
$1,200,000
$1,300,000
# OF SALES MEDIAN PRICE
The Boston single family market exhibited fewer available
listings and fewer closed sales in the fourth quarter
compared to the same quarter of 2015. There were 303
homes on the market and 223 homes sold, down 8% and
10% year-over-year, respectively. Despite the drop in sales
to the lowest point in the past five fourth quarters, median
sale price increased slightly by 1% year-over-year to $1.1M
and median PPSF rose significantly by 6% year-over-year
to $462, both representing the highest fourth quarter on
record. Median days on market dropped 33% from the
prior year fourth quarter to 22 days. Negotiability, which
represents the average percentage difference between
the closing price and last asking price, remained virtually
unchanged at -0.7% compared to -0.5% in Q4 2015. In other
words, closing prices were lower than their last asking prices.
010 011
Q4 2016 BOSTON MARKET REPORT
The year-over-year decline in number of single family sales
was mostly attributable to weakness at the low end of the
market (under $1M), though weakness at the highest end
(above $3M) contributed as well. The sweet spot for sales
occurred between $1M-$2M (up 4% Y-o-Y to 95 closings),
followed by 86 sales between $500K-$1M (down 18% Y-o-Y).
Supply was low in the $1M-$2M range as the number of
available listings decreased 20% year-over-year to 94 units.
Median sale price in all five price categories declined this
quarter compared to a strong fourth quarter last year; the
$3M+ (down 13% Y-o-Y) and $1M-$2M (down 8% Y-o-Y)
categories decreased the most.
04
Single Family Overview
Sales by Price Point
Q4 2016 Q4 2015 YOY% Q3 2016 QOQ%
$500K- 6 11 -45.5% 7 -14.3%$500K-$1M 86 105 -18.1% 121-28.9%$1M-$2M 95 91 4.4% 140 -32.1% $2M-$3M 27 19 42.1% 37 -27.0%$3M+ 9 21 -57.1% 29 -69.0%
Q4 2016 Q4 2015 YOY% Q3 2016 QOQ%
$500K- $400,000 $422,000 -5.2% $425,000 -5.9%$500K-$1M $745,000 $780,000 -4.5%$746,000 -0.1%$1M-$2M $1,275,000 $1,400,000 -8.9%$1,347,500 -5.4% $2M-$3M $2,278,888 $2,300,000 -0.9% $2,530,000-9.9%$3M+ $3,200,000 $3,693,000 -13.3% $3,450,000-7.2%
NUMBER OF SALES
MEDIAN SALE PRICE
012 013
Q4 2016 BOSTON MARKET REPORT
05
Condo Overview
MEDIAN SALE PRICENUMBER OF SALES
Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4
2007 2008 2009 2010 2011 2012 2013 2014 2015 2016
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 1,278
MEDIAN ASKING PRICE $785,000
NUMBER OF SALES 916
MEDIAN SALE PRICE $725,000
MEDIAN SALE PPSF $707
DAYS ON MARKET 20 NEGOTIABILITY 0.5%
CONDO
1,777
$699,000
897
$661,000
$656
240.6%
1,655
$749,000
1,309
$710,000
$718
201.6%
-22.8%
4.8%
-30.0%
2.1%
-1.5%
0.0%
8.6%
12.3%
2.1%
9.7%
7.8%
-16.7%
200
400
600
800
1,000
1,200
1,400
1,600
1,800
$350,000
$400,000
$450,000
$500,000
$550,000
$600,000
$650,000
$700,000
$750,000
# OF SALES MEDIAN PRICE
The Boston condo market was strong in the fourth quarter
of 2016, as the median sale price increased 10% year-over-
year to $725,000 and median days on market decreased 17%
to 20 days. The number of sales, which increased 2% to 916
units, was generally consistent with the fourth quarter of
2015. The number of available listings increased 9% year-
over-year to 1,278 units, and the median asking price rose
12% to $785K. Median PPSF increased 8% year-over-year to
$707. Negotiability, which represents the average percentage
difference between the closing price and last asking price,
remained flat at +0.5% compared to +0.6% in Q4 2015. In
other words, closing prices were higher than their last asking
prices, indicating significant demand and under-supply of
condominiums.
014 015
Q4 2016 BOSTON MARKET REPORT
The 916 condo sales this quarter were primarily composed
of one- and two-bedrooms, which made up 74% of all sales.
The market for larger apartments was strong as well, as the
number of three-bedroom sales increased 22% year-over-
year and the number of four-bedroom+ sales increased
47%. Additionally, median sale price of four-bedroom+
units increased 17% to nearly $1.4M. Studio and two-
bedroom condos also experienced relatively large median
price increases year-over-year, up 13% and 9%, respectively.
06
Condo Overview
Sales by Bedroom Type
Q4 2016 Q4 2015 YOY% Q3 2016 QOQ%
STUDIO 20 27 -25.9% 48-58.3%1BR 245 234 4.7%339 -27.7%2BR 437 467 -6.4% 610 -28.4% 3BR 167 137 21.9% 255 -34.5%4BR+ 47 32 46.9% 57-17.5%
Q4 2016 Q4 2015 YOY% Q3 2016 QOQ%
STUDIO $442,500 $393,000 12.6% $527,000 -16.0%1BR $520,000 $515,000 1.0% $545,000 -4.6%2BR $760,000 $695,000 9.4%$735,250 3.4% 3BR $979,000 $950,000 3.1% $940,000 4.1%4BR+ $1,390,000 $1,190,000 16.8% $1,295,0007.3%
NUMBER OF SALES
MEDIAN SALE PRICE
016 017
Q4 2016 BOSTON MARKET REPORT
This page provides a snapshot of Q4 2016 market conditions by property type and neighborhood.
Please note that Downtown Boston refers to the collection of neighborhoods including Chinatown,
Downtown Boston, Financial District, Leather District, and Midtown.
Boston single family median sale price saw a small uptick of 1% year-over-year, with significant
percentage changes occurring in Charlestown (up 64% to $1.2M), South Boston (up 44% to $830K),
Back Bay/Beacon Hill (down 58% to $1.8M) and Bay Village/South End (down 37% to $1.9M).
The number of single family sales in Boston decreased 10% year-over-year to 223 homes, primarily
led by the 14% year-over-year decrease in Newton, where 117 homes sold in Q4 2016.
07
Neighborhood Summary
LISTING INVENTORY
MEDIAN ASKING PRICE
MEDIAN SALE PRICE
MEDIAN SALE PPSF
DAYS ON MARKET
YOY% YOY% YOY% YOY% YOY% YOY%# OF SALES
BACK BAY/BEACON HILL
BAY VILLAGE/SOUTH END
CHARLESTOWN
DOWNTOWN BOSTON
EAST BOSTON
NOTH END/WATERFRONT
SEAPORT
SOUTH BOSTON
WEST END
BROOKLINE
CAMBRIDGE
NEWTON
OVERALL
16
10
20
0
16
0
0
27
0
51
30
133
303
97
32
21
N/A
28
N/A
N/A
22
N/A
26
20
22
22
3
7
11
0
6
0
0
15
0
39
25
117
223
6.7%
-28.6%
5.3%
-
33.3%
-
-
68.8%
-
4.1%
3.4%
-24.0%
-8.2%
2.5%
1.8%
10.6%
-
11.4%
-
-
47.0%
-
42.8%
32.1%
-4.0%
2.3%
-50.0%
-30.0%
-26.7%
-
20.0%
-
-
50.0%
-
5.4%
-7.4%
-14.0%
-9.7%
-57.5%
-36.7%
63.8%
-
18.2%
-
-
43.8%
-
-1.6%
37.6%
-8.2%
1.0%
31.7%
-27.8%
-1.4%
-
18.7%
-
-
10.3%
-
3.7%
27.8%
1.1%
6.1%
185.3%
28.0%
-47.5%
-
-38.9%
-
-
-70.1%
-
23.8%
-31.0%
-41.3%
-33.3%
$3,845,000
$3,245,000
$995,000
N/A
$426,000
N/A
N/A
$829,900
N/A
$2,499,000
$1,590,000
$1,199,000
$1,289,000
$1,785,000
$1,913,500
$1,200,000
N/A
$400,000
N/A
N/A
$829,900
N/A
$1,280,000
$1,390,000
$1,001,000
$1,100,000
$1,232
$737
$508
N/A
$289
N/A
N/A
$432
N/A
$508
$688
$409
$462
Single Family
018 019
Q4 2016 BOSTON MARKET REPORT
08
Neighborhood Summary
LISTING INVENTORY
MEDIAN ASKING PRICE
MEDIAN SALE PRICE
MEDIAN SALE PPSF
DAYS ON MARKET
YOY% YOY% YOY% YOY% YOY% YOY%# OF SALES
BACK BAY/BEACON HILL
BAY VILLAGE/SOUTH END
CHARLESTOWN
DOWNTOWN BOSTON
EAST BOSTON
NOTH END/WATERFRONT
SEAPORT
SOUTH BOSTON
WEST END
BROOKLINE
CAMBRIDGE
NEWTON
OVERALL
168
144
84
97
85
61
10
234
11
106
168
110
1,278
21
20
23
41
23
23
26
19
10
21
17
28
20
109
106
71
51
53
48
11
140
2
110
147
68
916
-8.7%
-20.9%
12.0%
47.0%
77.1%
3.4%
-50.0%
32.2%
-21.4%
-6.2%
32.3%
-1.8%
8.6%
16.1%
10.1%
8.1%
17.4%
29.3%
65.4%
23.6%
21.6%
-11.2%
15.6%
16.7%
25.9%
12.3%
2.8%
-31.6%
0.0%
41.7%
76.7%
17.1%
10.0%
3.7%
-75.0%
10.0%
24.6%
-21.8%
2.1%
-18.6%
-0.5%
9.9%
68.5%
52.9%
19.3%
-16.7%
11.1%
-1.5%
10.1%
18.1%
22.2%
9.7%
4.1%
1.4%
2.5%
39.0%
61.3%
20.5%
27.1%
15.7%
21.7%
-0.3%
12.1%
1.0%
7.8%
-35.4%
-18.8%
27.8%
-12.8%
-25.8%
-42.3%
4.0%
-24.0%
-74.0%
2.4%
6.3%
-12.5%
-16.7%
$1,497,000
$879,500
$627,000
$1,875,000
$439,000
$1,199,000
$944,950
$699,000
$605,000
$780,000
$699,900
$849,000
$785,000
$875,000
$831,000
$610,000
$1,980,000
$479,900
$787,500
$785,000
$650,000
$489,000
$735,000
$725,000
$727,000
$725,000
$1,048
$925
$650
$1,278
$552
$927
$1,000
$643
$646
$605
$710
$391
$707
This page provides a snapshot of Q4 2016 market conditions by property type and neighborhood.
Please note that Downtown Boston refers to the collection of neighborhoods including Chinatown,
Downtown Boston, Financial District, Leather District, and Midtown.
Boston condo median sale price increased 10% year-over-year, primarily driven by double-digit
percentage increases in Cambridge, South Boston, and Brookline, which together accounted for
43% of condo sales this quarter. The number of condo sales virtually stayed flat in Q4 2016 (up 2%
Y-o-Y); notable increases in East Boston (up 77% to 53 units) and Downtown Boston (up 42% to 51
units) compensated for decreases in Bay Village/South End (down 32% to 106 units) and Newton
(down 22% to 68 units).
Condo
020 021
Q4 2016 BOSTON MARKET REPORT
09
Back Bay/Beacon Hill
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 16
MEDIAN ASKING PRICE $3,845,000
NUMBER OF SALES 3
MEDIAN SALE PRICE $1,785,000
MEDIAN SALE PPSF $1,232
DAYS ON MARKET 97
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 168
MEDIAN ASKING PRICE $1,497,000
NUMBER OF SALES 109
MEDIAN SALE PRICE $875,000
MEDIAN SALE PPSF $1,048
DAYS ON MARKET 21
SINGLE FAMILY
CONDO
15
$3,750,000
6
$4,197,500
$936
34
184
$1,289,000
106
$1,075,000
$1,007
33
13
$3,990,000
8
$3,902,500
$1,142
40
217
$1,195,000
133
$990,000
$1,054
26
23.1%
-3.6%
-62.5%
-54.3%
7.9%
145.6%
-22.6%
25.3%
-18.0%
-11.6%
-0.6%
-19.2%
6.7%
2.5%
-50.0%
-57.5%
31.7%
185.3%
-8.7%
16.1%
2.8%
-18.6%
4.1%
-35.4%
The single family market in Back Bay/Beacon Hill
experienced a slow quarter, with the lowest number of
sales on record (down 50% Y-o-Y to only 3 homes), and
the largest decline in median sale price in five years
(down 58% Y-o-Y to $1.8M). Median days on market
increased dramatically by 185% year-over-year to 97 days,
albeit from a smaller sample size. Median PPSF, however,
increased 32% to $1,232/SF. Please note that percent
changes are exacerbated due to a small sample size.
Inventory decreased 9% year-over-year in the Back
Bay/Beacon Hill condo market as median asking price
increased 16%. Sales were up 3% compared to the fourth
quarter of 2015, but median sale price dropped 19% from
4Q 2015’s record-setting median price of $1.1M. Lower
prices sped up absorption, as median days on market
dropped 35% year-over-year to 21 days.
022 023
Q4 2016 BOSTON MARKET REPORT
10
Bay Village/South End
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 10
MEDIAN ASKING PRICE $3,245,000
NUMBER OF SALES 7
MEDIAN SALE PRICE $1,913,500
MEDIAN SALE PPSF $737
DAYS ON MARKET 32
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 144
MEDIAN ASKING PRICE $879,500
NUMBER OF SALES 106
MEDIAN SALE PRICE $831,000
MEDIAN SALE PPSF $925
DAYS ON MARKET 20
SINGLE FAMILY
CONDO
14
$3,187,500
10
$3,022,500
$1,021
245
182
$799,000
155
$835,000
$913
24
12
$3,372,500
6
$2,697,500
$895
69
169
$870,000
125
$818,000
$928
20
-16.7%
-3.8%
16.7%
-29.1%
-17.6%
-53.3%
-14.8%
1.1%
-15.2%
1.6%
-0.3%
0.0%
-28.6%
1.8%
-30.0%
-36.7%
-27.8%
28.0%
-20.9%
10.1%
-31.6%
-0.5%
1.4%
-18.8%
The single family market in Bay Village/South End was
slower in the fourth quarter, with a 29% drop in inventory
(10 homes) and a 30% decrease in sales (7 closings)
compared to the same quarter last year. The median sale
price of $1.9M was the highest among all neighborhoods
covered in the report despite a steep 37% year-over-year
decline. Median days on market increased to 32 days, up
28% year-over-year.
The condo market in Bay Village/South End experienced
the lowest fourth-quarter number of sales since 2008,
down 32% year-over-year to 106 units. However, median
sale price was the second highest fourth quarter on record,
just shy of the Q4 2015 median at $835K. Median days on
market decreased 19% year-over-year to 20 days.
024 025
Q4 2016 BOSTON MARKET REPORT
11
Charlestown
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 20
MEDIAN ASKING PRICE $995,000
NUMBER OF SALES 11
MEDIAN SALE PRICE $1,200,000
MEDIAN SALE PPSF $508
DAYS ON MARKET 21
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 84
MEDIAN ASKING PRICE $627,000
NUMBER OF SALES 71
MEDIAN SALE PRICE $610,000
MEDIAN SALE PPSF $650
DAYS ON MARKET 23
SINGLE FAMILY
CONDO
19
$900,000
15
$732,500
$515
40
75
$579,999
71
$555,000
$634
18
15
$1,249,000
18
$1,230,500
$603
21
131
$599,900
101
$590,000
$678
20
33.3%
-20.3%
-38.9%
-2.5%
-15.7%
0.0%
-35.9%
4.5%
-29.7%
3.4%
-4.2%
15.0%
5.3%
10.6%
-26.7%
63.8%
-1.4%
-47.5%
12.0%
8.1%
0.0%
9.9%
2.5%
27.8%
Single family inventory was essentially flat in
Charlestown, but the median asking price increased
almost 11% to $995K. The number of sales dropped
27% year-over-year to 11 closings, the lowest fourth
quarter since Q4 2012. Median sale price, however,
increased 64% from the fourth quarter last year to
$1.2M, representing the second highest median
price on record. Median days on market decreased
48% year-over-year to 21 days.
Available condo listings in Charlestown increased
12% year-over-year to 84 units. There were exactly
the same number of sales in Q4 2016 and Q4 2015
(71 units), but median sale price increased 10% year-
over-year to $610K, setting a new fourth-quarter
record. Median days on market extended to 23 days,
up 28% year-over-year, but still a very low figure.
026 027
Q4 2016 BOSTON MARKET REPORT
12
Downtown Boston
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 0
MEDIAN ASKING PRICE N/A
NUMBER OF SALES 0
MEDIAN SALE PRICE N/A
MEDIAN SALE PPSF N/A
DAYS ON MARKET N/A
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 97
MEDIAN ASKING PRICE $1,875,000
NUMBER OF SALES 51
MEDIAN SALE PRICE $1,980,000
MEDIAN SALE PPSF $1,278
DAYS ON MARKET 41
SINGLE FAMILY
CONDO
1
$850,000
1
$789,000
$538
17
66
$1,596,500
36
$1,175,000
$919
47
0
N/A
1
$1,225,000
$491
22
107
$1,850,000
102
$1,647,500
$1,279
26
-
-
-100.0%
-
-
-
-9.3%
1.4%
-50.0%
20.2%
-0.1%
57.7%
-100.0%
-
-100.0%
-
-
-
47.0%
17.4%
41.7%
68.5%
39.0%
-12.8%
There was no single family activity this quarter in
Downtown Boston, due to limited existing inventory.
The most recent sales include a $1.2M-home at 31 Oak
Street and a $789K-home at 3 Lyndeboro Place, closed
in Q3 2016 and Q4 2015 respectively.
The Downtown Boston condo market followed up an
extremely active third quarter with a strong fourth quarter
to end 2016, continued to be driven by the Millennium
Tower at 1 Franklin Street. There were 97 available condos
on market in Q4 2016, up 47% year-over-year. The number
of sales increased 42% year-over-year to 51 units. Median
sale price increased 69% year-over-year to $2M, breaking
the $1.7M record set in the previous quarter. Median days
on market was down 13% year-over-year to 41 days.
Please note that Downtown Boston refers to the collection of
neighborhoods including Chinatown, Downtown Boston,
Financial District, Leather District, and Midtown.
028 029
Q4 2016 BOSTON MARKET REPORT
13
East Boston
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 16
MEDIAN ASKING PRICE $426,000
NUMBER OF SALES 6
MEDIAN SALE PRICE $400,000
MEDIAN SALE PPSF $289
DAYS ON MARKET 28
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 85
MEDIAN ASKING PRICE $439,000
NUMBER OF SALES 53
MEDIAN SALE PRICE $479,000
MEDIAN SALE PPSF $552
DAYS ON MARKET 23
SINGLE FAMILY
CONDO
12
$382,400
5
$338,500
$244
45
48
$339,450
30
$313,892
$342
31
17
$409,000
4
$427,500
$293
35
77
$419,000
44
$412,500
$472
27
-5.9%
4.2%
50.0%
-6.4%
-1.2%
-21.4%
10.4%
4.8%
20.5%
16.3%
16.9%
-14.8%
33.3%
11.4%
20.0%
18.2%
18.7%
-38.9%
77.1%
29.3%
76.7%
52.9%
61.3%
-25.8%
The single family market in East Boston was strong in
the fourth quarter compared to the fourth quarter a year
ago. Inventory rose 33% year-over-year to 16 available
homes, while median asking price increased 11% to $426K.
One more transaction occurred this quarter compared to
the fourth quarter last year, resulting in 6 closings with
an 18%-increase year-over-year in median sale price to
$400K. Median days on market decreased 39% year-
over-year to 28 days.
The condo market in East Boston had a record fourth
quarter. Inventory increased 77% year-over-year to 85
available units. Sales also increased 77% year-over-year
to 53 transactions, representing the highest number of
sales on record. Median sale price was also an all-time
high, up 53% year-over-year to $480K. Median days on
market decreased 26% year-over-year to 23 days.
030 031
Q4 2016 BOSTON MARKET REPORT
14
North End/Waterfront
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 0
MEDIAN ASKING PRICE N/A
NUMBER OF SALES 0
MEDIAN SALE PRICE N/A
MEDIAN SALE PPSF N/A
DAYS ON MARKET N/A
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 61
MEDIAN ASKING PRICE $1,199,000
NUMBER OF SALES 48
MEDIAN SALE PRICE $787,500
MEDIAN SALE PPSF $927
DAYS ON MARKET 23
SINGLE FAMILY
CONDO
0
N/A
0
N/A
N/A
N/A
59
$725,000
41
$660,000
$769
39
0
N/A
0
N/A
N/A
N/A
103
$899,000
66
$777,500
$866
32
-
-
-
-
-
-
-40.8%
33.4%
-27.3%
1.3%
7.0%
-29.7%
-
-
-
-
-
-
3.4%
65.4%
17.1%
19.3%
20.5%
-42.3%
There has been no available single family inventory in the North End/Waterfront market since 2014.
Condo inventory in North End/Waterfront was consistent
with the fourth quarter 2015, increasing 3% year-over-year
to 61 available listings. Median asking price, however,
jumped 65% year-over-year to $1.2M, primarily driven by
The Residences at The InterContinental and resales at Union
Wharf. The 48 condo sales represented a 17% year-over-year
increase and median sale price set a fourth-quarter record
at $788K, up almost 20% compared to the same quarter last
year. Median days on market decreased 42% year-over-year
to 23 days.
032 033
Q4 2016 BOSTON MARKET REPORT
15
Seaport
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 0
MEDIAN ASKING PRICE N/A
NUMBER OF SALES 0
MEDIAN SALE PRICE N/A
MEDIAN SALE PPSF N/A
DAYS ON MARKET N/A
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 10
MEDIAN ASKING PRICE $944,950
NUMBER OF SALES 11
MEDIAN SALE PRICE $785,000
MEDIAN SALE PPSF $1,000
DAYS ON MARKET 26
SINGLE FAMILY
CONDO
0
N/A
0
N/A
N/A
N/A
20
$764,450
10
$942,250
$787
25
0
N/A
0
N/A
N/A
N/A
36
$714,500
44
$682,500
$1,082
16
-
-
-
-
-
-
-72.2%
32.3%
-75.0%
15.0%
-7.6%
62.5%
-
-
-
-
-
-
-50.0%
23.6%
10.0%
-16.7%
27.1%
4.0%
There has been no available single family inventory in the
Seaport market since 2014.
Condo inventory in Seaport decreased 50% year-over-year
to 10 units, while median asking price increased 24% year-
over-year to $945K. The number of sales increased from
10 units to 11 units year-over-year, while median sale price
decreased 17% to $785K. Median days on market increased
4% year-over-year to 26 days.
034 035
Q4 2016 BOSTON MARKET REPORT
16
South Boston
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 27
MEDIAN ASKING PRICE $829,900
NUMBER OF SALES 15
MEDIAN SALE PRICE $829,900
MEDIAN SALE PPSF $432
DAYS ON MARKET 22
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 234
MEDIAN ASKING PRICE $699,000
NUMBER OF SALES 140
MEDIAN SALE PRICE $650,000
MEDIAN SALE PPSF $643
DAYS ON MARKET 19
SINGLE FAMILY
CONDO
16
$564,500
10
$577,000
$392
74
177
$575,000
135
$585,000
$555
25
26
$749,450
20
$685,750
$438
19
212
$649,000
181
$650,000
$636
21
3.8%
10.7%
-25.0%
21.0%
-1.4%
18.9%
10.4%
7.7%
-22.7%
0.0%
1.0%
-9.5%
68.8%
47.0%
50.0%
43.8%
10.3%
-70.1%
32.2%
21.6%
3.7%
-11.1%
15.7%
-24.0%
Single family supply in South Boston exhibited strong
growth this quarter. The number of available listings
increased 69% year-over-year to 27 homes, and median
asking price increased 47% year-over-year to $830K.
Demand was also strong compared to the same quarter
last year. There was a 50% year-over-year increase in
the number of sales to 15 homes, accompanied by a 44%
year-over-year rise in median sale price to $830K.
Median days on market decreased by an astounding 70%
year-over-year to 22 days, mainly due to relatively limited
supply and low pricing compared to other neighborhoods.
The condo market in South Boston was strong as well.
Inventory rose 32% year-over-year to 234 units, while
median asking price increased 22% to $699K. The number
of sales increased slightly by 4% year-over-year to 140
units with a median sale price of $650K, up 11% year-
over-year. Median days on market dropped 24% year-
over-year to 19 days.
036 037
Q4 2016 BOSTON MARKET REPORT
17
West End
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 0
MEDIAN ASKING PRICE N/A
NUMBER OF SALES 0
MEDIAN SALE PRICE N/A
MEDIAN SALE PPSF N/A
DAYS ON MARKET N/A
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 11
MEDIAN ASKING PRICE $605,000
NUMBER OF SALES 2
MEDIAN SALE PRICE $489,500
MEDIAN SALE PPSF $646
DAYS ON MARKET 10
SINGLE FAMILY
CONDO
0
N/A
0
N/A
N/A
N/A
14
$681,500
8
$497,000
$531
37
0
N/A
0
N/A
N/A
N/A
17
$595,000
12
$495,688
$645
17
-
-
-
-
-
-
-35.3%
1.7%
-83.3%
-1.2%
0.2%
-42.4%
-
-
-
-
-
-
-21.4%
-11.2%
-75.0%
-1.5%
21.7%
-74.0%
There has been no available single family inventory in the West End market since 2008.
The condo market in West End slowed this quarter
compared to the fourth quarter last year. Inventory
decreased 21% year-over-year to 11 units and the median
asking price decreased 11% to $605K. The number of sales
dropped 75% year-over-year to 2 units with a median sale
price of $490K, down 2% year-over-year.
038 039
Q4 2016 BOSTON MARKET REPORT
18
Brookline
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 51
MEDIAN ASKING PRICE $2,499,000
NUMBER OF SALES 39
MEDIAN SALE PRICE $1,280,000
MEDIAN SALE PPSF $508
DAYS ON MARKET 26
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 106
MEDIAN ASKING PRICE $780,000
NUMBER OF SALES 110
MEDIAN SALE PRICE $735,000
MEDIAN SALE PPSF $605
DAYS ON MARKET 21
SINGLE FAMILY
CONDO
49
$1,750,000
37
$1,301,000
490
21
113
$675,000
100
$667,500
$607
21
78
$2,097,500
59
$1,650,000
$523
22
170
$767,450
162
$765,000
$617
20
-34.6%
19.1%
-33.9%
-22.4%
-2.9%
18.2%
-37.6%
1.6%
-32.1%
-3.9%
-1.9%
5.0%
4.1%
42.8%
5.4%
-1.6%
3.7%
23.8%
-6.2%
15.6%
10.0%
10.1%
-0.3%
0.0%
Single family inventory in Brookline increased by
4% year-over-year to 51 homes in Q4 2016, while the
median asking price for the available listings increased
43% year-over-year to $2.5M. The number of sales
increased 5% year-over-year to 39 homes while median
sale price decreased 2% to $1.3M. Median days on market
increased 24% year-over-year to 26 days.
There was a 6% year-over-year decrease in Brookline
condo inventory to 106 units, with a 16% increase in
median asking price. The number of sales increased
10% year-over-year to 110 units, and median sale price
also increased 10% to $735K.
040 041
Q4 2016 BOSTON MARKET REPORT
19
Cambridge
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 30
MEDIAN ASKING PRICE $1,590,000
NUMBER OF SALES 25
MEDIAN SALE PRICE $1,390,000
MEDIAN SALE PPSF $688
DAYS ON MARKET 20
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 168
MEDIAN ASKING PRICE $699,900
NUMBER OF SALES 147
MEDIAN SALE PRICE $725,000
MEDIAN SALE PPSF $710
DAYS ON MARKET 17
SINGLE FAMILY
CONDO
29
$1,195,000
27
$1,010,000
$538
29
127
$599,900
118
$614,000
$633
16
38
$1,542,000
29
$1,135,000
$661
15
261
$680,000
232
$660,000
$712
15
-21.1%
3.1%
-13.8%
5.7%
4.0%
33.3%
-35.6%
2.9%
-36.6%
9.8%
-0.4%
13.3%
3.4%
33.1%
-7.4%
37.6%
27.8%
-31.0%
32.3%
16.7%
24.6%
18.1%
12.1%
6.3%
Available single family inventory in Cambridge
increased just 3% year-over-year, with a 33% increase
in median asking price to $1.6M. Twenty-five homes
were sold in the fourth quarter, down 7% year-over-year.
However, median sale price increased 38% year-over-
year to $1.4M, generally due to higher asking prices
in Cambridge. Average negotiability was +3% this
quarter, and median days on market decreased 31%
year-over-year to 20 days, both of which indicate a
very competitive market.
Inventory, sales and median prices all increased in the
Cambridge condo market this quarter. There were 168
units available in the fourth quarter, an increase of 32%
compared to the same quarter last year. The number of
sales climbed 25% year-over-year to 147 condos. Both
median asking price and median sale price increased,
by 17% year-over-year to $700K and 18% year-over-year
to $725K, respectively.
042 043
Q4 2016 BOSTON MARKET REPORT
20
Newton
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 133
MEDIAN ASKING PRICE $1,199,000
NUMBER OF SALES 117
MEDIAN SALE PRICE $1,001,000
MEDIAN SALE PPSF $409
DAYS ON MARKET 22
Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%
LISTING INVENTORY 110
MEDIAN ASKING PRICE $849,000
NUMBER OF SALES 68
MEDIAN SALE PRICE $727,000
MEDIAN SALE PPSF $391
DAYS ON MARKET 28
SINGLE FAMILY
CONDO
175
$1,249,000
136
$1,090,250
$404
37.5
112
$674,450
87
$595,000
$387
32
212
$1,100,000
189
$1,090,000
$426
31
155
$725,000
107
$685,000
$416
22
-37.3%
9.0%
-38.1%
-8.2%
-4.0%
-29.0%
-29.0%
17.1%
-36.4%
6.1%
-6.2%
27.3%
-24.0%
-4.0%
-14.0%
-8.2%
1.1%
-41.3%
-1.8%
25.9%
-21.8%
22.2%
1.0%
-12.5%
Single family inventory in Newton experienced a 24%
year-over-year decrease to 133 homes, with a minor 4%
drop in median asking price to $1.2M. The number of sales
decreased 14% year-over-year to 117 units and median sale
price decreased 8% to $1M. Days on market dropped 41%
year-over-year to 22 days.
The number of available condos in Newton this quarter
was about the same as Q4 2015, down 2% to 110 units.
However, the median asking price increased 26% year-
over-year to $849K. There was a 22% year-over-year
decrease in the number of sales to 68 units, while median
sale price increased 22% to $727K. Median days on market
went down 13% year-over-year to 28 days.
44 45
Q4 2016 BOSTON MARKET REPORT
research@compass.com
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Q4 2016 BOSTON MARKET REPORT
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