Q 4 BOSTON MARKET REPORT › cf13c9df-4ba...Q4 2016 BOSTON MARKET REPORT This page provides a snapshot of Q4 2016 market conditions by property type and neighborhood. Please note that

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


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


03


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


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


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


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


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


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


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


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


08


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


09

Back Bay/Beacon Hill

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 3


MEDIAN SALE PPSF $1,232

DAYS ON MARKET 97

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 109



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


10

Bay Village/South End

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 7



DAYS ON MARKET 32

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 106



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


11

Charlestown

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 11



DAYS ON MARKET 21

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 71



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


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%



NUMBER OF SALES 51



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


13

East Boston

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 6



DAYS ON MARKET 28

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 53



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


14

North End/Waterfront

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%

LISTING INVENTORY 0


NUMBER OF SALES 0



DAYS ON MARKET N/A

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 48



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


15

Seaport

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%

LISTING INVENTORY 0


NUMBER OF SALES 0



DAYS ON MARKET N/A

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 11



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


16

South Boston

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 15



DAYS ON MARKET 22

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 140



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


17

West End

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%

LISTING INVENTORY 0


NUMBER OF SALES 0



DAYS ON MARKET N/A

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 2



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


18

Brookline

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 39



DAYS ON MARKET 26

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 110



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


19

Cambridge

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 25



DAYS ON MARKET 20

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 147



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


20

Newton

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 117



DAYS ON MARKET 22

Q4 2016 Q4 2015 YOY% Q3 2016 QQQ%



NUMBER OF SALES 68



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


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Q 4 BOSTON MARKET REPORT › cf13c9df-4ba...Q4 2016 BOSTON MARKET REPORT This page provides a snapshot of Q4 2016 market conditions by property type and neighborhood. Please note that