There has been an upswing in readers searching for average price of condos in Boston, and we thought we would answer the question based on information in the Boston MLS. Here is the average sales price for Boston* condos that sold during the past three calendar years, including the five months that we have seen thus far in 2007.
- 2004: Average Price = $579,637
- 2005: Average Price = $640,171
- 2006: Average Price = $640,240
- 2007: Average Price = $729,665
How accurate is this information? You need to take it with a grain of salt, or perhaps a few grains. This information represents the average price for all the condos that sold across Boston (note the selected neighborhoods below, focusing on the core of Boston only). Keep in mind, the average is heavily influenced by the mix of homes that sold during a particular year (i.e. 2007 is on track for more ultra-expensive homes to be sold than in 2006).
Whereas the average Boston condo price may not provide a completely accurate picture of market pricing, assessed values are oftentimes inaccurate as well, or perhaps sometimes not a fair representation of price for various reasons. Use the information as a guide, noting the items that can have a significant impact on the number.
*Back Bay, Beacon Hill, Chinatown, Financial District, Leather District, Midtown, North End, Seaport District, South End, The Fenway, Theatre District, Waterfront, West End