The 2009 downtown Boston parking space sales numbers have been compiled, and year over year, while volume was down, average and median sales prices have remained stable.
According to LINK (one of two Boston MLS systems), the number of parking spaces that sold in downtown Boston during 2009 was 65, down from a 2008 volume of 97. Average sales price fell slightly to approximately $94,000, and median sales price rose slightly to $67,000.
2009 Boston Parking Space Sales Statistics:
Number Sold: 65
Average: $94,420
Median: $67,000
Average DOM: 132 days
2008 Boston Parking Space Sales Statistics:
Number Sold: 97
Average: $99,641
Median: $65,000
Average DOM: 136 days
The economics (i.e. supply and demand) behind parking spaces in the heart of the city continue to bolster the appeal and stature of owning a space outright, for those who simply need a place to park a vehicle either inside or out, or those looking to build a stable and diversified investment portfolio.
2010 is off to a quick start, with the latest Boston parking spot sale taking place at the Ritz Carlton (2 Avery Street) in Boston’s Midtown neighborhood – the space in the self-park secured Ritz Carlton garage sold for $88,000.
For more information on deeded parking spaces in Boston, see our comprehensive page of Boston parking space listings.
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