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3Q 2022 Boston Condo Market Update

Sale Transactions

2022 has been an interesting year so far. The sales transactions have rebounded to pre-pandemic levels, but the number of sales is down from last year due to some new development closings that increased the total number of sales in 2021 (i.e. Echelon, The Ceinture, The Mezz, and a small handful of other smaller developments).

Price Trends

Even with rising interest rates, the average and median sale prices continue to climb. Approximately 45% of the +/- 2,400 sales to date this year have been $1 Million or over, while only 7% were $500,000 or under. Approximately 51% of all sales achieved net sale prices $1,000 per square foot or above