Real Estate News

The latest news about the residential real estate market in Boston and the surrounding areas

CHARLESTOWN CONDO SALE PRICE HITS $765,383

From Boston Realty Advisors:

“This year, the average list price for a condominium in Charlestown is $750,010, with the average sale price reaching $765,383. In the past 6 years, sale prices have surpassed the average list prices by 2%, indicating the high demand for condos in this historic sub-market.

Since 2012, the average condominium sale price has increased by 62%, with the average number of sold condos priced over $1m increasing 13% y-o-y.

The average sold price per square-foot in 2018 has reached $742, with the average days to offer at just 23. Charlestown has pivoted into an attractable destination for several reasons:

  • Convenient access to Downtown Boston, Logan Airport and 93 North
  • More spacious unit layouts compared to those in similar sub-markets
  • Ease of parking and family friendly atmosphere

Today, the 18% closing difference between one and two-bedrooms suggest the rising demand for one-bedrooms, and ultimately how young-professionals are absorbing the existing supply. Given the larger unit sizes for two and three-bedrooms, Charlestown is a desirable location for transitioning families as well, by evidence of 3-bedrooms costing 18% less PSF than 1-bedrooms.”

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