Gibson Sotheby's International Realty - Market Update 2015

BOSTON &
CAMBRIDGE
REAL
ESTATE
MARKET
UPDATE
2015 IN REVIEW
each office is independently owned and operated
gibsonsothebysrealty.com | 1
boston real
estate market
city wide
market data
neighborhood
market updates
rental market
update
momentum.
growth.
foundation.
1 | gibsonsothebysrealty.com
5 - 18
19
20 - 21
all neighborhood information sourced from LINK

cambridge, dorchester & east boston sourced from mls
rental information sourced from zumper.com
A
LETTER
FROM
OUR
OWNERS
ere at Gibson Sothebys International Realty we are proud to be part of such an extraordinary network
and all of its outstanding achievements. The power of the Sothebys brand has been palpable throughout
our history as a company and carries through to today as we continue to move forward in this ever changing
world. We are constantly amazed at the quality not only of our team but of the Sothebys agents in our global
network.
Since joining the Sothebys brand we have grown significantly and will continue to see this growth throughout
2016. When acquired, our company was operating with 70 agents and $250 million in sales per year. Eight years
later we are nearly 250 agents, eight offices and have just exceeded the incredible billion dollar mark for a third
consecutive year. This is an amazing feat for a company our size.
We are so fortunate to be backed by our own in-house marketing team of five dedicated professionals,
a Relocation Department, a Rental Department, a network that encompasses over 17,000 dedicated
professionals and more who are all steadfastly working together as we continue to grow.
Gibson Sothebys International Realty is uniquely qualified to assist you in purchasing or selling your most
valuable possession- your home. Allow us to be a resource and share our extensive knowledge and
tremendous experience with you.
Contact us today at info@gibsonsir.com or 866.766.7356.
Yours truly,
Larry and Paul
Larry Rideout
CEO, Owner
Paul McGann
President, Owner
THE
BOSTON
REAL
ESTATE
MARKET
he Greater Boston real estate market saw

huge advances in 2015 with a number of new
luxury buildings and record selling prices. The market
continues to transform as new buildings are catering
4 of the
countrys hottest
real estate
markets are in
Boston
to those who are flocking to the city including empty

nesters and millennials said to make up most of the
buying population in 2016.
Empty nesters were named as the number one
demographic that will flock to the city in 2016. This
generation wants to be in a walkable neighborhood
surrounded by restaurants, shopping and public
transportation. Convenient locations are key.
Furthermore the increase in brand new developments
and full service buildings throughout the city has
drawn this demographic in as they downsize. These
new developments include key features such as
parking garages, concierge services, elevators and
much more.
In addition, millennials are reshaping the housing
market and are said to increasingly settle in cities
throughout the United States in 2016 transitioning
from renting to owning. This generation will play a
large role in markets across the nation including
Boston, according to Realtor.com.
This younger generation of home buyers is gravitating
towards cities that have an abundance of jobs and a
trendy atmosphere of their own. With the number of
Universities, hospitals and job opportunities in Boston,

there is no surprise that the area is to see an increase
in the number of millennial home buyers in 2016.
Where will these buyers be flooding to specifically?
It has been reported by the Boston Globe that of the
top-10 hottest real estate markets in the country
four of those are in Boston. Ranked on seven factors
including price increases, days on market and bidding
wars, these four areas are without a doubt said to see
an increase in buyers this year.
Cambridges Inman Square ranked number one on
that list with a $660,000 median sales price and
homes going for 68 percent over the asking price.
The other neighborhoods ranking highly include
the Brighton-Allston area at number 3, Spring Hill
in Somerville at number 6 and Cambridgeport at
number 10.
These four metro areas have set themselves apart
in terms of attracting and creating high-wage jobs
in tech, pharma, and finance and that has heated up
the local housing market, according to a local chief
economist . When a short supply of homes collides
with high-income homebuyers you get this hot, hypercompetitive climate.
With an influx
of buyers and
an increase in
inventory, it
Inman Square
is without a
saw median
doubt that the
housing market
sale price of
in the Greater
Boston area will
remain strong
throughout 2016.
It can be said
that residential
real estate is amidst one of its best years since the
recession!
$660,000
Sources: Realtor.com, Boston Globe, Boston.com
CITYWIDE MARKET DATA

39% of sales sold for over asking
2015 CITYWIDE
RECORDS
Avg Selling
Median Selling
Avg PSF
Median PSF
Dollar Volume
$965,130
$680,000
$808.90
$747.96
$3,099,033,234
Citywide improvements have

been displayed across the board
in 2015. After a slight decrease
last year, the number of sales
increased to a total of 3,211 in
2015. Additionally, the average sale
price and average price per square
foot both reached a new high.
Demand has remained strong over
the past 2 years as the average
days properties have been listed
on the market remains at a low of
44 days.
info@gibsonsir.com | 4
CAMBRIDGE
Across the river from Boston proper is
Cambridge, home of prestigious universities
like MIT and Harvard. With several distinct
squares (Harvard Square, Central Square and
Kendall Square), Cambridges diversity appeals
to many people. It is also made convenient
by the MBTA Red Line subway. Cambridge is
home to a variety of unique restaurants and
shops, as well as historically and culturally
significant landmarks. Surrounding areas include
Watertown, Somerville and the famous Charles
River.
Average
sale price
increased to
$888,165
2012
2013
2014
2015
NUMBER OF SALES
1070
1044
856
786
AVERAGE SALE PRICE
$663,815
$731,760
$830,118
$888,165
AVERAGE $PSF - CONDOS
$476
$518
$553
$636
AVERAGE $PSF - SINGLE-FAM
$470
$511
$574
$612
AVERAGE $PSF - MULTI-FAM
$327
$354
$406
$431
AVERAGE DOM
55
37
36
32
A lack of inventory of homes for sale in Cambridge has led to a drop in sales.
257 MT AUBURN ST | SOLD
ORIGINAL LIST PRICE | $2,488,000
Demand for the area continues to grow as the average sale price along with the
average price per square foot continues to increase across the board. While DOM is
at a low of 32 days.
BACK BAY
The Back Bay lays claim to some of the most
exclusive real estate in Boston. A stroll down
Newbury Street will take you from haute
couture to haute cuisine, offering exclusive
fashion boutiques and elegant restaurants with
world renowned chefs. Commonwealth Avenue
has some of the most elegant townhouses
in the city, along with the pedestrian-friendly
Commonwealth Avenue Mall - a picturesque,
tree-lined green, dotted with sculptures and
park benches. Marlborough Street has become
a lovely refuge from the bustling shops. Back
Bay is also home to the Public Gardens, Boston
Common, the Charles River Esplanade and the
historic Boston Public Library.
$1,111
Average price per

square foot at
a new high
In 2015 33% of sales

sold for over asking
2012
2013
2014
2015
NUMBER OF SALES
575
514
442
439
AVERAGE SALE PRICE
$1,161,133
$1,233,984
$1,473,265
$1,575,710
AVERAGE $PSF
$808.23
$898.52
$993.17
$1,111.45
AVERAGE DOM
98
62
56
52
D emand to live in the Back Bay area of Boston continues to be strong. A shortage
of homes for sale in comparison to previous years resulted in a slight drop of total
sales while the average price per square foot continued on an upward trend. The
average days on market continues to decrease signifying strong demand for the area.
130 COMMONWEALTH AVE | SOLD

SOUTH END
The South End, with its blocks of Victorian
brick row houses, upscale restaurants and art
galleries, has become one of the most popular
places to live in Boston. It is a classic mix of
old and new, and many of the row houses
underwent renovation starting in the 1960s.
Today, the neighborhood is filled with a diverse
mix of families and young professionals and
houses a culturally diverse community and a
thriving artistic center. Trendy restaurants brush
shoulders with coffee shops and Mom & Pop
grocery stores along Tremont Street and its side
streets all the way down to Washington Street,
which is experiencing an artistic revival.
Average price
per square foot
increased by
11.56%

2012
2013
2014
2015
NUMBER OF SALES
646
705
632
700
AVERAGE SALE PRICE
$707,756
$809,342
$866,473
$980,406
AVERAGE $PSF
$629.71
$707.64
$780.45
$870.68
AVERAGE DOM
61
33
34
38
T he South End saw a dramatic increase in sales in 2015 reaching a high
24 UNION PARK | SOLD

of 700 sales. Over the past 5 years, sales have remained strong while the
average selling price continued on an upward trend. Since 2012 the number of
DOM has decreased significantly while the average price per square foot has
consistently been on an upward trend.
BEACON
HILL
Beacon Hill today is a close-knit community
in a downtown location. The neighborhoods
cobblestone streets and brick rowhouses
directly border the Boston Common and the
Public Garden, Americans first botanical garden.
The gold leaf of the State House Rotunda
adorns the hill and shines across the Common.
The base of the hill is home to Charles Street,
with its charming boutiques, antique shops,
specialty grocery stores and romantic dining
establishments. This historic neighborhood
offers some of the finest classic Boston
architecture, including Louisburg Square.
Average days on
market down to
32 days

2012
2013
2014
2015
NUMBER OF SALES
219
170
175
193
AVERAGE SALE PRICE
$721,406
$804,061
$939,016
$803,608
AVERAGE $PSF
$730.32
$801.87
$889.93
$926.85
AVERAGE DOM
77
44
47
32
L ower days on the market and an increase in sales on Beacon Hill shows that
demand remains strong in the area. The number of sales increased while the
average price per square foot hit a new high of $926.85.
8 BYRON STREET | SOLD

SOUTH
BOSTON
Southie, as referred to by locals, boasts miles
of beaches and waterfront parks that culminate
in Castle Island. There, visitors can enjoy the
Revolutionary War era fort, get a bite to eat at
Sullivans, play in the playground, fish off the pier
or simply take a stroll. South Boston is densely
populated and is known for triple-deckers and
row houses, but there are single family homes in
the neighborhood too. South Boston is home to
a great variety of bars, pubs and new restaurants.
Year round, a visitor can find residents strolling
up and down Broadway doing their shopping
and greeting their neighbors.
Average sale price

at a new high
$581,967
2012
2013
2014
2015
NUMBER OF SALES
689
748
732
726
AVERAGE SALE PRICE
$416,958
$451,541
$514,418
$581,967
AVERAGE $PSF
$389.78
$458.79
$500.97
$549.57
AVERAGE DOM
75
38
50
37
B uyer demand fueled by lack of inventory continues to put upward pressure on

prices in South Boston. It is clear that the number of buyers continues to grow
as the average price per square foot met a new high, with the average days on
market remaining low at just 37 days.
150 DORCHESTER AVE #602 | SOLD

ORIGINAL LIST PRICE | $689,000
SEAPORT
Due to its prime location on Boston Harbor,
the Seaport District of South Boston has seen
revitalization over the last ten years. In addition
to a variety of residential loft buildings, there are
many new hotels and restaurants. It is also home
to the Institute for Contemporary Art and the
new Boston Convention Center. The Seaport
offers outstanding views of the harbor, both of
the sailboats on the water and the skyline of
Downtown.
Sales more
than doubled
to new high
184

2012
2013
2014
2015
NUMBER OF SALES
120
88
83
184
AVERAGE SALE PRICE
$699,834
$673,171
$799,981
$1,833,969
AVERAGE $PSF
$509.70
$565.24
$610.37
$1,107.66
AVERAGE DOM
85
61
55
52
T he Seaport, categorized as one of the fastest growing neighborhoods, realized

a dramatic increase in sales during 2015 over 2014. Average days on market
continues to steadily decrease as the average price per square foot hit a new
high of $903.95 demonstrating a high demand for the area.
25 CHANNEL CENTER PH 104 | SOLD

WATERFRONT
Next to the North End sits a historic collection
of wharfs along Bostons inner harbor, offering
some of the most beautiful harbor views in the
city. Many of the original buildings have been
converted from warehouses into lofts and
luxury condominiums.
Average price
per square foot
hits new high
$903
It is also home to the new Intercontinental

hotel and luxury residences. Near to the North
End, the Financial District, Haymarket and the
Seaport, the Waterfront offers fine dining and
shops along with splendid views of the ocean.
In 2015 7% of sales
2012
2013
2014
2015
NUMBER OF SALES
185
171
157
154
AVERAGE SALE PRICE
$917,615
$1,008,304
$1,111,163
$1,195,327
AVERAGE $PSF
$692.83
$771.47
$815.10
$903.95
AVERAGE DOM
108
77
75
69
A lthough sales remained consistent in the Waterfront, the amount of inventory
4 BATTERY WHARF #4505 | SOLD

is not meeting buyer demand. A decrease in the average days on the market
continues to prove that demand to purchase in this area is rapidly improving. The
average sale price along with the average price per square foot continues to be on
an upward trend.
NORTH END
The North End is most famous for its plethora
of Italian restaurants and strong ties to Italian
roots. With a different Italian Festival every
weekend throughout the summer, there is rarely
a dull moment in the North End.
Average $psf
increases to
$752
It is also home to the Old North Church, made

famous by Paul Revere. Several recently built
mid-rise buildings offer tremendous views of
Boston Harbor, as well as access to nearby
comedy clubs, restaurants and pastry shops.

2012
2013
2014
2015
NUMBER OF SALES
99
119
100
100
AVERAGE SALE PRICE
$472,925
$512,600
$615,047
$590,937
AVERAGE $PSF
$615.22
$677.40
$739.10
$752.37
AVERAGE DOM
62
55
62
55
S ales in the North End remained consistent in 2015, while the average $PSF
has never been higher reaching a new high of $752.37. A strong demand to buy
meant days on the market was back down to 55 days.
301 NORTH STREET #1 | SOLD

MIDTOWN
Downtown is really the heart of the city,
bordered by Back Bay, Beacon Hill and the
North End/Waterfront. In addition to Boston
City Hall and the State House, many companies
and agencies house their headquarters in the
area.
Average sale price

increases to
$1,344,123
The area comes alive each weekday around

noontime as thousands of corporate business
folks and other downtown employees break
for lunch or run errands. It is home to Faneuil
Hall and Quincy Market, two of Bostons most
famous tourist attractions. The Rose Kennedy
Greenway offers a lovely eastern edge of the
Downtown area.

2012
2013
2014
2015
NUMBER OF SALES
147
329
274
181
AVERAGE SALE PRICE
$1,067,332
$1,236,195
$1,302,801
$1,344,123
AVERAGE $PSF
$845.47
$903.60
$919.71
$930.49
AVERAGE DOM
110
54
41
73
A fter skyrocketing in 2013, a dip in sales displayed in Midtown is the result of lack
of inventory. The average sale price and price per square foot continues to increase
year over year demonstrating an increase of value.
2 AVERY STREET U:PH1C/B | SOLD

FENWAY
The Fenway, perhaps best known as the home
of the Red Sox, is more than just a ballpark,
its actually a dense urban neighborhood with a
considerable amount of green space. Although
the Fenway consists of a large number of
college students, it also contains a significant
population of professionals. Landsdowne Street,
bordering the Mass Pike on the North and
Fenway Park on the South. Fenway is also home
to several universities, the Museum of Fine Arts
and the Isabella Stewart Gardner Museum. If
you spend time in the Fenway, make sure to
keep your eyes open for the occasional home
run ball that clears the green monster.
Average price
per square foot
increases
9.8%

2012
2013
2014
2015
NUMBER OF SALES
187
191
200
122
AVERAGE SALE PRICE
$354,358
$405,866
$496,022
$497,561
AVERAGE $PSF
$521.21
$593.29
$630.18
$692.00
AVERAGE DOM
60
22
10
26
A decrease in the availability of property for sale in the Fenway area led to a
drop in sales although the average sale price continues to increase. The average
price per square foot hit a new peak in 2015 of $692.00 demonstrating a demand
for the area.
120 MOUNTFORT STREET #102 | SOLD

CHARLESTOWN
Located at the head of Boston Harbor,
Charlestown is essentially a 19th century village
with 16th century roots. Its historical heritage
has given it a charming gaslit ambience that
is appealing to young professionals who have
recently moved to the neighborhood, joining
families who have lived in Charlestown for
generations. Charlestowns streets are lined
with townhouses and workers cottages, as
well as modern condominiums that are either
newly constructed or converted from historic
buildings.
Sales increase
by nearly
20%

2012
2013
2014
2015
NUMBER OF SALES
363
450
309
369
AVERAGE SALE PRICE
$470,743
$559,824
$594,041
$639,120
AVERAGE $PSF
$447.53
$513.91
$562.77
$610.34
AVERAGE DOM
75
41
38
35
T he number of sales in Charlestown increased by nearly 20%, while the average

sale price and average price per square foot displayed improvements as well. The
average price per square foot hit a new tremendous high of $610.34. Demand
remains strong as the average DOM decreased to a new low of 35 days.
ONE HARVARD PLACE | SOLD

WEST END
The West End, considerably impacted by
Urban Renewal of the 1970s, is a small but
significant community tucked behind Beacon
Hill. Historically an ethnically diverse and
vibrant neighborhood, the West End today is
home to Massachusetts General Hospital. It is
a popular residential neighborhood for medical
staff from many nearby facilities, as well as
professionals who work Downtown. It is home
to Charles River Park, a high-rise residential
community convenient to Beacon Hill.
Average price
hits new high of
$533,938

2012
2013
2014
2015
NUMBER OF SALES
50
53
43
43
AVERAGE SALE PRICE
$395,050
$448,325
$457,232
$533,938
AVERAGE $PSF
$436.87
$513.88
$563.94
$593.98
AVERAGE DOM
50
56
37
51
T he West End saw an increase in average selling price with a new high of
$533,938. Sales have remained steady over the past two years while prices
continue in an upward trend demonstrating an increase in value.
8 WHITTER PLACE #9E| SOLD

EAST BOSTON
Though East Boston is well known as home to
the airport, it is also full of wonderful stores
and restaurants representing its different ethnic
groups. Long-time Italian restaurants stand next
to Brazilian cafes. Its housing is a mix of historic
and new, with many triple deckers lining its
streets. In recent years, homeowners have been
restoring the historic homes of the area to their
former glory. It is accessible from the MBTA
blue line.
Number of
sales reached a
new high of
235
2012
2013
2014
2015
NUMBER OF SALES
155
182
222
235
AVERAGE SALE PRICE
$261,845
$333,052
$394,486
$436,163
$245
$301
$330
$388
$174
$222
$242
$265
AVERAGE $PSF -MULTI-FAM
$121
$155
$181
$218
AVERAGE DOM
92
52
59
55
S ince 2013, the number of sales in East Boston has increased significantly. With the
239 WEBSTER STREET | SOLD
addition of many new developments, inventory has begun to meet buyer demand
to live in the area. The average sale price along with each average $PSF increased
signifying demand for the area.
DORCHESTER
Dorchester is Bostons largest neighborhood
and also its oldest, founded a few months before
the city itself. The neighborhoods historical
diversity is exhibited in its architecture,
from the old Victorian homes of wealthy
Bostonians to the multi-family dwellings of
later groups of immigrants. Today, Dorchester
retains its diversity. Its main thoroughfare,
Dorchester Avenue, connects many close-knit
neighborhoods and thriving commercial districts.
Some of its well known neighborhoods are
Savin Hill, Wellesley Park, Jones Hill, Ashmont
and Lower Mills. Dorchester is also home to the
University of Massachusetts at Boston and the
John F. Kennedy Library.
Average condo
price per square
foot up to
$323
2012
2013
2014
2015
NUMBER OF SALES
582
651
734
691
AVERAGE SALE PRICE
$304,076
$358,627
$392,114
$446,415
$192
$228
$253
$323
$171
$185
$211
$230
AVERAGE $PSF -MULTI-FAM
$161
$188
$218
$165
AVERAGE DOM
89
58
60
54
D emand to live in Dorchester continues to rise. Average sale prices along with
the average $PSF for condos, single-family homes and multi-family homes have rose
steadily over the past four years. Since 2012 the average days properties have been
listed on the market continues to decrease now at a low of 54 days.
25 CARRUTH STREET | SOLD

RENTALS
From economical studio apartments to luxury
rentals in some of Bostons finest full service
buildings, Gibson Sothebys International Realty
has an abundant inventory of homes for lease
that span all styles and price points. Their
dedicated rental agents can assist you in every
step of the process of finding your new rental
home- from locating the perfect neighborhood
that suits your needs to finding the home that
satisfies your style.
One bed prices

increased by
2.1%
R ental trends continue to be strong, especially in Cambridge as they are now

22 LIBERTY DRIVE #6D | SEAPORT
LISTED AT $17,000/MONTH
seeing some of the highest prices in the city. Prices for a one bedroom across
the city increased 2.1%. Median rents for a one bedroom have hit a new high
of $3,520 over $3,030 in 2014. In Bostons Back Bay neighborhood median
rents for a 2 bedroom are now at $4,460 over $4,020 in 2014.
MOMENTUM.
GROWTH.
FOUNDATION.
ibson Sothebys International Realty, Bostons

premier luxury real estate firm, displayed
tremendous growth and achievement in 2015. In
addition to adding a number of high caliber agents and
opening a brand new office, the firm exceeded the
incredible billion dollar sales volume closed mark for
the third year in a row (source MLS).
This achievement is an amazing

feat for a company our size having
to operate in a marketplace that was
very light on inventory
This achievement is an amazing feat for a company
our size having to operate in a marketplace that was
very light on inventory, stated Larry Rideout, Gibson
Sothebys International Realtys CEO/Owner. He
noted as they move forward in this ever changing
world, their continuous success is attributed to three
key factors Momentum. Growth. Foundation.
MOMENTUM
The quality of agents that have chosen to join Gibson
Sothebys International Realty over the past year
continue to make an impact in Boston, Cambridge
and the surrounding areas. We continuously strive
to take our service to the next level. I can say with
confidence that the agents we have added over the
last twelve months will represent the integrity of our
brand in every facet, noted Paul McGann, Gibson
Sothebys International Realtys Owner/President.
Momentum in 2015 for Gibson Sothebys
International Realty began with the addition of one
of Bostons top producing agents Michael Carucci.
Carucci consistently ranks in the top one percent in
real estate sales volume for the Greater Boston Area.

The culture and best in class management is what
really stood out with Gibson Sothebys International
Realty. Ownership cares and it shows, said Michael
Carucci. It didnt take long to see how the Sothebys
brand enhanced our existing established local brand.
This combination brought new business we would not
have otherwise received.
GROWTH
The opening of a brand new office conveniently
located on Massachusetts Avenue expanded the firms
exposure in Cambridge. As a result, Gibson Sothebys
International Realty recruited some of the areas
finest talent.
It didnt take long for me to make the decision to
move our team over to help establish the Sothebys
brand presence on this side of the Charles River,
noted Lauren Holleran. The Sothebys brand and
Cambridge are an incredibly natural fit for each other.
In the few months since we joined, weve already
exchanged business with other Sothebys International
Realty offices in Dallas, San Francisco, New Delhi,
and Maine it is amazing to be part of a network
recognized for the quality of the brand and the agents
associated with that.
It didnt take long for me to make

the decision to move our team over
to help establish the Sothebys brand
presence on this side of the Charles
River
Furthermore in Bostons Waterfront, Gibson
Sothebys International Realty moved into a new
space at the former site of Elite Boston Landmark

Realty where they acquired Toni Gilardi and her team.
Toni consistently ranks as one of the top agents in the
historic North End/Waterfront where she has been
a community fixture for decades, thus strengthening
their presence in Bostons Waterfront.
I knew the Sothebys brand was a

perfect fit and now am able to offer
my clients services that I could not in
the past.
Thrilled to be a part of the Gibson Sothebys
International Realty family, Toni Gilardi commented. I
decided that merging with a larger firm was the right
course of action after owning my own business for 31
years. I knew the Sothebys brand was a perfect fit and
now am able to offer my clients services that I could
not in the past.
In response to rapid growth, Gibson Sothebys
International Realty is in the process of doubling the
size of their Back Bay office located at the corner of
Newbury and Dartmouth Streets.
FOUNDATION
It is truly a pleasure to work for

such a well-established brand.When
meeting with a potential buyer or
seller I do not have to say much; the
brand sells itself.
Gibson Sothebys International Realty is known for
its culture which has consistently been that of a
family. All members of the Leadership team have

been extremely supportive of their staff being sure to
stay one step ahead of the competition, said Cathy
Marotta, a veteran that has been with the company
for over 30 years. It is truly a pleasure to work for
such a well-established brand. When meeting with a
potential buyer or seller I do not have to say much;
the brand sells itself.
Gibson Sothebys International Realty has grown
significantly since joining the Sothebys International
Realty brand. With the integration of new technology
the firm will continue to see this tremendous growth
throughout 2016.
About Gibson Sothebys International Realty:
Gibson Sothebys International Realty is Bostons
largest independent real estate company. Founded in
1962 by Betty Gibson in Bostons South End, the firm
has eight offices throughout Boston, Cambridge and
the surrounding areas. The international network of
more than 820 offices in 60 countries and territories,
and the relationship with Sothebys auction house, as
well as comprehensive online and print advertising in
high profile venues, provides remarkable exposure for
each home.
SOUTH END
556 Tremont Street
Boston, MA 02118
617.426.6900
WATERFRONT
350 Commercial Street
Boston, MA 02109
617.227.1000
CAMBRIDGE
1008 Massachusetts Avenue
Cambridge, MA 02138
617.945.9161
SAVIN HILL
199 Savin Hill Avenue
Dorchester, MA 02125
671.825.0800
BACK BAY
277 Dartmouth Street
Boston, MA 02116
617.375.6900
WESTWOOD
725 High Street
Westwood, MA 02090
781.329.8008
CHARLESTOWN
One Thompson Square
Charlestown, MA 02129
617.242.4222
SOUTH END RENTALS

597-A Tremont Street
Boston, MA 02118
617.426.6901
gibson sothebys international realty

556 tremont street
boston, massachusetts 02118
www.GibsonSothebysRealty.com
info@gibsonsir.com
844.667.6663

Gibson Sotheby&#39;s International Realty - Market Update 2015

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Gibson Sotheby&#39;s International Realty - Market Update 2015

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BOSTON &

each office is independently owned and operated

all neighborhood information sourced from LINK

he Greater Boston real estate market saw

to those who are flocking to the city including empty

Universities, hospitals and job opportunities in Boston,

Sources: Realtor.com, Boston Globe, Boston.com

CITYWIDE MARKET DATA

Citywide improvements have

AVERAGE SALE PRICE

AVERAGE $PSF - CONDOS

AVERAGE $PSF - SINGLE-FAM

AVERAGE $PSF - MULTI-FAM

Average price per

In 2015 33% of sales

AVERAGE SALE PRICE

130 COMMONWEALTH AVE | SOLD

In 2015 47% of sales

AVERAGE SALE PRICE

T he South End saw a dramatic increase in sales in 2015 reaching a high

24 UNION PARK | SOLD

In 2015 47% of sales

AVERAGE SALE PRICE

8 BYRON STREET | SOLD

Average sale price

AVERAGE SALE PRICE

B uyer demand fueled by lack of inventory continues to put upward pressure on

150 DORCHESTER AVE #602 | SOLD

In 2015 43% of sales

AVERAGE SALE PRICE

T he Seaport, categorized as one of the fastest growing neighborhoods, realized

25 CHANNEL CENTER PH 104 | SOLD

It is also home to the new Intercontinental

AVERAGE SALE PRICE

A lthough sales remained consistent in the Waterfront, the amount of inventory

4 BATTERY WHARF #4505 | SOLD

It is also home to the Old North Church, made

In 2015 38% of sales

AVERAGE SALE PRICE

301 NORTH STREET #1 | SOLD

Average sale price

The area comes alive each weekday around

In 2015 17% of sales

AVERAGE SALE PRICE

2 AVERY STREET U:PH1C/B | SOLD

In 2015 50% of sales

AVERAGE SALE PRICE

120 MOUNTFORT STREET #102 | SOLD

In 2015 47% of sales

AVERAGE SALE PRICE

T he number of sales in Charlestown increased by nearly 20%, while the average

ONE HARVARD PLACE | SOLD

In 2015 33% of sales

AVERAGE SALE PRICE

8 WHITTER PLACE #9E| SOLD

AVERAGE SALE PRICE

AVERAGE $PSF - CONDOS

AVERAGE $PSF - SINGLE-FAM

AVERAGE $PSF -MULTI-FAM

AVERAGE SALE PRICE

AVERAGE $PSF - CONDOS

AVERAGE $PSF - SINGLE-FAM

AVERAGE $PSF -MULTI-FAM

25 CARRUTH STREET | SOLD

Gibson Sotheby's International Realty - Market Update 2015

Gibson Sotheby's International Realty - Market Update 2015