Blog :: 01-2018

Another Record Year for Campion and Company

We are pleased to report another banner year, having closed over $460,000,000 in residential real estate in Boston and the surrounding towns. Last year, we had the top market share in the city for condominiums and single-family homes priced above $1,000,000, as well as for all properties priced above $1,000 per square foot. We look forward to many more successful collaborations with buyers, sellers and developers in 2018.

What will be the tallest buildings on Boston's skyline by 2020?

Four of the top five are currently existing. 

  1. 790'     200 Clarendon Street, (1976, Back Bay)
  2. 749'     Prudential Tower (1964, Back Bay)
  3. 742'     Four Season Private Residences One Dalton Street, Boston (Under Construction, Back Bay)
  4. 685'     Millennium Tower (2016, Midtown)
  5. 614'     Federal Reserve Bank Building (1977, Downtown/Waterfront)

At 790 feet, 200 Clarendon Street (formerly known as the John Hancock) has been Boston's tallest building since its completion in 1976. The Henry-Cobb designed office tower will soon be joined in the top three by another work by the architect in collaboration with Cambridge Seven Associates: Four Seasons Private Residences One Dalton Street, Boston.* One Dalton will rise 742 feet at its highest point, becoming the tallest residential building not just in Boston, but in all of New England. Currently under construction, One Dalton has already become visible on the Boston skyline. 

 

Curbed reports more on Boston's existing tallest buildings and the city's developing skyline here.

*Campion and Company is exclusively representing the sales of the white-glove residences at One Dalton.

 

Back Bay's New Skyline with One Dalton

Rendered above: Back Bay Skyline once One Dalton is complete

Over-Ask in 2017: Back Bay

Back Bay remains one of Boston's most desirable residential neighborhoods, as evidenced by the number of transactions that take place at or above a property's asking price.

On average in Back Bay during 2017....

  • All studios traded 2.3% above asking price
  • All 1-bed condos traded 0.5% above asking price
  • All 2-bed condos traded 0.5% below asking price
  • All 3-bed condos traded 2.5% below asking price
  • All 4-plus-bed condos traded 6.1% below asking price

   By price point...

  • Condos that closed between $500,000 and $1,000,000 traded 0.9% above asking price
  • Condos that closed between $1,000,000 and $2,000,000 traded 1% below asking price
  • Condos that closed between $2,000,000 and $3,000,000 traded 2.6% below asking price
  • Condos that closed between $3,000,000 and $4,000,000 traded 2.6% below asking price
  • Condos that closed between $4,000,000 and $5,000,000 traded 4.8% below asking price
  • Condos that closed above $5,000,000 traded 5.6% below asking price

All condo types in Back Bay sold for 99.5% of asking price in an average of 48 days. In 2016, for comparison, condos sold for 98.5% of asking price in an average of 59 days.

Multiple offer scenarios and bidding wars are likely to remain a common occurrence for those looking to purchase in Back Bay, particularly for properties in or below the $1M - $2M range. 

Source: MLS

 

416 Marlborough Street, Unit 3. Sold over asking price by Campion and Company.

416 Marlborough Street, Unit 3. Sold over asking price by Campion and Company.

Top Townhouse and Single-Family Sales of 2017

Boston’s 10 most expensive townhouse and single-family sales of 2017

Back Bay, Beacon Hill and South End contain the city's top townhouse and single-family sales. Properties marked with an asterisk (*) represent sales for which Campion and Company represented the Seller and/or Buyer. 

Selling Price       

Address                            

Area                   

Beds     

Baths     

SF           

Closed               

$13,000,000

197 Marlborough St

Back Bay

5

5+

7,575

11/30/2017

$8,000,000

6 Mt Vernon Pl

Beacon Hill

6+

6+

7,500

09/26/2017

$7,025,000

22 W Cedar St 

Beacon Hill

5+

4.5

5,365

06/20/2017

$6,850,000

9 Walnut St 

Beacon Hill

5+

4+

6,032

07/31/2017

$6,600,000

225 Beacon St*

Back Bay

5+

5+

6,383

03/21/2017

$6,000,000

144 W Canton St

South End

3

2.5

3,078

10/16/2017

$5,890,000

43 Chestnut St*

Beacon Hill

4

4

4,290

04/28/2017

$5,750,000

78 Mt Vernon St 

Beacon Hill

4+

3.5

3,750

07/24/2017

$5,325,000

29 Hereford St*

Back Bay

4

4.5

3,737

07/17/2017

$5,200,000

321 Beacon St

Back Bay

4

3.5

4,439

02/10/2017

Source: LINK

Top Condominium Sales of 2017

Boston’s 10 most expensive condominium sales of 2017

The city's top condominium sales are concentrated within Back Bay, Beacon Hill and Midtown and represent a mix of boutique and full-service homes. All properties except the sale at 25-27 Commonwealth Avenue are either brand new construction, or were recently built within the last few years.  

Selling Price       

Address                                                

Area              

Beds     

Baths    

SF           

Closed          

$17,200,000

25-27 Commonwealth Ave # 25

Back Bay

5

4+

7,554

6/22/17

$13,540,000

6 Newbury St # 301

Back Bay

4

6

6,095

11/15/17

$11,833,303

25 Beacon # B/PH*

Beacon Hill

3

3.5

4,044

9/27/17

$10,650,000

Millennium Tower # PH3B 

Midtown

3

4.5

4,110

11/30/17

$9,250,000

Millennium Tower # PH4E 

Midtown

3

4.5

3,435

6/22/17

$9,035,000

Whitwell, The # 5A 

Beacon Hill

3

3.5

6,129

2/24/17

$9,000,000

Millennium Tower # PH3E 

Midtown

3

4.5

3,435

9/15/17

$9,000,000

448 Beacon St # 8 

Back Bay

4

5

4,069

4/25/17

$8,950,000

Millennium Tower # PH3A

Midtown

 

 

4,172

1/12/17

$8,850,000

25 Beacon # 3*

Beacon Hill

3

3.5

3,583

9/26/17

*Indicates sales for which Campion and Company represented the Seller and/or Buyer. 

Source: LINK