Bryant Auction Reboot

The Bryant is going back to auction and great deals are still available. As readers of this blog may remember this building auctioned off units not too long ago. After a successful first auction and a quick spurring of sales, the owners decided it was time to do it again. The Bryant Auction Reboot is the final sell out of the Bryant Back Bay. The auction will take place on November 7th and will mean the end of first time sales at the Bryant Bay with the remaining 11 units hitting the auction block. Prices start $1,075,000 and discounts of up to 41% off this is one auction you can’t afford to miss!

As we mentioned last time, these units are unique in that they offer a large square footage near all the best Back Bay has to offer. Located right on the Back Bay/South End line some of Boston’s best restaurants are just outside the front door it’s close proximity to public transportation means even if you have to travel you never have to go very far. Each unit comes with garage parking and a few even come with great outdoor space. For more information on this auction and our Cash Back Special please contact us today at 617-449-3642.

What’s happening in Back Bay Sales

Two weeks ago I told everyone the  fall buying season had begun, and now it’s time to see how we’re  doing. In the past two weeks 10 condos sold and 17 were put under agreement in Back Bay. How does this compare to last year? Let’s take a look at the numbers!

September 13-27th 2009
Total Units Sold/under agreement: 27
Average List Price: $927,352
Average Price per sq. ft.: $866
Average Days on Market: 114

September 13-27 2008
Total Units Sold/under agreement: 19
Average List Price: $1,264,200
Average Price per sq. ft.: $1,052
Average Days on Market: 86

Now on the surface you might say prices are down and headed in the wrong direction, but the devil is in the details. If you remove the 1 penthouse sale at Zero Marlborough ($8.5 million) from the data in 2008, you find the average list price is really $840,000. This changes the picture a fair amount. Yes, it maybe taking longer to sell homes now but the truth of the matter is that the average place in Back Bay is currently selling for more than it would have last year. We’ll have to wait a few more days to get the full picture of September.

Fall Sales are Here!

The fall has traditionally been a good time for buyers to go out looking because of the influx of properties that come on the market. This year is no different, with over 100 new condos coming onto the market in Boston since September 3rd. The low mortgage rates of last week means that hopefully some savvy buyers out there locked when the rates dipped to 5% or lower in some cases. The downtown however, isn’t the only area that’s trying take advantage of low mortgage rates and patient but hungry buyers.

The Nouvelle at the Natick Collection is also trying to hop on the bandwagon with their auction on October 4th. The plan to auction off 42 units has drawn lots of attention from people in Boston, and with homes starting at $160,000 they are incredibly affordable. The Nouvelle isn’t alone either, Milton Village in Milton just dropped their prices as well. In effort to get buyers before the First Time Home Buyer Tax Credit closes prices have been dropped 10% in the past week. For more information on either of these properties or a free market report send us an email at contact@backbayrealtygroup.com or call 617-449-3642.