Back Bay Condo Prices Increase

The average sales price of condos in Back Bay continues to rise. This may sound shocking to many readers who constantly see the news about prices falling all over the city, but numbers don’t lie.

Average sales prices in Back Bay per square foot:
1/1/08-6/15/08 $778.00
1/1/09-6/15/09 $779.00

Now this may not seem like much, but let’s compare it to Beacon Hill in the same time frame.

1/1/08-6/15/08 $745.00
1/1/09-6/15/09 $704.00

Now that increase seems much bigger doesn’t it? My take on this, is that as Back Bay continues to increase in popularity among people of all ages, it’s driving prices higher. The number of renovated homes in Back Bay is also higher than in Beacon Hill which helps further inflate prices.