Because you were wondering . . .

Welcome back to our latest piece that hands out tidbits of statistics on the Boston real estate market. We think they are insightful and sincerely hope you find them useful.

With further delay: Got Equity? Everyone discusses how if you bought 10 +/- years ago you probably have a ton of equity and your home might be worth more than you think. Sounds good, right? However, I know some folks view anyone with a real estate license slightly above used car salesmen and so this type of talk might fall on deaf ears – a real “sales” pitch. We get it.


So let’s bring some transparency around the topic.Here is a rundown of the prices of real estate within a few local neighborhoods and municipalities during the lowest point of the great recession compared to year-to-date prices.

Here is a rundown of the prices of real estate within a few local neighborhoods and municipalities during the lowest point of the great recession compared to year-to-date prices. All prices were pulled directly from the average sales price for the time period and location as reported by the Multiple Listing Service.

Within Boston:

  • The average price of a condo in East Boston during 2010 was $220,000
  • The average price of a condo in East Boston year-to-date is $470,000

  • The average price of a condo in the South End during 2006 was $587,000
  • The average price of a condo in the South End year-to-date is $1,106,000

  • The average price of a condo in the Back Bay during 2009 was $978,000
  • The average price of a condo in the Back Bay year-to-date is $1,712,000

  • The average price of a condo in South Boston during 2009 was $356,000
  • The average price of a condo in South Boston year-to-date is $708,000

Outside Of Boston:

  • The average price of a condo in Somerville during 2008 was $368,000
  • The average price of a condo in Somerville year-to-date is $684,000

  • The average price point of a condo in Brookline during 2007 was $503,000
  • The average price point of a condo in Brookline year-to-date is $924,000

  • The average price point of a condo in Everett during 2009 was $146,000
  • The average price point of a condo in Everett year-to-date is $312,000

  • The average price point of a condo in Watertown during 2009 was $331,000
  • The average price point of a condo in Watertown year-to-date is $569,000

The Bottom Line

If you bought around 10 years ago it is nearly impossible to not have some serious equity built up in your property. But does that mean it makes sense for you to sell? Maybe. Maybe not.

Didn’t see your neighborhood or town here? Want to discuss the specific gains you’ve made in your home? Reach out anytime to schedule a consultation.