Boston Real Estate Market Trends I Fall 2021 I Danny Wang by EV-Boston

Greater Boston Market Trends

Fall 2021

Spencer Ave, #3

Beacon St, #8/9

Setting the tone for sophisticated real estate

At Engel & Völkers Boston, we strive to embrace our city’s simple ethos — we work hard, and we play hard. Our real estate advisors work each deal with the same drive and intensity as if they were purchasing the property for themselves.

Our advisors are not only the most successful in our area, they also share traits which align with Engel & Völkers’ culture, such as teamwork, passion, and competence. With our state-ofthe-art real estate tools and technology, premium brand recognition, and unrivaled market knowledge, we are able to offer our clients first class service during the purchase or sale process.

We look forward to hearing from you soon and advising you on your next real estate deal.

Fall Property Spotlight

66 Revere Street I Beacon Hill

On picturesque Revere St. in the heart of Beacon Hill sits this enchanting brick single family. Greeted by the cherry red front door you immediately know you have arrived home. Sunny and gracious, the view from the foyer is filled with custom millwork, cabinetry in the dining room with original fireplace, and fully appointed gourmet chef’s kitchen with a direct access outdoor private patio. High quality finishes. Innumerable updates. Bright and spacious, the double living room is highlighted with front to back windows, numerous built-ins, fireplace, and private study/den. Glorious outdoor roof deck ideal for entertaining or just relaxing. Ground floor den/bedroom with bath and separate entrance ideal for au pair or guests. All of this perfectly located just steps from the acclaimed shopping and restaurants of Charles Street, the Esplanade, MGH/MEE, public transit and offering easy access to highway. Parking nearby.

On quiet Corridor Park bordering the best of the South End, this single family home with exposures on three sides is the perfect home for a growing family or someone looking for the always elusive space in downtown. This triplex home boasts a separate, private entrance garden level studio for your au pair, extra income, or expansion of the main house. Greenery abounds from the front entry level accessed through a lovely garden which faces the Corridor Park with its bike paths, gardens, and walks. Upon entering you are presented with space for a home office, a full bath, and a separate bedroom. The 2nd level, which is currently configured as the main level, is an open plan concept that includes kitchen, dining, and living areas. Features on this level include a living room, built in bookcases, and a large deck off the kitchen. The top floor owner’s suite featuring a sun drenched bathroom and a separate bedroom/nursery. With three off street parking spaces, 3 Claremont is your quiet garden oasis in town.

Fall Property Spotlight

129 Pinckney Street I Beacon Hill

Single Family I 5 Bedrooms I 3.5 Bathrooms I 4,188 sq ft

A gracious example of fine period architecture in the most desirable neighborhood. This handsome brick & granite five-story, 4,188sqft singlefamily townhouse is located in the most desirable Beacon Hill area, Boston’s most prized residential neighborhood. Within easy walking distance of Back Bay and downtown attractions, it is just around the corner from Charles St, the Charles River and The Esplanade, in a quiet, sun-filled location on the “Flat Of The Hill”. Built in 1878 and beautifully maintained, it shows off the fine materials and craftsmanship of that time. 12-foot ceilings crown spacious rooms, 8 fireplaces of which many have their original white marble mantles. Configured for four bedrooms, it can easily become a five or six-bedroom home. There is a vast amount of storage & original built-ins. Updated systems include air conditioning on the upper floors. The property includes one of Beacon Hill’s legendary hidden gardens and lower level living space w its own

42 Rutland Square, Unit 3 I South End

Stunning two bedroom penthouse duplex in South End’s historic district. This sunny home features a warm open living/dining area with cozy gas fire place. Also, a charming half bath located off of this wonderful entertainment area. The kitchen is a chef’s delight: featuring; fully applianced and contemporary kitchen space with gorgeous granite counter tops and lovely cabinetry. Deck rights included off kitchen to be included in condominium documents prior to closing. Bedrooms are oversized and have beautiful tile baths off of each sunny bedroom. Ample closet/ storage space, A/C, laundry in the unit and hardwood floors throughout. Last but not least, the roof deck is oversized with stunning city views. Lots of peaceful moments will be spent here. This home is near every convenience; Restaurants, shopping, transportation, universities, hospitals, museums, bike/jog trails and tranquil parks. This lovely townhouse sits on a quiet residential tree lined street. Off street parking avail.

Meridian Realty Group

Full Service Property Management

Selling pretty condos isn’t our only goal. Keeping them pretty is part of our service.

24/7 Full Service Property Management Division

As part of Engel & Völkers service to our clients, we are able to provide 24/7 full service property management through our sister company, Meridian Realty Group (MRG). Meridian Realty Group offers a wide range of resources to provide hands-on management for owners, investors, residents and their properties. We specialize in associations from three to 100+ units. State-of-theart management and property accounting systems are in place to electronically pay condo fees, submit work orders, track rental activity for multifamily owners, and provide online access to building documents and monthly financials. We work closely with associations, condominium boards, and single and multifamily owners to establish and implement policies that will enhance the quality and value of your property or complex.

Meridian Realty Group utilizes a unique team approach in offering comprehensive residential and multifamily property management services. Our senior principals have over 100 years of combined experience in property management; creating programs and services tailored for each individual client.

Email us today for a free on-site consultation at info@mrgproperty.com

Condo Maintenance Guide

Preventive maintenance is the regular inspection and repair of equipment and facilities to prevent extensive, costly damage from occurring over time. Preventive maintenance can go a long way toward reducing the overall cost of your condominiums, as large expenditures for repairs and replacements can often be avoided by a careful attention to detail. Following a thorough condominium preventive maintenance checklist can help you to increase the attractiveness of your property.

Landscaping

Landscaping not only adds value, but can increase the enjoyment of your home. Whether it be in the common or private areas of your association, picking the right plantings and materials is important to maximize enjoyment for all.

Building Overview

Now is a great time to make your front entrance welcoming. Whether it is a fresh coat of paint or a new set of planters, it’s the small inexpensive things that can make a world of difference. Don’t forget to review your vendors from last year. Were you happy with the snow removal, leak repairs, heating, management company responsiveness, etc.? If not, make a couple of calls to see who else might better fit your needs.

Inspections

Perform regular inspections on all equipment and facilities that are subject to damage or normal wear and tear. Inspect such things as roofs, insulation, ventilation systems and appliances to ensure that they are operating safely and efficiently.

Cleaning

Stick to a regular cleaning schedule for fixtures such as air ducts and exterior siding to ensure that dirt, mildew and other buildup does not cause any damage. Clean and replace filters in heating and air conditioning units, as well as appliances such as washing machines and dryers, to prevent fire damage. New or cleaned filters also help to keep electricity costs down, as the appliances can operate more efficiently with an unrestricted flow of air.

Pest Control

Bring pest control specialists into your condominiums at least once per year. Common pests can increase their populations rapidly and can quickly infest an entire property, causing extensive damage to interiors and electrical infrastructure. Act proactively to ensure that pests do not gain a foothold in your properties, and respond quickly to any pest complaints.

Testing

Test emergency equipment such as sprinkler systems, smoke alarms and fire extinguishers to ensure that they remain in working order. Properly maintained safety equipment can prevent a small mishap from becoming a major disaster. Fire escapes need to be certified every 5 years per the Commonwealth of Massachusetts. Elevators need state inspections on a scheduled basis.

Sealants

Reapply all sealants before a problem occurs. Sealants on steps, decks, bricks, exterior paint and window caulking can corrode over time, exposing your property to the risk of internal damage. Keeping on top of these items not only helps to keep your structure strong, it can also cut down on energy, assessments, and repair bills in the future.

Back Bay Neighborhood Market Trends

Back Bay Neighborhood Statistics

From the rich history of the homes and buildings to the trendy vibe of the shops andrestaurants,BackBayisaplacemany people wish to call their home. Our own office is located in the heart of Back Bay, andwearecertainlyhappytocallithome!

The number of condos sold increased 64% year-over-year for the third quarter. The average sales price drastically increased by 81%. The real estate market is thriving in our neighborhood. The current average list price for a condo in Back Bay is $2,749,498 with 125 units on the market.

Data per MLSPIN

Beacon Hill Neighborhood Market Trends

Beacon Hill Neighborhood Statistics

Brick rowhouses and sidewalks, beautiful doors and window boxes all add to the charm that can only be found in Beacon Hill. The number of condos sold increased 44% year-over-year for the third quarter. The average sale price has increased 20%. Days on market has gone up due to an increase in inventory and overall market activity.Thecurrentaveragelistpricefora condoinBeaconHillis$2,429,324with51 units on the market

Brookline Neighborhood Market Trends

Brookline Neighborhood Statistics

Brookline offers a charming mix of vibrant urban life and attractive suburban amenities. Brookline is home to a variety of shops, restaurants and cultural institutions making it attractive to many home buyers. The number of condos sold increased 24% year-over-year for the third quarter. The average sales price and days on market remained steady. The current average list price for a condo in Brookline is $1,125,681 with 104 active listings. The single family market remains fast moving with only 26 homes for sale with an average list price of $3,110,577.

Data per MLSPIN

Brookline Featured Listing

366 Kent Street

Set in the esteemed Longwood neighborhood of Boston’s finest suburb, this architectural treasure is a true urban oasis! The spacious foyer welcomes you to this home that is perfect for gracious entertaining or for casual family living. There is a large formal living room with a fireplace that opens onto a wonderful den overlooking an architecturally designed deck and pergola and carefully planned perennial garden. The eat-in-kitchen, from which you can walk out to the patio and garden is ideal for the at home chef and opens to a formal dining room for gatherings of family and friends. Up the elegant staircase is a grand sized bedroom with two walk-in closets and en-suite bath. An additional 3 other bedrooms, storage galore and one full bath complete this level. Highly soughtafter potential to build a third level. The lower-level features a separate entrance leading to a sitting area, au-pair/bedroom/office area, and a full bath all in the exclusive Lawrence School district.

Cambridge Neighborhood Market Trends

Cambridge Neighborhood Statistics

Cambridge is located directly across the Charles River from Boston. It is home to famous univeristies and highly-rated public schools. The number of condos sold increased just 7% year-over-year for the third quarter. The average sales price remained steady and the days on market increased 48% giving buyers a little “break”. With students and professionals alike heading back to the Cambridge market, we are sure to see a strong Fall/ Winter market in your neighborhood.

Charlestown Neighborhood Statistics

Charlestown is steeped in history with brick townhouses in a waterfront neighborhoodthatishometotheBunker Hill Monument. This quarter, the number of condos dipped sold dipped 27%. The average days on market increased 79% and the average sale price remained steady.Overthepastfouryearsthe “price per square foot” has remained steady.

Jamaica Plain Neighborhood Market Trends

Jamaica Plain Neighborhood Statistics

JamaicaPlainisatight-knitneighborhood with serene green spaces with trails around the Jamaica Pond and through the vast Arnold Arboretum. The number of condos sold increased 15% yearover-year for the third quarter. Days on market has gone down, as the pace of the market picks up. The average sales price has increased 5% - all signs of a strong market ahead!

Medford Neighborhood Statistics

Medford is one of Boston’s best kept secrets. Minutes from downtown Boston plus easy access to public transportation and filled with fabulous restaurants, shops and bars. The number of condos soldremainedsteadyinthethirdquarter. Days on market increased 68%, however selling prices are still going for over their list price showing signs of strong market. Over the past four years the “price per square foot” has remained steady.

Middleton Neighborhood Market Trends

Middleton Neighborhood Statistics

Middleton is a highly sought after suburb, just North of Boston. Days on market has gone down significantly by 75% as it is a very strong seller’s marketandinventoryissellingswiftly. The average sales price has increased 58% year-over-year, again another significant change. Properties are sellingforovertheirlistprice.Allsigns are showing a competitive market in Middleton and if you have ever considered selling, now is the time!

Midtown Neighborhood Statistics

Boston’s Midtown is centrally located and home to many full-service buildings near the Boston Common. The average sales price dropped due to the pandemic but is inching its way back up with an average list price currently at $3,245,391.Numberoflistingsincreased. The full service market in the Midtown neighborhood is certainly coming back.

Newton Neighborhood Statistics

Newton is located just seven miles West of downtown Boston and houses one of our shop locations at 77 Union St in Newton Centre- stop by and visit us anytime! With a strong push to move to the suburbs, the number of single family homes sold stayed consistent year-overyear for the third quarter. In addition, the average sales price of a home increased 17%. If you have ever considered selling your home in Newton, now is the time!

North End Neighborhood Market Trends

North End Neighborhood Statistics

The North End is one of Boston’s most historic neighborhoods, famous for its iconic streets, architecture and amazing restaurants. The number of listings sold and average sale price both increased slightly. The average days on market increased 73%. All good signs of a solid market. We are excited to be opening our 5th location in your neighborhood on Hanover St- keep your eyes out for our grand opening.

Seaport District Neighborhood Statistics

The Seaport District is Boston’s newest neighborhood with an influx of vibrant luxury buildings. The number of condos sold increased by 39%, showing steady growth year-over-year in the third quarter. The average sale price also increased by 19%. Many units in these luxury buildings are selling, continuing todrivetheaveragesalepriceup.Thanks toluxurybuildings,the“pricepersquare foot” has gone up quite drastically over the past few years.

Somerville Neighborhood Market Trends

Somerville Neighborhood Statistics

Somerville offers residents an urbansuburban feel with its close proximity to downtown Boston and many bars, restaurants, coffee shops and parks. The number of condos sold increased 40% year-over-year for the third quarter. Days onmarketdropped22%andtheaverage sale price increased 9%. Somerville continues to be a highly sought after neighborhood. Over the past four years the “pricepersquarefoot”hasremained steady.

Somerville condos

Somerville Featured Listing 12 Dimick Street, Unit 3

Top floor! Nestled on a coveted side street near Inman Square, functionality and warmth define this 3+ bedroom, 2 bathroom penthouse condominium. Natural light pours through the bay windows of the open living/dining/kitchen floor plan. Chef’s kitchen comes equipped with stainless steel appliances, granite countertop, and cherry cabinets. Sizeable living/ dining room perfect for entertaining that leads to a large, sun drenched back porch with sweeping views. Three spacious light-filled bedrooms plus an office, two pristine bathrooms, hardwood floors throughout, central AC and 2 tandem parking spaces complete this unit-- making for a perfect home or rental investment property. Large storage area in basement. Whole Foods is around the corner, and Inman Square and Kirkland Village a minutes away. Harvard Sq, Central Sq, Porter Sq, the Red Line, fabulous local shops and restaurants are all nearby. Don’t miss out on this fabulous property!

South End Neighborhood Market Trends

South End Neighborhood Statistics

The South End is one of the most beloved andpopularneighborhoods.Thenumber of condos sold increased 4% year over year for the third quarter. The average sales price has dipped a bit. The ratio of saletolistprice,thisistheamountbuyers canexpecttopay,increased1%.Overthe past four years the sale price per square foot has remained steady. There are currently 150 condos on the market with an average list price of $1,547,006.

South End Featured Listing

8 Rutland Square, Unit 2

Show stopping upper triplex set on iconic Rutland Square in the heart of the South End. Extensively upgraded & better than new, this gut renovated home introduces European modernism to classic Boston design. Sun-filled & spacious penthouse boasts 3+ bedrooms, 3 ½ baths, 2 living spaces, outdoor terrace, a rooftop oasis, & heated parking space. Expansive open living area level is a showcase. Oversized Wolf/Sub Zero chef’s kitchen w/walkout terrace features floor to ceiling custom cabinetry, entertainment designed center island, & storage galore. Artistic dining area and bow-fronted living room adorned with stylized built ins and timeless marble gas fireplace. Grand master suite w/ walk-in closet and en-suite spa-like bathroom. Top floor, thoughtfully designed family room sanctuary highlighted by millwork, wet bar, and king-sized bedroom. High ceilings, oversized windows, hardwood floors, impeccable mill work, “Smart Home Technology”, electric blinds and built-out closets throughout.

South Boston Neighborhood Market Trends

South Boston Neighborhood Statistics

South Boston is home to many young professionalsandfamilieswhoaredrawn tothevibrantcommunityandconvenient location. The number of condos sold increased25%yearoveryearforthethird quarter. The average sale price increased 10%. With the increase of inventory, the days on market has remained steady pointing to a fluid, fast paced market. Come visit us at our South Boston location anytime- 493 E Broadway!

Gloucester Street • Boston, MA • 02115

Waterfront Neighborhood Statistics

Boston’sWaterfronthasarichhistoryand is home to many full service buildings, the Harborwalk, and New England Aquarium. The number of condos sold increased 35% year- over-year for the third quarter. The ratio of sale to list price anddaysonmarketremainedsteady.The average sales price jumped 26%. There arecurrently12unitsunderagreementin theWaterfront,themarketisinfullswing here and prices are going up.

Neighborhood Market Trends

Watertown Neighborhood Statistics

Comevisitournewestshoplocatedinthe

heart of Watertown, 63 Mount Auburn Street. Days on market and average sale price both increased. Number of listings sold decreased, while sale to list price ratio remaining the same. There are currently 35 condos under agreement with an average list price of $ 657,054. Over the past four years the “price per square foot” has remained steady.

West End Neighborhood Market Trends

West End Neighborhood Statistics

The West End has many luxury highhigh rises and is conveniently located near Mass General Hospital, TD Garden, MuseumofScienceandTheCharlesRiver. Number of listings sold and average sale price both increased. There are currently 3 condos under agreement with an average list price of $502,333. Over the past four years the “price per square foot” has remained steady.

Engel & Völkers 955 offices in 33 countries

marketing support

Fully dedicated team of experts Global

Engel & Völkers manages a global marketing infrastructure out of our corporate headquarters in Hamburg, Germany that supports our shops and advisors worldwide. This support adds to the targeted marketing strategies delivered by our Americas headquarters in Manhattan to support the local markets served by our Engel & Völkers advisors. Each local shop then leverages the brands national and international resources and reach through its dedicated marketing specialist who works with each advisor to create customized, multi- channel campaigns for each property we market.

Engel & Völkers marketing strategies and offerings are rooted in data and research for optimal results --- at every level. By identifying the unique qualities of a property and placing it in the context of current and trending market conditions, we then identify target market groups and create campaigns to provide maximum exposure of the property alongside messaging and branding to attract the most qualified buyers. Our creative approach is also backed by consumer data and testing to ensure we highlight your property in the best light.

The world deserves to see it. You deserve to sell it.

Giving you the EDGE. Smart marketing. Extensive exposure.

Global reach with boutique style is what you can expect when working with an Engel & Völkers advisor here and around the world. Providing unprecedented reach of your property, Engel & Völkers offers the exclusive EDGE (Extensive Domestic & Global Exposure) platform designed to maximize online exposure of your listing to qualified buyers worldwide via a suite of highly trusted and strategic online and mobile marketing partners. But we don’t stop there. With a global network of more than 11,000 real estate professionals in more than 30 countries, we not only reach millions of consumers, but are able to collaborate with our fellow Engel & Völkers advisors to strategically handpick and refer buyers for the specific properties they seek … like yours.

Let us provide the EDGE you need to sell your home and begin your next adventure.

Support our Local Restaurants and Businesses

Greystone

123 Appleton St, Boston 02116

Greystone has been a very personal project from day one. They are a mother/daughter duo, and the South End is their home. Greystone is a direct reflection of the two and emphasizes the things they value most: fresh, from-scratch food, exceptional coffee, welcoming atmosphere, and personal service. “We wanted to create the place that we ourselves would seek out in the neighborhood. A place that could be our daily stop.”

Mighty Squirrel

411 Waverley Oaks Rd, Waltham 02452

Locally owned, Mighty Squirrel brewery is known for their awesome taproom, outdoor Biergarten, curbside pick up, Cloud Candy IPA, and food trucks! From the owners, Henry and Naveen, good friends of ours here at E&V: Bundled in each can are a few of our favorite things: friendship, sports, entrepreneurship, innovation, and fun. We hope you enjoy Mighty Squirrel and have many mighty moments to celebrate!

Oleana

134 Hampshire St, Cambridge 02139

Oleana is a neighborhood restaurant with a strong focus on flavors and comfort. Inventive Eastern Mediterranean dishes in a warm, welcoming interior or a peaceful garden patio. Small plates with big flavor, locally sourced meats and fish, artisanal wines, produce from our own farm and desserts that honor but upend tradition have garnered national attention and awards.

Arden Gallery Ltd.

129 Newbury Street, Boston 02116

Established 35 years ago, the gallery exhibits contemporary works by mid-career, investment-quality artists who show internationally. Arden proudly represents an eclectic mix of styles, media, and subject matter. Their monthly exhibitions display a wide range of techniques and genres: abstract, still life, figurative, landscape, surrealism. They strive to present high quality works that captivate viewers, inspiring them to build collections that are distinctly their own.

Engel & Völkers Cares

Special Olympics

Engel & Völkers is a proud champion of Special Olympics, specifically focused on creating more inclusive communities through its Athlete Leadership and Play Unified programs. We are committed to giving back to and investing in the neighborhoods our clients desire because these too are the places in which we live, we play and we raise our families.

Engel & Völkers Cares

brokerages and together across time zones and borders—it’s a common good that unites us. Every hour given, every dollar donated, every kind word spoken and every door opened creates opportunities for those who need it most. We believe that in order to lead, we must empower others to do the same.

Special Olympics athletes contribute to our story.

From them we learn, we think differently and realize what we can accomplish as individuals, as local

Special Olympics athletes contribute to our story. From them we learn, we think differently and realize what we can accomplish as individuals, as local

Ask how our shop specifically contributes to this amazing cause.

Danny was inspired early on to pursue a career in real estate. Growing up in a family of entrepreneurs, he understood the entrepreneurial opportunities available while studying at college. Motivated to turn those opportunities into success he got his license after he graduated and began working as an agent within the highly competitive Boston market. Originally from Los Angeles and of Taiwanese descent, Danny has access to a vast network of elite clientele. His ability to speak Chinese and English fluently connects him with high profile clients from all over the world and has allowed him to broker multi-million dollar transactions with clients from Boston, Miami, New York, Taipei, Shanghai, Hong Kong, and London, amongst other cities. Respectful to his client’s time, Danny is known to sell his listings quickly providing his clients with an efficient and seamless transaction process. His tenacious drive, unwavering track record, and impeccable understanding of the real estate market allows him to help his clients find their perfect home. Danny is an avid traveler and a car enthusiast. When he’s not closing a deal, you can find him keeping up with the evolving restaurant scene or spending quality time with family and friends.