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Boston Market Trends

Spring 2022

Setting the tone for sophisticated real estate

At Engel & Völkers Boston, we 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 advising you on your next real estate transaction.

Engel & Völkers Americas 2022 Q1 in Review: An impressive start to the year !

2022 Q1 in Review Video

Spring Property Spotlight

Killybracken Estate I Gloucester

9 Drumhack Road I Main House + Pool House + Guest Cottage I 10,400 sq ft

Killybracken, an enchanting estate with expansive lawns and lush, perennial gardens, ensures absolute and self-sufficient privacy while enjoying stunning panoramic ocean views. The compound features an historic main residence, pool house, guest cottage, detached two car garage all built with the finest attention to detail. This estate is rooted in beauty and strength. Behind the high-quality craftsmanship of gorgeous granite, antique woods, and other natural stone finishes. This magnificent manor is secluded on one of the most eastern points of land in the continental United States yet has convenient links to Boston and can be easily reached by land, air and sea.

160 Beacon Street, Unit 1 I Back Bay

Direct Access Parking I 2 Bedrooms I 2 Bathrooms I 1,500 sq ft

Stunning south facing duplex on the River side of Beacon between Berkeley & Clarendon. Grand Beaux Arts building with majestic lobby opens to elegant living and dining spaces offering views of the Back Bay streetscape through oversized windows. Beautiful designer and vintage finishes complement 12’ ceilings with original plaster moldings, ornate fireplace and inspired custom built-ins. Sleek white cabinetry and premium stainless steel define the contemporary chef’s kitchen. Generous bedrooms with excellent storage and marble baths round out the living spaces. Elevator and direct access parking w add’l parking available.

79 Irving Street, Unit 1 I Somerville

Townhouse I 3 Bedrooms I 2.5 Bathrooms I 1,883 sq ft

Gloucester Street • Boston, MA • 02115

Contemporary triplex Townhouse with Smart tech very near Davis Square reimagined by award-winning builder. Beautifully designed open floor plan with stained wide plank flooring, oversized windows and built-in speakers. Gorgeous chef’s kitchen with Quartz countertops and premium professional stainless appliances open to dining with built-in quartz topped sideboard and storage above. Sizeable bedrooms with great closets and luxury baths with Kohler fixtures. Wonderful 3rd floor “loft” bedroom or sitting room/ office with access to quaint rooftop deck. Huge private patio in rear. Smart House tech and high efficiency heat, a/c and on-demand hot water. Ideal location.

Spring Property Spotlight

75 Clarendon Street, Unit 602 I South End

Ideal Location I 2 Bedrooms I 2 Bathrooms I 1,358 sq ft

Ideally located at the intersection of the South End & Back Bay, this 6th floor duplex is in a full service building. 3 sunny exposures offer plenty of space for entertaining This spacious home has been meticulously maintained offering a warm, inviting environment with space for a dining area off of the kitchen, flexible & oversized living area & a private study/office/ nursery. The chef’s kitchen with stainlesssteel appliances, granite counter tops and wine fridge is a joy! Each bedroom is comfortably sized and offers an en-suite bathroom. The 1st floor bedroom includes a balcony & fireplace. Off the upstairs bedroom there is access to the large private rooftop ideal for hosting.

8 Whittier Place, Unit 23A I West End

Whittier Place I Studio I 1 Bathroom I 542 sq ft

Perched high above the city is your oasis in the sky with fabulous views of the Charles River, Zakim Bridge, and inner harbor from the 23rd floor of this one bedroom condo located at 8 Whittier Place. Thoughtfully designed space has a fully enclosed balcony that can double as a guest bedroom when needed. Great light flows through the large windows and this home has lots of closets. Thermostats have been added to both convectors for in-unit control. Brand new high-end designer renovations of interior common areas including marble lobby, hallways & elevators. Prof managed association with onsite management and 24/7 concierge.

45 Longwood Avenue, Unit 502 I Brookline

Assigned Parking I 2 Bedrooms I 2 Bathrooms I 1,134 sq ft

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 16% year-over-year for the first quarter. The average sales price increased by 28%. The real estate market is thriving in our neighborhood. The current average list price for a condo in the Back Bay is $3,268,415 with 96 units on the market.

Data per MLSPIN

Beacon Hill Neighborhood Market Trends

Beacon Hill Neighborhood Statistics

Brick row houses 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 dipped 27% year-over-year for the first quarter. Days on market has dropped pointing to a fast moving market and we predict more inventory to come on the market in the coming weeks. The current average list price for a condo in Beacon Hill is $3,628,468 with 34 units currently on the market.

15 River Street, Unit 603

1 Bedroom I 1 Bathroom I 505 square feet I $729,000

Welcome home! Gorgeous one bedroom in Beacon Hill in The Lincolnshire! Close proximity to all things Beacon Hill. Renovated in 2019, this property has custom cabinets, quartz counters and top of the line stainless steel appliances. Southwest facing with an abundance of light that cascades throughout the unit. Central air, professionally managed building with 24 hour concierge and elevator. To top off this fabulous property, there is a common roof deck over looking the Charles River with breathtaking city views. This is a one bedroom that must be seen!

Brookline Neighborhood Market Trends

Neighborhood Statistics

Brookline offers a charming mix of vibrant urban life and attractive suburban amenities.Brooklineishometoavarietyof shops, restaurants and cultural institutions making it attractive to many home buyers. The number of condos sold dropped 9% year-over-year for the first quarter. The averagesalespriceincreased21%anddays on market dropped showing a fast paced sellersmarket.Thecurrentaveragelistprice for a condo in Brookline is $1,178,314 with 56 active listings. The single family market remains fast moving with low inventory of only 18 homes for sale with an average list price of $4,604,278.

Data per MLSPIN

45 Longwood Avenue, Unit 502

Picture Perfect! Wonderful south facing unit at The Longwood perfectly situated in the heart Coolidge Corner near all the medical facilities. Excellent building amenities with a doorman and fenced pool. Enormous windows bring abundant sunlight into a large living and dining area with warm wood flooring and direct access to the terrace. Lovely chef’s kitchen with wood cabinetry and premium stainless steel appliances. Very large primary bedroom with en-suite bath, great closets and wood flooring. Second bedroom is quite sizeable also with great closet storage and wood floors. The property includes 1 covered parking space, is professionally managed with common laundry on each floor and a maintains a dedicated mail room. Excellent locale with proximity to all the dining, shopping, nightlife Coolidge Corner has to offer. Easy access to parks and greenery, bike paths, public transit and minutes to most major hospital facilities.

Cambridge Neighborhood Market Trends

Cambridge Neighborhood Statistics

Cambridge is located directly across the Charles River from Boston. It is home to famous universities and highly-rated public schools. The number of condos sold decreased 21% year-over-year for the first quarter. The average sales price jumped 25% and days on market decreased36%.OurlistingsinCambridge are not lasting long! With students and professionals alike heading back to the Cambridge market, we are sure to see a strong end to the Spring market in your neighborhood.

Charlestown

Neighborhood Market Trends

Charlestown Neighborhood Statistics

Charlestown is steeped in history with brick townhouses in a waterfront neighborhood that is home to the Bunker Hill Monument. This quarter, the number of condos sold dipped 40%. The average days on market dropped 39%, yet the average sale price increased 18%. Over the past four years the “price per square foot” has remained very steady. We recently listed and sold a fabulous single family in your neighborhood for top price- call for more information!

Charlestown Featured Listing I UAG

4 Hill Street

Where the best of city and suburban life converge. Turn-key, spacious 5 bedroom, 2 1/2 bath home on a quiet dead end street in most desirable neighborhood of Charlestown, complete with sprawling water views. Enter into a fireplaced living room with spectacular built-ins and large windows next to a stunning chef’s kitchen with granite countertops, custom cabinetry and storage galore. Large nook perfect for a sizable dining room table. Elegant staircase to second floor that has three bedrooms, one with water views, and a large full bath. Next floor has a flexible floor plan-- two large sized rooms that could be used as bedrooms or office spaces and a walk in laundry room with endless storage opportunity. Walk out lower level with spa like bathroom, huge open concept living space with a large sliding door out to a spectacular fenced outdoor space. A playground five doors down, moments from renowned restaurants, cafes and boutiques give this home the perfect community feel.

Jamaica Plain Neighborhood Market Trends

JamaicaPlainisatight-knitneighborhood with serene green spaces with trails around the Jamaica Pond and through the vast Arnold Arboretum. The number of condos sold decreased 9% year-overyear for the first quarter. Days on market hasgonedown,asthepaceofthemarket picks up. The average sales price has increased 5% - all signs of a strong end to the spring market ahead!

Jamaica Plain Neighborhood Statistics

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 sold and days on market dropped off in the first quarter. Selling prices are still going for over their list price showing signs of a strong market. Over the past four years the “price per square foot” has remained steady with a slight jump in 2022.

Midtown Neighborhood Market Trends

Midtown Neighborhood Statistics

Boston’s Midtown is centrally located nearBostonCommonandhometomany full-service buildings. The average sales pricejumpedup63%withanaveragelist pricecurrentlyat$3,177,509and42units currently on the market for sale. Number of listings sold increased. The full service market in the Midtown neighborhood is certainly coming back. Keep an eye out for more information on Midtown’s newest development, The Residences at Winthrop Center.

One Winter Place, Penthouse

Midtown

Gorgeous, direct elevator entry Penthouse. Private 1100 sf roof deck in the heart of Midtown. An open floor plan invites living, lounging, dining and working, redesigned with premium finishes and posh designer accents. Both private and common roof deck have direct elevator access, caterer’s kitchen and bath. Expansive, open chef’s kitchen offers warm wood cabinetry, Wolf and Sub-Zero appliances, beverage fridge, center island and bar area. Bedrooms are king sized with spa-inspired en-suite baths and walk-in closets. Office/Study currently used as 3rd bedroom. World class restaurants, shops, & cultural activities are at your feet at the intersection of Beacon Hill, Back Bay, Waterfront, South End, Greenway and Esplanade. Easy commuter access by car, public transport & bike paths. For the discerning urban dweller looking to reside in a quiet European-style building while enjoying all that Boston has to offer. Includes Deeded Garage parking space and the envy of all you friends!

Newton Neighborhood Market Trends

Newton

Neighborhood Statistics

Newton is located just seven miles West of downtown Boston and is home to one of our shops at 77 Union St in Newton Centre-stopbyandvisitusanytime!With astrongpushtomovetothesuburbs,the number of single family homes dipped 32% year-over-year for the first quarter with lack of inventory still being an issue. In addition, the average sales price of a homeincreased15%andareconsistently goingoverthelistprice. Ifyouhaveever consideredsellingyourhomeinNewton, 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 decreased 60% due to lack of inventory. We are excited to announce our fourth Engel & Völkers location at 345 Hanover Streetisofficiallyopen-stopbyanytime! We are sure to have some great coffee and pastries on hand at all times.

Seaport District Neighborhood Market Trends

Seaport District Neighborhood Statistics

The Seaport District is Boston’s newest neighborhood with an influx of vibrant luxury buildings. The number of condos sold remained steady year-over-year in thefourthquarter.Theaveragesaleprice increased by 22%. Many units in these luxury buildings are selling, continuing to drive activity in the neighborhood. Thanks to luxury buildings, the “price per square foot” has remained steady over the past few years. The St Regis, joining the neighborhood Winter 2022, will be a wonderful luxurious addition!

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 decreased 27% year-over-year for the first quarter. Days on market remained the same and the average sale price increased 16%.

Somerville continues to be a highly sought after neighborhood. Over the past four years the “price per square foot” has been steadily increasing.

Somerville Featured Property

79 Irving Street, Unit 1

Contemporary triplex Townhouse with Smart tech very near Davis Square reimagined by award-winning builder. Beautifully designed open floor plan with stained wide plank flooring, oversized windows and built-in speakers. Gorgeous chef’s kitchen with Quartz countertops and premium professional stainless appliances open to dining with built-in quartz topped sideboard and storage above. Sizeable bedrooms with great closets and luxury baths with Kohler fixtures. Wonderful 3rd floor “loft” bedroom or sitting room/office with access to quaint rooftop deck. Huge private patio in rear. Smart House technology and high efficiency heat, a/c and on-demand hot water. Best location with a walk score of 93 is very near the eclectic bustle of Davis Square with renowned access to dining, shops, public transit and Tufts.

46 Gloucester Street • Boston, MA • 02115

South End Neighborhood Market Trends

South End Neighborhood Statistics

The South End is one of the most beloved andpopularneighborhoods.Thenumber of condos sold year over year for the first quarter had a significant increase of 39%. The average sales price increased 20%. The ratio of sale to list price (this is the amount buyers can expect to pay) increased 2%. In the first quarter of 2022 the average price per square foot increased 8%. There are currently 102 condos on the market with an average list price of $1,778,641.

South Boston Neighborhood Market Trends

South Boston Neighborhood Statistics

South Boston is home to many young professionals and families who are drawn to the vibrant community and convenient location. The number of condos sold decreased 38% year over yearforthefirstquarter.Theaveragesale price increased 3%. With the increase of activity in the neighborhood, the days on market has decreased indicating a fast paced market. Come visit us at our South Boston location anytime- 493 East Broadway!

Gloucester Street • Boston, MA • 02115 boston.evrealestate.com

Waterfront Neighborhood Statistics

Boston’sWaterfronthasarichhistoryand is home to many full service buildings, the Harborwalk, and New England Aquarium. The number of condos sold decreased 35% year- over-year for the first quarter. The ratio of sale to list price increased and the average days on marketdecreased32%.Theaveragesales price and price per square foot remained consistent. There are currently 23 units under agreement in the Waterfront and 41 for sale, the market is in full swing.

West End Neighborhood Market Trends

West End Neighborhood Statistics

The West End has many luxury highrises and is conveniently located near Mass General Hospital, TD Garden, Museum of Science and The Charles River. Number of listings sold remained steady. The average sale price increased 16% showing signs of a strong market ahead for the neighborhood. There are currently 16 condos on the market with an average list price of $558,662 and 10 under agreement.

6 Whittier Place, #5G I $395,000 8 Whittier Place, #16A I $505,000

Whittier Place, #23A I $599,000

6 Whittier Place, #16L I $429,000

Whittier Place, #22G

Whittier Place, #7P

Engel & Völkers

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.

Banyan

553 Tremont St, Boston 02116

Banyan Bar & Refuge is an adventurous, PanAsian Gastropub in Boston’s South end with Chinese and Southeast Asian Fusion cuisines & creative cocktails. Banyans elegant interior design adds flair to an already great experience. Delicious food and great decorations, Banyan is a fantastic place to enjoy great food, drinks and music with family and friends. Don’t miss the fabulous music and their beautiful extensive patio.

Tip Tap Room

138 Cambridge St, Boston 02114

Restaurant industry veteran and acclaimed chef Brian Poe opened The Tip Tap Room in June of 2012 offering exciting cuisine in Boston’s Beacon Hill neighborhood. With standards like steak tips and burgers to eclectic dishes featuring wild game and global flavors, there’s a little something for everyone. Plus, 36 beers on tap (and a stash of rare beers in the cellar), creative cocktails, brunch, and full dinner menu available.

Frank Anthony’s Seaport Market

9 Fan Pier Blvd, Boston 02210

Frank Anthony’s Seaport Market is committed to quality and consistency. Our team works diligently each day to curate a variety of the finest provisions, food, grocery, and convenience items from local sources and beyond. Fresh produce is delivered daily to our market. Our vast spirits, wine, and craft beer offerings are unrivaled, and can be conveniently delivered to your home or office. Customer satisfaction is our top priority.

Neatly Nested

373 W Broadway, Boston 02127

We specialize in offering unique and delightful gifts and decor for your home. From letterpress greeting cards to dining sets, our customers come to us to find something unexpected. We have a wide array of pillows, throws and home textiles, furnishings from coastal to farmhouse, and a wide selection of candles that will delight anyone. Our regular customers come in weekly to see whats new and we strive to bring in items that our guests are looking for.

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.

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.

Meridian Realty Group

Full Service Property Management

Selling pretty properties 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.

CRAFTING BESPOKE HOMEBUYING AND SELLING EXPERIENCES

After more than 35 years, more than 980 properties sold, and approximately $1 billion in sales, Robb Cohen has created a reputation as one of Boston’s most distinguished and experienced real estate professionals. Not one to rest on his laurels, Robb continues to dedicate himself to ensuring each client is satisfied throughout the entire selling or buying process. As a specialist in Boston’s iconic Beacon Hill and Back Bay communities, he offers a higher level of service for buyers and sellers in Boston’s luxury markets and throughout the metropolitan area.

The Robb Cohen Team

When a client works with Robb, they gain the advantage of working with the professional advisors who make up The Robb Cohen Team. Here clients have access to Robb’s impressive professional expertise along with the personal attention and international focus his team provides. With services available for speakers of English, Spanish, French, Russian, Cantonese, and Japanese, you’ll always feel right at home working with The Robb Cohen Team.

With services available for speakers of English, Spanish, French, Russian, Cantonese, and Japanese, you’ll always feel right at home working with The Robb Cohen Team WE ARE ENGEL & VÖLKERS.