Million dollar bedrooms

Million Dollar Bedrooms

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Million Dollar BedroomsBoston has seen rising home prices for a number of years now and in 2014 we saw a major increase in the number of condos priced at $1 million/per bedroom. In 2015 we’ve seen this number explode. In the Back Bay market, as of February 2015 50% of the 2 bedroom condos on the market were priced this way. During this same period over 85% of the 3 bedroom condos on the market had the same pricing. Back isn’t alone in this pricing either.

Luxury BuildingsLuxury full service condo buildings are largely the ones responsible for the pricing. As developers have been working at a frenzied pace in the past few years to build taller and more luxurious buildings we continue to see higher and higher prices. Even in a one bedroom layout we are now seeing properties sell for $1.2 million or more.

Millennium Tower

• 3 Bedrooms start at $3 Million

• 2 Bedrooms are selling for $2.45 Million or more

• 1 Bedroom units are selling for $1.15 Million and higher.

Mandarin Oriental

• 2 Bedrooms are selling for $2.8 Million or more

• 1 Bedroom units are selling for $1.2 Million and higher.

Harvard Club Residences

• 3 Bedrooms currently start at $4.7 Million.

Hooper Mansion Residences

• 4 Bedrooms currently start at $8.5 Million.

• 2 Bedrooms currently start at $3 Million.

• 1 Bedrooms currently start at $1.2 Million.

W Boston Residences

• 2 Bedrooms currently start at $2 Million.

• 1 Bedrooms currently start at $1.14 Million

Boston MarketFor more information on what’s going on in the Boston Real Estate Market check out our Blog:

www.backbayrealtygroup.com/blog

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