The South End luxury real estate market once again had a terrific year in 2017. Of our four core markets, it finished with the second highest rate of appreciation at just over 5 percent for the year. Beacon Hill was the top performing downtown market while Back Bay and Downtown Crossing made only very modest gains (1%).
Records were set in the South End in 2017 for both average price per foot ($1,072) and total transactions over $1 million (297). However, one important indicator that points to a market that may be slowing is the average days on market metric. During 2015 and 2016 this statistic had remained static at 39 days. In 2017, we watched it increase to 64 days. This is something we’ll continue to watch as we move through 2018.