When most people think Beacon Hill, they think quaint and narrow cobblestone streets, historic homes, and Louisburg Square. Named for the 1745 Battle of Louisburg, in which Massachusetts Militiamen defeated the French, Louisburg Square is perhaps the most prestigious place to call home on Beacon Hill.
The Beacon Hill neighborhood as a housing market has stayed relatively resilient over the past year, however, we are seen slowdowns in market velocity and a decrease in average price per square foot. Nonetheless, Beacon Hill condos are selling, on average, faster now than they did one year ago. Some year-on-year comparisons for the first quarter of the year are located below.
January 1, 2008 – March 27, 2008
Beacon Hill Condos Sold: 36
Beacon Hill Average Sales Price: $676,476
Beacon Hill Median Sales Price: $377,500
Beacon Hill Average Price per Square Foot: $722
Beacon Hill Average Days on Market: 113
January 1, 2009 – March 27, 2009
Beacon Hill Condos Sold: 21
Beacon Hill Average Sales Price: $622,110
Beacon Hill Median Sales Price: $495,000
Beacon Hill Average Price per Square Foot: $681
Beacon Hill Average Days on Market: 125
The last condo sale that took place at Louisburg Square was at 1 Louisburg Square unit 5, a 683 square foot 1 bedroom 1. bathroom penthouse condo with an assigned parking space that went under agreement in 3 days at full asking price of $899,000 and sold December 22, 2008. This represented a price per square foot of approximately $1,316, which rivals ultra luxury condo developments across various neighborhoods in Boston.
