Seaport District home prices inch downward in October, but don’t get too excited
Average asking stands at $1,900-plus a square foot at the start of October
The average asking price for a Seaport District home as of October 1 was $1,902 a square foot, noticeably less than the $2,160 per-foot average at the start of September, according to real estate research site NeighborhoodX.
But don’t get too excited. Per NeighborhoodX research director Constantine Valhouli via email:
Given the limited number of properties for sale within the neighborhood, a small shift in product mix can result in what looks like an 11.9 percent drop in asking price, month over month—but it is critical to remember that this is not a market like the stock market, where stocks represent identical units of a company. The real estate being sold in the same neighborhood can vary from one month to another, and this can result in what looks like sharp swings in price.
The range that produced the October average for the Seaport ran from $1,255 a square foot for a 1,035-square-foot one-bedroom at Twenty Two Liberty to $3,350 a foot for a 1,952-square-foot two-bedroom at 300 Pier 4. See below for a deeper breakdown.