This morning I did some research on the South Boston real estate market and it's performance thus far in 2011. The data below compares condo sales from January 1st to May 1st in 2011 to the same time frame in 2010. What I found interesting was that South Boston condo sales volume was down 14% during that time frame, yet the average price was up a staggering 33%! In addition, the average days a property was on the market before it sold was up 25%.

In summary, I think the local real estate market is healthy right now. The drop in volume in comparison to 2010 is to be expected as the 1st time home buyer credit was still in effect at this time last year. I don't know how to explain the sharp rise in the average sale price, but I'm sure sellers are happy!

January 1st - May 1st 2011

Condos Sold - 105

Average Price - $393,834

Avg. Days on Market - 145

January 1st - May 1st 2010

Condos Sold - 158

Average Price - $344,201

Avg. Days on Market - 116