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140 Newbury Street Boston, MA 02116 617-267-5465 Fourth Quarter Sales Summary 2008
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Page 1: 2008 Fourth Quarter Sales Summaryc3155192.r92.cf0.rackcdn.com/ckeditor_assets/...Constellation Wharf Ninth St Charlestown Carillon, The 183-185 Massachusetts Ave Back Bay Carlton House,

140 Newbury Street

Boston, MA 02116

617-267-5465

Fourth Quarter

Sales Summary

2008

Page 2: 2008 Fourth Quarter Sales Summaryc3155192.r92.cf0.rackcdn.com/ckeditor_assets/...Constellation Wharf Ninth St Charlestown Carillon, The 183-185 Massachusetts Ave Back Bay Carlton House,

140 Newbury Street

Boston, MA 02116

617-267-5465

Citywide2008 Fourth Quarter

Sales Summary

Page 3: 2008 Fourth Quarter Sales Summaryc3155192.r92.cf0.rackcdn.com/ckeditor_assets/...Constellation Wharf Ninth St Charlestown Carillon, The 183-185 Massachusetts Ave Back Bay Carlton House,

Citywide

Five Year Price Index

(Appreciation Rate)

L I N K

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Citywide

Quarterly Sales Summary

Fourth Quarter 2008

2005 732 -25.53 % $634,689 12.10 % $473,750 8.41 % $582.87 7.95 % $564.35 8.59 % 73

2006 721 -1.50 % $649,273 2.30 % $484,500 2.27 % $595.88 2.23 % $563.07 -0.23 % 105

2007 633 -12.21 % $640,841 -1.30 % $465,000 -4.02 % $582.35 -2.27 % $566.26 0.57 % 86

2008 501 -20.85 % $852,958 33.10 % $450,000 -3.23 % $602.96 3.54 % $558.94 -1.29 % 99

2004 983 17.30 % $566,180 9.07 % $437,000 12.05 % $539.96 10.10 % $519.70 9.82 % 47

2002 666 12.69 % $507,000 -8.64 % $385,000 1.34 % $487.64 1.43 % $456.21 3.91 % 39

2003 838 25.83 % $519,092 2.39 % $390,000 1.30 % $490.42 0.57 % $473.24 3.73 % 65

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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2008 Fourth Quarter Sales Summary

L I N K

Seaport 12 -20.00 % $513,006 -8.14 % $485,000 -13.59 % $467.60 -6.70 % $482.04 -2.58 % 42

North End 22 -12.00 % $496,675 16.99 % $390,000 0.00 % $664.38 7.40 % $605.47 -0.56 % 45

West End 9 0.00 % $385,167 9.13 % $375,000 7.14 % $401.31 -0.79 % $417.13 2.91 % 62

Waterfront 32 -20.00 % $875,514 -6.56 % $651,250 -0.57 % $676.89 -2.58 % $646.22 -0.80 % 173

South End 109 -28.29 % $580,083 -16.55 % $510,000 -6.85 % $582.04 -7.49 % $611.15 -2.60 % 99

South Boston 91 -18.75 % $351,233 -4.53 % $338,750 -5.38 % $353.58 -9.48 % $357.12 -7.95 % 104

Beacon Hill 32 3.23 % $883,211 20.89 % $527,500 7.65 % $737.14 -2.00 % $686.09 -5.53 % 96

Back Bay 106 0.95 % $1,982,941 111.15 % $917,500 44.94 % $888.92 19.57 % $765.47 5.33 % 110

Midtown 10 -52.38 % $1,335,100 61.59 % $1,255,000 80.58 % $796.93 24.22 % $800.85 40.91 % 73

Leather District 5 -61.54 % $560,000 -46.04 % $575,000 -6.73 % $401.39 -13.52 % $401.39 -1.61 % 167

Fenway 24 -41.46 % $323,815 3.25 % $308,750 9.10 % $482.01 -8.03 % $489.46 -1.29 % 62

Charlestown 49 -28.99 % $432,605 -12.68 % $392,000 -11.71 % $415.39 -6.18 % $416.67 -2.11 % 93

City Sales %+- Avg Sell %+- Med Sell %+- Avg Psf %+- Med Psf %+- DOM

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Beds

Citywide

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 239 -8.78 % $935,706 39.58 % $530,100 -0.44 % $609.22 9.80 % $550.76 4.80 % 113

2007 262 -17.61 % $670,391 -11.12 % $532,450 -13.95 % $554.86 -5.38 % $525.52 -4.55 % 100

2006 318 9.28 % $754,281 13.84 % $618,750 7.81 % $586.41 4.77 % $550.59 -0.15 % 104Two

Beds

2008 58 -14.71 % $1,602,961 15.68 % $825,000 -26.34 % $629.91 -0.85 % $461.85 -27.45 % 110

2007 68 36.00 % $1,385,740 -1.29 % $1,120,000 -0.11 % $635.33 0.27 % $636.56 4.19 % 79

2006 50 -31.51 % $1,403,895 -5.71 % $1,121,250 -4.98 % $633.62 -1.43 % $610.96 4.05 % 179ThreePlus

Beds

2008 22 -45.00 % $264,627 -19.01 % $263,850 2.07 % $588.41 -4.72 % $602.01 -2.55 % 80

2007 40 37.93 % $326,728 23.78 % $258,500 -2.45 % $617.55 -2.65 % $617.73 3.20 % 63

2006 29 -19.44 % $263,948 -7.12 % $265,000 -7.02 % $634.38 2.02 % $598.59 2.68 % 72

Studio

2008 157 -27.31 % $577,031 32.95 % $385,000 -2.53 % $594.79 0.19 % $565.17 -3.96 % 73

2007 216 -13.25 % $434,037 -5.77 % $395,000 1.28 % $593.64 -1.86 % $588.46 1.55 % 74

2006 249 1.63 % $460,602 4.39 % $390,000 -1.27 % $604.88 2.56 % $579.47 0.32 % 86OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Citywide

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 29 -42.00 % $1,119,309 0.21 % $1,085,000 -3.13 % $678.92 1.66 % $646.22 -4.88 % 162

2007 50 -21.88 % $1,116,939 -1.93 % $1,120,000 -0.55 % $667.84 -5.95 % $679.39 -4.58 % 106

2006 64 25.49 % $1,138,977 29.44 % $1,126,250 29.16 % $710.10 35.93 % $711.97 31.92 % 1021501-1800

2008 30 -14.29 % $1,565,503 21.60 % $1,512,500 20.28 % $761.65 18.68 % $740.78 12.46 % 164

2007 35 -20.45 % $1,287,439 -11.36 % $1,257,500 -5.98 % $641.75 -11.05 % $658.70 -3.92 % 68

2006 44 -6.38 % $1,452,395 8.74 % $1,337,500 9.63 % $721.45 9.63 % $685.54 13.18 % 1521800-2400

2008 37 105.56 % $4,371,264 72.46 % $4,500,000 77.17 % $1,156.08 50.94 % $1,257.07 62.15 % 110

2007 18 20.00 % $2,534,708 4.65 % $2,540,000 7.06 % $765.90 -4.23 % $775.23 -8.60 % 107

2006 15 -37.50 % $2,422,083 -9.38 % $2,372,500 -11.31 % $799.72 -7.10 % $848.21 -2.45 % 176Over2400

2008 117 -29.94 % $323,495 -1.06 % $308,500 -1.91 % $588.25 -4.23 % $582.71 -4.96 % 70

2007 167 3.09 % $326,948 1.82 % $314,500 2.03 % $614.25 2.54 % $613.14 5.68 % 59

2006 162 -19.80 % $321,116 -3.31 % $308,250 -5.67 % $599.04 -1.29 % $580.18 -3.78 % 85700 or

Less

2008 143 -13.86 % $429,722 -3.43 % $400,000 -4.99 % $509.15 -3.76 % $482.05 -6.83 % 71

2007 166 -11.70 % $444,962 1.83 % $421,000 1.45 % $529.07 0.51 % $517.38 4.14 % 69

2006 188 6.82 % $436,957 -4.70 % $415,000 -7.68 % $526.36 -4.08 % $496.79 -9.66 % 88701-

1000

2008 131 -18.63 % $617,105 -7.50 % $577,000 -6.79 % $509.13 -6.44 % $487.02 -4.32 % 117

2007 161 -19.90 % $667,167 -5.08 % $619,000 -5.50 % $544.21 -6.06 % $509.03 -7.18 % 124

2006 201 14.20 % $702,883 2.83 % $655,000 0.77 % $579.29 5.51 % $548.41 2.68 % 1211001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Citywide

Inventory

Fourth Quarter 2008

L I N K

Page 9: 2008 Fourth Quarter Sales Summaryc3155192.r92.cf0.rackcdn.com/ckeditor_assets/...Constellation Wharf Ninth St Charlestown Carillon, The 183-185 Massachusetts Ave Back Bay Carlton House,

140 Newbury Street

Boston, MA 02116

617-267-5465

2008 Fourth Quarter

Sales Summary

CitywideLuxury Buildings

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Barnes Mansion 10 Charlesgate E Back Bay

Basilica, The 106 Thirteenth St Charlestown

Atelier 505 505 Tremont St South End

Audubon Park 16 Miner St Fenway

Battery Wharf (2) 2 Battery Wharf Waterfront

Belvedere 100 Belvidere St Back Bay

Bowdoin Place 10 Bowdoin St Beacon Hill

Battery Wharf (3) 3 Battery Wharf Waterfront

Battery Wharf (4) 4 Battery Wharf Waterfront

285 Columbus Lofts 285 Columbus Ave Back Bay

3 Avery St 3 Avery St Midtown

1 Charles St South 1 Charles St S Back Bay

330 Beacon St 324-330 Beacon St Back Bay

45 Province 45 Province St Midtown

Albert A Pope 221 Columbus Ave Back Bay

360 Newbury 360 Newbury St Back Bay

44 Prince 44 Prince St North End

Broadluxe 99-107 Broad St Waterfront

Court Square Press Bldg 9 W Broadway Seaport

D4 7 Warren Ave South End

Columbus Court/Tileston 20-21 Tileston St North End

Constellation Wharf Ninth St Charlestown

Carillon, The 183-185 Massachusetts Ave Back Bay

Carlton House, The 2 Commonwealth Ave Back Bay

Bryant, The 303 Columbus Ave South End

Burroughs Wharf 40-50 Battery St Waterfront

Channel Ctr (25) 25 Channel Ctr Seaport

Clarendon, The 400 Stuart St Back Bay

Columbus Court/N Bennet 21 N Bennet St North End

Charlesgate, The 4 Charlesgate E Back Bay

Charlesview 534 Beacon St Back Bay

Building Name Address City

Luxury Building List

L I N K

Ritz Tower I (1) 1 Avery St Midtown

Prince, The 201 Newbury St Back Bay

Ritz Tower II (2) 2 Avery St Midtown

River House, The 145 Pinckney St Beacon Hill

Penmark, The 21 Father Francis Gilday St South End

Metropolitan, The 1 Nassau St Leather District

Orchard Hill 342 Bunker Hill St Charlestown

Parris Landing 42 Eighth St Charlestown

Parkside 168-170 Tremont St Midtown

Greenway Place 199 State St Waterfront

Grandview 165 Tremont St Midtown

Harbor Towers I (85) 85 E India Row Waterfront

Harborview 240 First Ave Charlestown

Harbor Towers II (65) 65 E India Row Waterfront

Fulton Court 100 Fulton St Waterfront

Flagship Wharf 197 Eighth St Charlestown

Marlborough, The 416 Marlborough St Back Bay

Folio 80 Broad St Waterfront

Four Seasons 220 Boylston St Back Bay

Fort Point Place 21 Wormwood St Seaport

Lincolnshire 15 River St Beacon Hill

Lincoln Wharf 357 Commercial St Waterfront

Macallen Building 141 Dorchester Ave Seaport

Mariner, The 300 Commercial St Waterfront

Mandarin, The 776 Boylston St Back Bay

Lewis Wharf 28 Atlantic Ave Waterfront

Hawthorne Place (9) 9 Hawthorne Pl West End

Hawthorne Place (2) 2 Hawthorne Pl West End

Heritage 300 Boylston St Back Bay

Le Jardin 250 Boylston St Back Bay

Intercontinental, The 500 Atlantic Ave Waterfront

Building Name Address City

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Whittier Place (6) 6 Whittier Pl West End

West End Place 150 Staniford St West End

Union Wharf 343 Commercial St Waterfront

Windsor Place 390 Commonwealth Ave Back Bay

Wilkes Passage 1313 Washington St South End

Whittier Place (8) 8 Whittier Pl West End

Zero Marlborough 6 Arlington St Back Bay

Somerset 416 Commonwealth Ave Back Bay

Rowes Wharf 10-20 Rowes Whf Waterfront

Tudor, The 34.5 Beacon St Beacon Hill

Trinity Place 1 Huntington Ave Back Bay

Trem-On-Comm 151 Tremont St Midtown

Strada234 234 Causeway St North End

Building Name Address City

Luxury Building List

L I N K

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Luxury Buildings

Quarterly Sales Summary

Fourth Quarter 2008

2005 174 -47.59 % $867,472 27.19 % $647,500 22.87 % $654.58 17.15 % $604.53 12.81 % 73

2006 224 28.74 % $996,182 14.84 % $826,250 27.61 % $738.93 12.89 % $736.64 21.85 % 99

2007 115 -48.66 % $865,271 -13.14 % $655,000 -20.73 % $671.20 -9.17 % $656.32 -10.90 % 90

2008 130 13.04 % $1,726,596 99.54 % $818,500 24.96 % $817.34 21.77 % $718.14 9.42 % 153

2004 332 114.19 % $682,044 -3.77 % $526,975 12.12 % $558.75 5.33 % $535.87 13.21 % 31

2002 159 10.42 % $792,026 -19.86 % $578,000 -13.99 % $576.37 -14.74 % $488.99 -26.66 % 43

2003 155 -2.52 % $708,761 -10.51 % $470,000 -18.69 % $530.46 -7.96 % $473.33 -3.20 % 87

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Beds

Luxury Buildings

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 66 65.00 % $1,983,585 88.21 % $1,217,500 29.35 % $891.43 20.59 % $813.43 11.14 % 179

2007 40 -64.29 % $1,053,913 -7.44 % $941,250 -10.36 % $739.19 -3.39 % $731.91 -0.34 % 124

2006 112 60.00 % $1,138,666 22.39 % $1,050,000 23.54 % $765.11 16.50 % $734.39 18.09 % 95Two

Beds

2008 13 -13.33 % $3,381,469 81.14 % $2,848,877 72.67 % $1,122.44 35.66 % $1,125.83 40.60 % 154

2007 15 -16.67 % $1,866,820 1.02 % $1,649,900 -15.39 % $827.37 9.96 % $800.75 -0.25 % 64

2006 18 20.00 % $1,847,972 -30.72 % $1,950,000 -16.84 % $752.42 -22.25 % $802.76 -13.01 % 205ThreePlus

Beds

2008 5 -37.50 % $311,800 -16.81 % $290,000 -8.66 % $523.49 -8.32 % $502.97 -5.59 % 84

2007 8 33.33 % $374,825 13.38 % $317,500 -4.51 % $571.01 -24.43 % $532.74 -32.04 % 80

2006 6 -50.00 % $330,583 -4.61 % $332,500 13.29 % $755.60 37.39 % $783.85 70.26 % 6

Studio

2008 38 -24.00 % $1,170,801 133.77 % $524,500 22.69 % $640.29 8.49 % $574.90 0.80 % 91

2007 50 -39.02 % $500,836 -24.03 % $427,500 -32.54 % $590.19 -15.55 % $570.34 -20.85 % 75

2006 82 15.49 % $659,283 25.95 % $633,750 38.04 % $698.90 14.52 % $720.59 23.85 % 90OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Luxury Buildings

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 13 -18.75 % $1,502,846 9.28 % $1,362,500 -7.94 % $899.98 10.83 % $830.90 -2.73 % 263

2007 16 -64.44 % $1,375,199 6.71 % $1,479,950 16.07 % $812.01 0.43 % $854.25 5.26 % 96

2006 45 221.43 % $1,288,722 16.09 % $1,275,000 32.40 % $808.51 23.64 % $811.58 44.09 % 831501-1800

2008 14 75.00 % $2,185,457 38.46 % $1,987,500 23.26 % $1,054.65 33.40 % $974.43 24.69 % 205

2007 8 -68.00 % $1,578,419 -2.01 % $1,612,450 -0.77 % $790.61 -2.00 % $781.47 -7.31 % 73

2006 25 47.06 % $1,610,720 3.57 % $1,625,000 -7.14 % $806.74 5.84 % $843.15 1.28 % 1761800-2400

2008 25 316.67 % $5,240,391 124.03 % $4,988,357 96.39 % $1,399.75 78.98 % $1,454.66 77.07 % 119

2007 6 -33.33 % $2,339,167 -7.88 % $2,540,000 6.95 % $782.06 -9.77 % $821.53 -3.39 % 85

2006 9 0.00 % $2,539,167 -20.13 % $2,375,000 -13.64 % $866.78 -11.49 % $850.36 -23.01 % 64Over2400

2008 8 -42.86 % $341,563 -6.48 % $295,000 -21.02 % $560.15 -8.35 % $537.20 -9.66 % 62

2007 14 -33.33 % $365,214 -16.65 % $373,500 -6.63 % $611.17 -19.63 % $594.66 -19.23 % 103

2006 21 -43.24 % $438,157 17.80 % $400,000 11.14 % $760.50 24.30 % $736.21 20.69 % 78700 or

Less

2008 27 -30.77 % $457,180 -5.23 % $419,000 2.20 % $531.27 -7.96 % $503.40 -6.87 % 131

2007 39 -7.14 % $482,397 -12.90 % $410,000 -27.75 % $577.22 -12.84 % $540.54 -19.97 % 81

2006 42 -4.55 % $553,831 5.94 % $567,500 10.30 % $662.22 7.58 % $675.41 17.59 % 56701-

1000

2008 38 18.75 % $694,157 -17.47 % $690,000 -9.80 % $575.87 -16.65 % $564.67 -15.35 % 118

2007 32 -60.00 % $841,069 -1.34 % $765,000 -6.13 % $690.93 -1.13 % $667.04 -0.99 % 102

2006 80 60.00 % $852,451 5.19 % $815,000 8.31 % $698.83 11.69 % $673.74 12.69 % 1181001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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140 Newbury Street

Boston, MA 02116

617-267-5465

Back Bay2008 Fourth Quarter

Sales Summary

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Back Bay

Five Year Price Index

(Appreciation Rate)

L I N K

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Back Bay

Quarterly Sales Summary

Fourth Quarter 2008

2005 99 -48.17 % $1,053,029 31.05 % $720,000 14.29 % $760.95 14.09 % $734.69 15.74% 98

2006 116 17.17 % $899,855 -14.55 % $664,125 -7.76 % $734.31 -3.50 % $685.39 -6.71% 113

2007 105 -9.48 % $939,100 4.36 % $633,000 -4.69 % $743.46 1.25 % $726.72 6.03% 82

2008 106 0.95 % $1,982,941 111.15 % $917,500 44.94 % $888.92 19.57 % $765.47 5.33% 110

2004 191 23.23 % $803,556 1.53 % $630,000 12.50 % $667.00 4.70 % $634.78 1.90% 48

2002 119 13.33 % $833,852 40.55 % $560,000 32.76 % $660.41 20.26 % $605.44 15.79% 46

2003 155 30.25 % $791,479 -5.08 % $560,000 0.00 % $637.06 -3.54 % $622.94 2.89% 82

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Back Bay

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 50 16.28 % $2,316,753 152.89 % $1,362,500 68.21 % $991.78 37.94 % $848.05 20.83 % 136

2007 43 -8.51 % $916,108 -11.66 % $810,000 -12.90 % $718.99 -1.84 % $701.85 5.61 % 98

2006 47 20.51 % $1,037,056 -2.38 % $930,000 6.29 % $732.45 -2.81 % $664.56 -7.98 % 96Two

Beds

2008 12 -14.29 % $3,948,883 64.66 % $3,937,500 81.03 % $1,186.52 29.96 % $1,178.28 26.44 % 110

2007 14 40.00 % $2,398,143 11.80 % $2,175,000 -0.16 % $912.97 1.43 % $931.91 2.26 % 61

2006 10 -44.44 % $2,145,075 -6.55 % $2,178,500 2.52 % $900.08 -0.19 % $911.34 4.81 % 252ThreePlus

Beds

2008 6 -53.85 % $297,333 0.52 % $282,000 -1.05 % $652.74 -7.67 % $644.82 -9.98 % 68

2007 13 116.67 % $295,808 21.32 % $285,000 13.10 % $706.96 1.75 % $716.33 6.49 % 76

2006 6 20.00 % $243,833 -22.41 % $252,000 -20.50 % $694.81 -11.62 % $672.67 -21.80 % 59

Studio

2008 36 16.13 % $1,159,265 126.82 % $436,500 -6.13 % $699.29 -2.36 % $696.87 -1.94 % 86

2007 31 -38.00 % $511,097 -12.75 % $465,000 -15.84 % $716.15 2.49 % $710.64 3.35 % 71

2006 50 42.86 % $585,807 10.92 % $552,500 16.32 % $698.79 0.82 % $687.62 0.80 % 109OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Back Bay

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 7 -36.36 % $1,440,714 8.34 % $1,400,000 2.19 % $865.62 9.77 % $830.90 5.88% 188

2007 11 -8.33 % $1,329,750 -2.42 % $1,370,000 8.51 % $788.59 -4.66 % $784.75 0.63% 102

2006 12 33.33 % $1,362,708 11.83 % $1,262,500 -2.13 % $827.15 13.76 % $779.82 -1.12% 1151501-1800

2008 13 62.50 % $2,127,800 18.46 % $1,975,000 7.48 % $1,032.84 15.78 % $978.82 10.32% 157

2007 8 -33.33 % $1,796,250 0.49 % $1,837,500 2.08 % $892.07 -0.29 % $887.29 -2.15% 69

2006 12 20.00 % $1,787,417 3.49 % $1,800,000 0.56 % $894.69 4.24 % $906.78 8.12% 1521800-2400

2008 26 333.33 % $5,315,184 53.43 % $4,994,179 46.35 % $1,378.58 41.43 % $1,433.84 47.79% 86

2007 6 20.00 % $3,464,167 20.02 % $3,412,500 37.88 % $974.77 1.95 % $970.16 -1.06% 86

2006 5 -58.33 % $2,886,250 10.26 % $2,475,000 -10.16 % $956.15 5.47 % $980.59 12.77% 316Over2400

2008 18 -43.75 % $353,444 -3.69 % $367,500 -4.92 % $682.02 -5.51 % $680.59 -5.68% 59

2007 32 33.33 % $367,000 1.90 % $386,500 22.70 % $721.81 -0.08 % $721.60 7.83% 65

2006 24 0.00 % $360,145 -11.57 % $315,000 -18.55 % $722.37 -1.95 % $669.22 -3.99% 99700 or

Less

2008 19 -5.00 % $507,768 -0.92 % $508,000 -0.10 % $622.80 -1.66 % $633.71 -1.47% 63

2007 20 -31.03 % $512,470 -7.69 % $508,500 -11.18 % $633.30 -6.34 % $643.20 -5.30% 85

2006 29 81.25 % $555,155 1.14 % $572,500 -1.30 % $676.17 0.88 % $679.17 -4.05% 102701-

1000

2008 23 -4.17 % $793,087 -8.84 % $830,000 4.73 % $642.90 -12.66 % $698.64 -2.80% 146

2007 24 -27.27 % $870,021 5.78 % $792,500 1.73 % $736.07 10.12 % $718.78 11.29% 98

2006 33 26.92 % $822,500 -13.06 % $779,000 -6.99 % $668.40 -10.43 % $645.85 -8.43% 851001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Back Bay

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

Beacon Hill2008 Fourth Quarter

Sales Summary

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Beacon Hill

Five Year Price Index

(Appreciation Rate)

L I N K

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Beacon Hill

Quarterly Sales Summary

Fourth Quarter 2008

2005 68 15.25 % $759,306 25.51 % $503,750 6.05 % $707.46 2.36 % $716.25 7.01% 105

2006 36 -47.06 % $578,056 -23.87 % $445,000 -11.66 % $726.34 2.67 % $691.49 -3.46% 82

2007 31 -13.89 % $730,589 26.39 % $490,000 10.11 % $752.18 3.56 % $726.23 5.02% 122

2008 32 3.23 % $883,211 20.89 % $527,500 7.65 % $737.14 -2.00 % $686.09 -5.53% 96

2004 59 63.89 % $604,965 -7.51 % $475,000 -0.63 % $691.12 10.52 % $669.35 16.39% 72

2002 52 40.54 % $434,795 -25.35 % $359,500 10.62 % $562.75 0.63 % $559.32 8.01% 23

2003 36 -30.77 % $654,061 50.43 % $478,000 32.96 % $625.31 11.12 % $575.10 2.82% 84

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Beacon Hill

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 13 0.00 % $865,027 -16.36 % $805,000 2.55 % $736.26 -0.77 % $693.46 0.88 % 147

2007 13 44.44 % $1,034,215 75.36 % $785,000 69.55 % $741.96 10.68 % $687.39 -0.59 % 103

2006 9 -66.67 % $589,778 -23.36 % $463,000 -31.81 % $670.37 -2.31 % $691.49 0.76 % 104Two

Beds

2008 2 $5,250,000 $5,250,000 $1,084.18 $1,084.18 136

2007 0 -100.00

2006 4 -50.00 % $1,382,500 -32.73 % $1,107,500 -22.89 % $813.61 6.70 % $765.72 15.55 % 56ThreePlus

Beds

2008 3 50.00 % $214,667 -26.48 % $179,000 -38.70 % $725.52 3.68 % $688.46 -1.61 % 69

2007 2 0.00 % $292,000 50.13 % $292,000 50.13 % $699.73 4.68 % $699.73 4.68 % 141

2006 2 -60.00 % $194,500 -19.16 % $194,500 -10.78 % $668.48 -7.59 % $668.48 -10.40 % 62

Studio

2008 14 7.69 % $419,529 -17.39 % $350,000 -17.65 % $690.87 -10.33 % $612.23 -18.37 % 31

2007 13 -18.75 % $507,846 18.70 % $425,000 -0.58 % $770.47 3.67 % $750.00 8.83 % 141

2006 16 -36.00 % $427,844 -6.68 % $427,500 9.90 % $743.23 3.91 % $689.12 -4.95 % 76OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Beacon Hill

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 2 0.00 % $980,000 -37.48 % $980,000 -37.48 % $622.03 -34.79 % $622.03 -34.79% 6

2007 2 $1,567,500 $1,567,500 $953.90 $953.90 128

2006 0 -100.00 %

1501-1800

2008 1 0.00 % $2,075,000 58.64 % $2,075,000 58.64 % $892.47 26.57 % $892.47 26.57% 93

2007 1 0.00 % $1,308,000 -49.69 % $1,308,000 -49.69 % $705.12 -35.29 % $705.12 -35.29%

2006 1 -85.71 % $2,600,000 71.33 % $2,600,000 77.78 % $1,089.69 45.26 % $1,089.69 56.10% 191800-2400

2008 2 0.00 % $5,250,000 175.41 % $5,250,000 175.41 % $1,084.18 53.96 % $1,084.18 53.96% 136

2007 2 $1,906,250 $1,906,250 $704.22 $704.22 212

2006 0 -100.00 %

Over2400

2008 13 -7.14 % $334,531 -10.78 % $316,000 -12.22 % $743.15 -2.63 % $688.46 -9.51% 32

2007 14 -17.65 % $374,950 -2.19 % $360,000 -8.63 % $763.18 3.10 % $760.83 7.84% 119

2006 17 -48.48 % $383,353 3.82 % $394,000 5.07 % $740.23 6.42 % $705.51 -2.69% 76700 or

Less

2008 10 233.33 % $552,625 -19.01 % $575,000 -13.53 % $638.95 -15.26 % $604.97 -11.21% 144

2007 3 -62.50 % $682,333 36.45 % $665,000 36.62 % $753.98 17.43 % $681.35 6.12% 105

2006 8 -27.27 % $500,063 -14.56 % $486,750 -9.02 % $642.06 -11.34 % $642.03 -15.40% 99701-

1000

2008 4 -33.33 % $963,150 13.78 % $843,800 13.26 % $808.27 18.48 % $803.32 22.58% 161

2007 6 20.00 % $846,500 -14.58 % $745,000 -23.59 % $682.21 -7.97 % $655.33 -5.23% 102

2006 5 -44.44 % $991,000 20.27 % $975,000 14.71 % $741.29 16.83 % $691.49 6.58% 881001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Beacon Hill

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

Charlestown2008 Fourth Quarter

Sales Summary

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Charlestown

Five Year Price Index

(Appreciation Rate)

L I N K

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Charlestown

Quarterly Sales Summary

Fourth Quarter 2008

2005 86 -59.43 % $473,996 6.37 % $423,226 6.95 % $511.03 12.53 % $530.05 17.68% 60

2006 51 -40.70 % $464,397 -2.03 % $439,100 3.75 % $468.38 -8.35 % $466.67 -11.96% 105

2007 69 35.29 % $495,449 6.69 % $444,000 1.12 % $442.77 -5.47 % $425.66 -8.79% 87

2008 49 -28.99 % $432,605 -12.68 % $392,000 -11.71 % $415.39 -6.18 % $416.67 -2.11% 93

2004 212 165.00 % $445,628 0.01 % $395,725 -0.63 % $454.11 9.22 % $450.44 8.51% 28

2002 74 -17.78 % $424,404 0.47 % $374,750 -9.70 % $410.96 9.84 % $419.13 12.67% 37

2003 80 8.11 % $445,582 4.99 % $398,250 6.27 % $415.79 1.17 % $415.12 -0.96% 65

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Charlestown

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 25 -34.21 % $403,350 -17.30 % $395,000 -10.98 % $392.78 -12.91 % $400.51 -11.10 % 98

2007 38 80.95 % $487,697 -8.33 % $443,725 -11.08 % $450.99 -0.16 % $450.50 6.92 % 97

2006 21 -40.00 % $531,986 -1.65 % $499,000 -8.44 % $451.70 -7.42 % $421.35 -9.72 % 108Two

Beds

2008 7 -46.15 % $636,418 -10.33 % $580,000 -13.43 % $385.79 -5.02 % $392.78 8.23 % 84

2007 13 225.00 % $709,769 5.03 % $670,000 -0.59 % $406.19 3.98 % $362.90 2.31 % 58

2006 4 -33.33 % $675,750 -0.10 % $674,000 2.82 % $390.63 -3.01 % $354.71 -8.44 % 179ThreePlus

Beds

2008 1 $254,000 $254,000 $502.97 $502.97 224

2007 0

2006 0 -100.00

Studio

2008 12 9.09 % $376,813 1.42 % $365,000 5.04 % $472.45 3.25 % $454.12 8.22 % 71

2007 11 -42.11 % $371,551 4.30 % $347,500 -5.44 % $457.56 -9.07 % $419.64 -17.98 % 80

2006 19 -52.50 % $356,239 -6.67 % $367,500 -4.26 % $503.18 -7.06 % $511.65 -10.23 % 90OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Charlestown

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 0 -100.00 %

2007 2 100.00 % $712,500 -7.47 % $712,500 -7.47 % $398.01 -14.81 % $398.01 -14.81% 19

2006 1 -75.00 % $770,000 5.81 % $770,000 13.53 % $467.23 11.16 % $467.23 21.69% 2151501-1800

2008 3 -50.00 % $701,333 -17.08 % $655,000 -18.63 % $330.35 -23.67 % $339.20 -16.55% 131

2007 6 500.00 % $845,842 -8.06 % $805,000 -12.50 % $432.77 -15.14 % $406.49 -20.29% 82

2006 1 -75.00 % $920,000 16.39 % $920,000 18.34 % $509.98 22.93 % $509.98 24.01%

1800-2400

2008 1 -50.00 % $1,015,000 -18.80 % $1,015,000 -18.80 % $402.46 -20.09 % $402.46 -20.09% 129

2007 2 100.00 % $1,250,000 38.89 % $1,250,000 38.89 % $503.64 46.78 % $503.64 46.78% 42

2006 1 $900,000 $900,000 $343.12 $343.12 92Over2400

2008 8 14.29 % $268,616 -5.04 % $259,500 -17.62 % $434.50 -3.42 % $446.21 -7.93% 181

2007 7 -22.22 % $282,880 -11.26 % $315,000 0.00 % $449.88 -12.06 % $484.62 -0.62% 43

2006 9 -66.67 % $318,756 -6.25 % $315,000 -7.08 % $511.57 -10.01 % $487.62 -15.59% 147700 or

Less

2008 14 -26.32 % $390,725 7.14 % $377,500 8.63 % $471.04 9.10 % $466.32 11.12% 67

2007 19 18.75 % $364,679 -7.74 % $347,500 -12.03 % $431.76 -9.19 % $419.64 -16.22% 79

2006 16 -42.86 % $395,290 -5.02 % $395,000 -3.65 % $475.45 -5.28 % $500.89 -5.76% 56701-

1000

2008 19 -26.92 % $451,387 -15.79 % $452,000 -15.67 % $380.45 -15.45 % $400.51 -7.27% 58

2007 26 62.50 % $536,056 -3.19 % $536,000 1.95 % $449.96 1.73 % $431.91 3.21% 111

2006 16 -20.00 % $553,738 -6.99 % $525,755 -7.56 % $442.31 -8.54 % $418.48 -6.91% 1291001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Charlestown

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

Fenway2008 Fourth Quarter

Sales Summary

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Fenway

Five Year Price Index

(Appreciation Rate)

L I N K

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Fenway

Quarterly Sales Summary

Fourth Quarter 2008

2005 61 24.49 % $383,154 22.79 % $350,000 13.82 % $512.55 10.72 % $541.80 15.44% 57

2006 39 -36.07 % $311,624 -18.67 % $277,500 -20.71 % $515.34 0.54 % $525.36 -3.03% 31

2007 41 5.13 % $313,610 0.64 % $283,000 1.98 % $524.12 1.70 % $495.87 -5.61% 45

2008 24 -41.46 % $323,815 3.25 % $308,750 9.10 % $482.01 -8.03 % $489.46 -1.29% 62

2004 49 -27.94 % $312,034 8.97 % $307,500 9.82 % $462.94 6.23 % $469.33 5.53% 40

2002 40 81.82 % $247,200 10.41 % $247,250 18.87 % $368.67 11.21 % $384.99 10.59% 30

2003 68 70.00 % $286,359 15.84 % $280,000 13.25 % $435.79 18.21 % $444.73 15.52% 30

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Fenway

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 9 12.50 % $420,178 -20.59 % $409,000 -16.45 % $465.87 -13.64 % $477.43 -4.90 % 56

2007 8 -11.11 % $529,125 28.00 % $489,500 19.39 % $539.43 5.00 % $502.05 4.59 % 14

2006 9 -68.97 % $413,389 -11.31 % $410,000 -14.41 % $513.72 3.09 % $480.00 -13.94 % 43Two

Beds

2008 0

2007 0 -100.00

2006 1 -75.00 % $270,000 -46.72 % $270,000 -33.58 % $234.78 -40.15 % $234.78 -40.90 %ThreePlus

Beds

2008 2 -75.00 % $242,625 18.50 % $242,625 21.31 % $649.95 30.77 % $649.95 34.84 % 60

2007 8 166.67 % $204,750 -19.68 % $200,000 -21.57 % $497.02 -18.48 % $482.00 -17.21 % 51

2006 3 0.00 % $254,917 27.63 % $255,000 19.00 % $609.69 13.34 % $582.19 9.53 % 25

Studio

2008 13 -43.48 % $269,592 -3.44 % $278,000 -1.77 % $467.36 -11.52 % $483.87 -10.24 % 65

2007 23 -4.17 % $279,196 4.44 % $283,000 8.85 % $528.23 2.40 % $539.05 2.17 % 52

2006 24 4.35 % $267,338 -7.35 % $260,000 -5.45 % $515.84 -5.89 % $527.62 -2.91 % 29OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Fenway

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 0

2007 0

2006 01501-1800

2008 0

2007 0

2006 0 -100.00 %

1800-2400

2008 0

2007 0

2006 0Over2400

2008 15 -51.61 % $271,577 3.10 % $257,500 -0.96 % $518.08 -1.47 % $500.90 -5.25% 56

2007 31 14.81 % $263,403 -3.51 % $260,000 0.00 % $525.78 -3.29 % $528.67 -3.98% 53

2006 27 17.39 % $272,994 8.11 % $260,000 8.33 % $543.70 1.24 % $550.56 1.62% 23700 or

Less

2008 3 -40.00 % $380,433 -14.39 % $385,000 -17.03 % $451.18 -8.13 % $477.43 0.32% 79

2007 5 -44.44 % $444,400 13.29 % $464,000 18.97 % $491.11 6.43 % $475.90 0.67% 12

2006 9 -62.50 % $392,278 -8.04 % $390,000 -9.09 % $461.44 -10.20 % $472.73 -13.05% 63701-

1000

2008 6 100.00 % $426,100 -32.90 % $428,500 -16.80 % $407.27 -27.53 % $427.00 -3.16% 49

2007 3 200.00 % $635,000 135.19 % $515,000 90.74 % $562.01 139.37 % $440.92 87.80% 7

2006 1 -90.00 % $270,000 -48.86 % $270,000 -53.16 % $234.78 -52.01 % $234.78 -58.25%

1001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Fenway

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

Leather District2008 Fourth Quarter

Sales Summary

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Leather District

Five Year Price Index

(Appreciation Rate)

L I N K

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Leather District

Quarterly Sales Summary

Fourth Quarter 2008

2005 12 -20.00 % $567,583 -1.06 % $519,000 7.63 % $464.84 2.50 % $445.10 3.30% 67

2006 10 -16.67 % $439,763 -22.52 % $394,000 -24.08 % $497.62 7.05 % $497.11 11.69% 168

2007 13 30.00 % $1,037,835 136.00 % $616,500 56.47 % $464.16 -6.72 % $407.94 -17.94% 124

2008 5 -61.54 % $560,000 -46.04 % $575,000 -6.73 % $401.39 -13.52 % $401.39 -1.61% 167

2004 15 150.00 % $573,654 17.57 % $482,200 -12.53 % $453.49 22.99 % $430.89 13.34% 49

2002 6 $544,000 $555,000 $349.88 $374.32 90

2003 6 0.00 % $487,917 -10.31 % $551,250 -0.68 % $368.73 5.39 % $380.17 1.56% 39

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Leather District

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 1 -75.00 % $612,000 -31.71 % $612,000 -26.82 % $363.85 -25.34 % $363.85 -22.47 % 167

2007 4 0.00 % $896,188 51.06 % $836,250 45.56 % $487.33 5.71 % $469.29 -2.62 % 94

2006 4 0.00 % $593,250 5.84 % $574,500 11.77 % $461.00 -1.41 % $481.90 6.98 % 218Two

Beds

2008 0

2007 0

2006 0ThreePlus

Beds

2008 0

2007 0 -100.00

2006 2 $303,500 $303,500 $589.89 $589.89 59

Studio

2008 1 -83.33 % $575,000 -2.46 % $575,000 -7.74 % $438.93 -5.43 % $438.93 -6.08 %

2007 6 200.00 % $589,517 62.18 % $623,250 71.46 % $464.11 -13.43 % $467.35 -12.83 % 144

2006 2 -66.67 % $363,500 -41.47 % $363,500 -43.42 % $536.14 20.43 % $536.14 20.51 % 143OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Leather District

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 1 -50.00 % $612,000 -4.11 % $612,000 -4.11 % $363.85 -4.11 % $363.85 -4.11% 167

2007 2 0.00 % $638,250 -7.16 % $638,250 -7.16 % $379.46 -11.87 % $379.46 -11.87% 278

2006 2 100.00 % $687,500 -7.72 % $687,500 -7.72 % $430.57 -3.19 % $430.57 -3.19% 3721501-1800

2008 0 -100.00 %

2007 1 $1,257,500 $1,257,500 $676.08 $676.08 226

2006 0 -100.00 %

1800-2400

2008 0 -100.00 %

2007 1 $1,538,250 $1,538,250 $544.90 $544.90 34

2006 0Over2400

2008 0

2007 0 -100.00 %

2006 4 $333,500 $330,000 $563.01 $568.11 87700 or

Less

2008 0 -100.00 %

2007 2 0.00 % $394,800 14.33 % $394,800 14.33 % $470.62 6.94 % $470.62 6.94% 55

2006 2 -33.33 % $345,316 -14.95 % $345,316 -15.57 % $440.08 -9.93 % $440.08 -12.59% 192701-

1000

2008 1 -80.00 % $575,000 4.55 % $575,000 1.77 % $438.93 0.46 % $438.93 7.60%

2007 5 150.00 % $550,000 10.22 % $565,000 13.23 % $436.93 -11.09 % $407.94 -16.99% 117

2006 2 -71.43 % $499,000 -12.89 % $499,000 -10.09 % $491.43 6.75 % $491.43 10.39% 641001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Leather District

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

Midtown2008 Fourth Quarter

Sales Summary

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Midtown

Five Year Price Index

(Appreciation Rate)

L I N K

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Midtown

Quarterly Sales Summary

Fourth Quarter 2008

2005 48 -17.24 % $1,094,208 20.18 % $787,500 25.10 % $697.14 11.10 % $622.12 5.03% 48

2006 25 -47.92 % $1,265,480 15.65 % $1,010,000 28.25 % $863.10 23.81 % $919.64 47.82% 104

2007 21 -16.00 % $826,240 -34.71 % $695,000 -31.19 % $641.55 -25.67 % $568.32 -38.20% 95

2008 10 -52.38 % $1,335,100 61.59 % $1,255,000 80.58 % $796.93 24.22 % $800.85 40.91% 73

2004 58 123.08 % $910,445 -26.26 % $629,500 -14.30 % $627.51 -12.40 % $592.31 -11.96% 57

2002 23 -69.74 % $716,652 -46.91 % $677,000 -28.44 % $673.30 -16.40 % $702.48 -11.45% 68

2003 26 13.04 % $1,234,720 72.29 % $734,500 8.49 % $716.34 6.39 % $672.75 -4.23% 64

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Midtown

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 4 -55.56 % $1,618,750 92.00 % $1,415,000 103.60 % $888.46 38.75 % $952.95 53.58 % 113

2007 9 -40.00 % $843,114 -35.79 % $695,000 -32.52 % $640.34 -27.67 % $620.48 -33.62 % 178

2006 15 -11.76 % $1,313,000 22.91 % $1,030,000 7.74 % $885.34 34.98 % $934.77 60.64 % 87Two

Beds

2008 3 0.00 % $1,741,667 11.35 % $1,950,000 20.00 % $857.24 10.85 % $825.57 8.31 % 64

2007 3 0.00 % $1,564,167 -34.87 % $1,625,000 -20.73 % $773.31 -6.00 % $762.20 0.65 % 27

2006 3 -50.00 % $2,401,667 -25.81 % $2,050,000 -20.00 % $822.70 -16.87 % $757.30 -20.00 % 92ThreePlus

Beds

2008 0 -100.00

2007 1 $465,000 $465,000 $788.14 $788.14

2006 0

Studio

2008 3 -50.00 % $550,333 21.82 % $525,000 28.44 % $614.57 6.10 % $656.25 19.74 % 28

2007 6 -14.29 % $451,750 -33.24 % $408,750 -38.99 % $579.24 -30.44 % $548.05 -39.31 % 56

2006 7 -68.18 % $676,714 10.66 % $670,000 6.77 % $832.75 27.35 % $902.96 54.66 % 140OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Midtown

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 2 0.00 % $1,460,000 100.08 % $1,460,000 100.08 % $926.62 99.26 % $926.62 99.26% 28

2007 2 0.00 % $729,690 -59.85 % $729,690 -59.85 % $465.03 -59.38 % $465.03 -59.38%

2006 2 -75.00 % $1,817,500 85.32 % $1,817,500 90.51 % $1,144.73 97.99 % $1,144.73 110.11% 161501-1800

2008 2 0.00 % $1,962,500 -3.98 % $1,962,500 -3.98 % $897.81 -3.49 % $897.81 -3.49% 91

2007 2 -33.33 % $2,043,750 -11.91 % $2,043,750 -19.54 % $930.27 -13.28 % $930.27 -19.78% 27

2006 3 -40.00 % $2,320,000 41.59 % $2,540,000 45.14 % $1,072.73 37.02 % $1,159.68 39.30% 641800-2400

2008 1 $3,100,000 $3,100,000 $1,145.18 $1,145.18 232

2007 0 -100.00 %

2006 3 -25.00 % $2,401,667 -39.29 % $2,050,000 -47.60 % $822.70 -22.65 % $757.30 -27.62% 92Over2400

2008 0 -100.00 %

2007 2 0.00 % $420,000 3.45 % $420,000 3.45 % $671.85 -4.64 % $671.85 -4.64% 92

2006 2 0.00 % $406,000 -15.42 % $406,000 -15.42 % $704.55 -2.14 % $704.55 -2.14%

700 orLess

2008 2 -60.00 % $437,500 -13.38 % $437,500 1.74 % $566.22 -9.98 % $566.22 -2.56% 28

2007 5 25.00 % $505,100 -23.03 % $430,000 -39.44 % $629.00 -25.69 % $581.08 -36.73% 93

2006 4 -71.43 % $656,250 15.46 % $710,000 30.16 % $846.49 26.62 % $918.48 61.57% 29701-

1000

2008 3 -66.67 % $843,667 4.90 % $776,000 11.65 % $680.94 10.39 % $711.27 46.86% 61

2007 9 -18.18 % $804,294 -14.93 % $695,000 -30.50 % $616.85 -22.95 % $484.32 -47.34% 132

2006 11 -8.33 % $945,455 11.77 % $1,000,000 23.69 % $800.61 23.52 % $919.64 51.60% 2021001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Midtown

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

North End2008 Fourth Quarter

Sales Summary

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North End

Five Year Price Index

(Appreciation Rate)

L I N K

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North End

Quarterly Sales Summary

Fourth Quarter 2008

2005 25 -16.67 % $370,068 0.18 % $340,000 6.33 % $632.62 15.54 % $630.73 13.70% 42

2006 17 -32.00 % $527,735 42.60 % $415,000 22.06 % $635.04 0.38 % $661.76 4.92% 107

2007 25 47.06 % $424,536 -19.56 % $390,000 -6.02 % $618.62 -2.59 % $608.89 -7.99% 71

2008 22 -12.00 % $496,675 16.99 % $390,000 0.00 % $664.38 7.40 % $605.47 -0.56% 45

2004 30 -9.09 % $369,412 -13.55 % $319,750 -16.95 % $547.55 16.23 % $554.74 13.90% 45

2002 12 -7.69 % $370,846 0.46 % $292,500 -10.00 % $488.30 5.75 % $473.33 9.25% 51

2003 33 175.00 % $427,290 15.22 % $385,000 31.62 % $471.11 -3.52 % $487.03 2.89% 45

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

North End

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 15 50.00 % $559,727 10.75 % $545,000 23.16 % $615.98 5.20 % $608.84 6.90 % 45

2007 10 100.00 % $505,400 -16.10 % $442,500 -30.81 % $585.51 5.38 % $569.54 3.31 % 97

2006 5 66.67 % $602,400 8.02 % $639,500 33.23 % $555.63 -6.73 % $551.29 -6.74 % 105Two

Beds

2008 0 -100.00

2007 1 0.00 % $930,000 -38.00 % $930,000 -38.00 % $656.32 -18.57 % $656.32 -18.57 %

2006 1 0.00 % $1,500,000 229.67 % $1,500,000 229.67 % $806.02 39.41 % $806.02 39.41 % 138ThreePlus

Beds

2008 2 100.00 % $222,125 18.15 % $222,125 18.15 % $603.16 -6.96 % $603.16 -6.96 % 33

2007 1 $188,000 $188,000 $648.28 $648.28

2006 0

Studio

2008 4 -60.00 % $447,425 35.08 % $371,250 20.36 % $962.79 50.42 % $707.82 12.31 % 60

2007 10 0.00 % $331,240 -20.27 % $308,450 -17.42 % $640.06 -2.68 % $630.25 -4.76 % 34

2006 10 -37.50 % $415,450 23.61 % $373,500 13.23 % $657.65 2.32 % $661.76 3.47 % 105OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

North End

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 0

2007 0

2006 01501-1800

2008 0

2007 0 -100.00 %

2006 1 $1,500,000 $1,500,000 $806.02 $806.02 1381800-2400

2008 0

2007 0

2006 0Over2400

2008 10 -23.08 % $345,045 17.72 % $317,000 6.02 % $725.14 17.59 % $596.14 -2.09% 41

2007 13 62.50 % $293,108 -24.77 % $299,000 -9.67 % $616.64 -12.36 % $608.89 -11.88% 49

2006 8 -46.67 % $389,625 22.74 % $331,000 3.76 % $703.64 5.89 % $690.96 6.56% 122700 or

Less

2008 8 33.33 % $477,113 4.10 % $535,000 10.31 % $559.96 -8.43 % $609.72 -2.17% 41

2007 6 200.00 % $458,333 1.29 % $485,000 7.18 % $611.53 10.81 % $623.23 12.93% 23

2006 2 -50.00 % $452,500 6.60 % $452,500 6.47 % $551.89 -0.24 % $551.89 -0.99% 11701-

1000

2008 4 0.00 % $914,875 7.35 % $967,250 24.89 % $721.30 13.47 % $789.13 30.28% 61

2007 4 -20.00 % $852,250 35.51 % $774,500 21.11 % $635.69 21.23 % $605.74 9.88% 215

2006 5 150.00 % $628,900 -4.71 % $639,500 -3.11 % $524.35 -5.11 % $551.29 -0.24% 1201001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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North End

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

Seaport2008 Fourth Quarter

Sales Summary

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Seaport

Five Year Price Index

(Appreciation Rate)

L I N K

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Seaport

Quarterly Sales Summary

Fourth Quarter 2008

2005 12 -45.45 % $659,389 -2.57 % $678,000 5.94 % $439.31 -7.66 % $435.05 -0.38% 200

2006 18 50.00 % $673,750 2.18 % $684,500 0.96 % $455.34 3.65 % $447.29 2.81% 291

2007 15 -16.67 % $558,439 -17.11 % $561,250 -18.01 % $501.16 10.06 % $494.79 10.62% 83

2008 12 -20.00 % $513,006 -8.14 % $485,000 -13.59 % $467.60 -6.70 % $482.04 -2.58% 42

2004 22 -31.25 % $676,773 67.02 % $640,000 61.62 % $475.75 22.77 % $436.70 14.99% 97

2002 3 200.00 % $447,667 24.35 % $480,000 33.33 % $358.98 28.64 % $367.00 31.51% 66

2003 32 966.67 % $405,205 -9.49 % $396,000 -17.50 % $387.52 7.95 % $379.78 3.48% 73

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Seaport

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 6 200.00 % $618,650 -29.15 % $605,000 -30.71 % $450.15 3.51 % $482.04 10.84 % 67

2007 2 -71.43 % $873,125 18.13 % $873,125 20.43 % $434.88 -4.37 % $434.88 -4.07 % 38

2006 7 16.67 % $739,143 -13.23 % $725,000 -15.84 % $454.75 2.03 % $453.32 5.48 % 291Two

Beds

2008 0 -100.00

2007 1 -75.00 % $720,000 -26.90 % $720,000 -30.10 % $526.32 10.11 % $526.32 11.07 %

2006 4 $985,000 $1,030,000 $478.00 $473.84 560ThreePlus

Beds

2008 3 200.00 % $290,100 104.73 % $268,700 89.63 % $389.14 98.55 % $356.37 81.83 % -1

2007 1 $141,700 $141,700 $195.99 $195.99 1

2006 0

Studio

2008 2 -77.78 % $566,937 8.41 % $566,937 2.15 % $539.61 -0.99 % $539.61 8.48 % 11

2007 9 50.00 % $522,960 15.00 % $555,000 21.51 % $545.02 23.37 % $497.42 14.65 % 118

2006 6 0.00 % $454,750 -2.61 % $456,750 -9.91 % $441.77 2.04 % $433.85 -3.21 % 159OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Seaport

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 0

2007 0 -100.00 %

2006 5 400.00 % $755,000 -20.44 % $730,000 -23.08 % $463.67 -14.69 % $424.67 -21.87% 3511501-1800

2008 1 $1,150,000 $1,150,000 $598.96 $598.96 18

2007 0 -100.00 %

2006 4 -20.00 % $992,500 19.23 % $1,030,000 19.77 % $462.18 8.46 % $473.84 11.80% 4321800-2400

2008 0 -100.00 %

2007 1 $1,185,000 $1,185,000 $390.06 $390.06 75

2006 0Over2400

2008 2 0.00 % $435,000 28.51 % $435,000 28.51 % $651.29 18.47 % $651.29 18.47% -1

2007 2 100.00 % $338,500 18.77 % $338,500 18.77 % $549.74 22.10 % $549.74 22.10%

2006 1 $285,000 $285,000 $450.24 $450.24 148700 or

Less

2008 4 0.00 % $264,300 -30.83 % $222,800 -40.90 % $288.46 -39.70 % $270.41 -45.16% 11

2007 4 100.00 % $382,085 -0.76 % $377,000 -2.08 % $478.38 2.05 % $493.08 5.19% 1

2006 2 0.00 % $385,000 -16.21 % $385,000 -16.21 % $468.77 -14.15 % $468.77 -14.15% 330701-

1000

2008 5 -28.57 % $615,775 1.39 % $640,000 0.00 % $511.17 -0.97 % $494.63 0.50% 76

2007 7 16.67 % $607,321 9.51 % $640,000 22.49 % $516.18 17.26 % $492.17 12.99% 98

2006 6 50.00 % $554,583 17.83 % $522,500 -1.04 % $440.21 16.95 % $435.60 3.76% 1751001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Seaport

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

South Boston2008 Fourth Quarter

Sales Summary

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South Boston

Five Year Price Index

(Appreciation Rate)

L I N K

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South Boston

Quarterly Sales Summary

Fourth Quarter 2008

2005 123 2.50 % $389,044 12.87 % $364,500 12.15 % $392.05 0.28 % $401.83 0.08% 79

2006 127 3.25 % $346,673 -10.89 % $331,000 -9.19 % $372.78 -4.92 % $372.82 -7.22% 106

2007 112 -11.81 % $367,881 6.12 % $358,000 8.16 % $390.60 4.78 % $387.98 4.06% 113

2008 91 -18.75 % $351,233 -4.53 % $338,750 -5.38 % $353.58 -9.48 % $357.12 -7.95% 104

2004 120 3.45 % $344,674 7.64 % $325,000 6.56 % $390.94 19.63 % $401.50 19.53% 62

2002 103 49.28 % $305,650 20.35 % $290,000 18.37 % $326.68 13.80 % $327.52 13.15% 38

2003 116 12.62 % $320,210 4.76 % $305,000 5.17 % $326.79 0.03 % $335.91 2.56% 53

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

South Boston

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 53 -18.46 % $336,159 -15.32 % $340,000 -11.69 % $352.05 -5.08 % $356.73 -5.04 % 107

2007 65 -9.72 % $396,995 8.24 % $385,000 5.48 % $370.91 1.36 % $375.66 2.23 % 138

2006 72 18.03 % $366,764 -4.90 % $365,000 -1.35 % $365.92 -6.53 % $367.46 -7.81 % 112Two

Beds

2008 17 70.00 % $481,483 6.31 % $472,000 4.31 % $311.59 -1.46 % $318.18 -8.41 % 109

2007 10 66.67 % $452,900 -17.33 % $452,500 -11.71 % $316.19 -4.47 % $347.38 14.13 % 105

2006 6 -57.14 % $547,833 7.85 % $512,500 4.65 % $330.99 -0.51 % $304.38 2.13 % 96ThreePlus

Beds

2008 0 -100.00

2007 3 0.00 % $259,667 32.03 % $274,000 37.00 % $563.42 34.85 % $518.87 32.60 % 81

2006 3 $196,667 $200,000 $417.83 $391.30 19

Studio

2008 18 -21.74 % $271,197 -11.59 % $275,000 -1.43 % $410.80 -9.92 % $415.46 -12.95 % 89

2007 23 -8.00 % $306,761 14.28 % $279,000 9.84 % $456.04 14.83 % $477.27 17.85 % 55

2006 25 47.06 % $268,420 -28.72 % $254,000 -11.50 % $397.16 -10.89 % $405.00 -9.00 % 103OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

South Boston

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 3 -57.14 % $452,667 -4.64 % $482,500 6.04 % $278.92 -6.56 % $292.42 -0.38% 37

2007 7 16.67 % $474,714 -2.94 % $455,000 -8.31 % $298.50 -0.07 % $293.55 0.87% 152

2006 6 -50.00 % $489,083 -9.42 % $496,250 7.36 % $298.70 -4.67 % $291.02 3.09% 1581501-1800

2008 4 0.00 % $479,125 -0.31 % $485,750 2.26 % $251.22 4.57 % $253.72 6.53% 217

2007 4 33.33 % $480,625 -25.68 % $475,000 -20.17 % $240.24 -25.40 % $238.18 -17.94% 47

2006 3 50.00 % $646,667 -5.25 % $595,000 -12.82 % $322.06 -2.45 % $290.24 -12.09% 2051800-2400

2008 3 200.00 % $675,000 7.31 % $800,000 27.19 % $259.69 23.86 % $300.55 43.34% 78

2007 1 $629,000 $629,000 $209.67 $209.67 82

2006 0 -100.00 %

Over2400

2008 18 -14.29 % $255,056 -5.34 % $265,000 -3.28 % $406.77 -17.26 % $422.74 -12.63% 71

2007 21 -8.70 % $269,448 9.34 % $274,000 12.76 % $491.61 18.18 % $483.87 19.47% 54

2006 23 15.00 % $246,435 -9.18 % $243,000 -13.83 % $415.97 -5.75 % $405.00 -7.98% 100700 or

Less

2008 35 6.06 % $317,106 -6.08 % $317,000 -6.76 % $375.18 -3.98 % $380.00 -2.06% 90

2007 33 -29.79 % $337,640 4.00 % $340,000 4.62 % $390.75 3.67 % $387.98 -1.36% 63

2006 47 56.67 % $324,660 -6.30 % $325,000 -8.11 % $376.91 -7.99 % $393.33 -2.59% 90701-

1000

2008 27 -22.86 % $395,149 -10.73 % $400,000 -6.54 % $324.00 -12.58 % $337.03 -5.63% 132

2007 35 29.63 % $442,663 6.78 % $428,000 7.27 % $370.62 5.62 % $357.14 1.73% 197

2006 27 -6.90 % $414,556 -13.39 % $399,000 -10.34 % $350.91 -7.39 % $351.07 -2.48% 1151001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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South Boston

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

South End2008 Fourth Quarter

Sales Summary

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South End

Five Year Price Index

(Appreciation Rate)

L I N K

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South End

Quarterly Sales Summary

Fourth Quarter 2008

2005 145 -16.67 % $600,854 5.34 % $549,000 14.14 % $590.47 5.66 % $589.71 5.68% 56

2006 154 6.21 % $542,848 -9.65 % $467,500 -14.85 % $545.78 -7.57 % $547.81 -7.11% 124

2007 152 -1.30 % $695,164 28.06 % $547,500 17.11 % $629.19 15.28 % $627.44 14.54% 68

2008 109 -28.29 % $580,083 -16.55 % $510,000 -6.85 % $582.04 -7.49 % $611.15 -2.60% 99

2004 174 -23.68 % $570,368 23.72 % $481,000 14.66 % $558.86 15.34 % $558.04 13.47% 42

2002 179 21.77 % $480,521 19.99 % $425,000 14.50 % $458.85 15.20 % $457.41 13.27% 28

2003 228 27.37 % $461,018 -4.06 % $419,500 -1.29 % $484.53 5.60 % $491.80 7.52% 57

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

South End

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 47 -17.54 % $633,453 -13.43 % $640,000 2.07 % $585.89 -3.88 % $619.05 1.56 % 91

2007 57 0.00 % $731,717 13.81 % $627,000 4.50 % $609.56 8.35 % $609.52 6.11 % 65

2006 57 18.75 % $642,903 0.22 % $600,000 0.08 % $562.58 -5.52 % $574.40 -4.28 % 112Two

Beds

2008 16 -15.79 % $863,750 -38.52 % $831,000 -28.05 % $527.08 -20.56 % $517.25 -23.75 % 127

2007 19 90.00 % $1,404,884 18.81 % $1,155,000 -6.48 % $663.46 13.55 % $678.39 11.04 % 85

2006 10 -28.57 % $1,182,500 10.47 % $1,235,000 8.57 % $584.30 2.39 % $610.96 5.53 % 161ThreePlus

Beds

2008 3 -57.14 % $255,000 -57.91 % $275,000 -21.20 % $590.42 -11.20 % $567.16 -7.92 % 145

2007 7 0.00 % $605,843 128.34 % $349,000 32.20 % $664.89 13.64 % $615.97 9.51 % 20

2006 7 -36.36 % $265,321 1.66 % $264,000 -2.22 % $585.06 -6.96 % $562.50 -5.78 % 211

Studio

2008 39 -37.10 % $425,907 -9.89 % $429,000 -4.35 % $602.31 -5.50 % $629.23 -2.47 % 87

2007 62 26.53 % $472,652 28.11 % $448,500 24.58 % $637.40 17.77 % $645.14 17.94 % 67

2006 49 19.51 % $368,939 -18.10 % $360,000 -18.18 % $541.24 -6.40 % $547.03 -6.18 % 85OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

South End

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 7 -61.11 % $966,286 -21.35 % $959,000 -24.93 % $592.43 -19.48 % $581.21 -26.32% 55

2007 18 157.14 % $1,228,656 17.29 % $1,277,500 32.38 % $735.70 13.06 % $788.88 37.34% 88

2006 7 -30.00 % $1,047,571 9.33 % $965,000 5.46 % $650.73 12.58 % $574.40 0.26% 971501-1800

2008 4 -63.64 % $1,214,550 -3.50 % $1,212,850 5.01 % $605.56 -2.87 % $603.49 -4.02% 275

2007 11 37.50 % $1,258,618 5.15 % $1,155,000 -5.13 % $623.46 7.72 % $628.74 3.75% 56

2006 8 -11.11 % $1,196,921 -3.90 % $1,217,500 -1.81 % $578.78 -3.53 % $606.02 0.05% 1421800-2400

2008 2 0.00 % $1,382,500 -56.96 % $1,382,500 -56.96 % $541.88 -23.65 % $541.88 -23.65% 71

2007 2 0.00 % $3,212,500 114.52 % $3,212,500 114.52 % $709.74 57.40 % $709.74 57.40% 211

2006 2 -33.33 % $1,497,500 3.22 % $1,497,500 6.96 % $450.92 -10.08 % $450.92 -6.40% 450Over2400

2008 29 -27.50 % $368,810 -1.76 % $389,000 2.10 % $609.00 -5.64 % $652.17 0.36% 82

2007 40 8.11 % $375,413 19.33 % $381,000 17.23 % $645.40 12.55 % $649.84 15.53% 43

2006 37 -13.95 % $314,601 -5.94 % $325,000 -2.69 % $573.46 -7.53 % $562.50 -7.67% 104700 or

Less

2008 38 -24.00 % $474,134 -9.30 % $476,188 -5.61 % $559.78 -9.33 % $559.33 -9.23% 57

2007 50 4.17 % $522,740 20.24 % $504,500 15.98 % $617.37 17.23 % $616.22 13.39% 68

2006 48 50.00 % $434,757 -11.54 % $435,000 -11.50 % $526.62 -9.18 % $543.46 -8.54% 103701-

1000

2008 28 -9.68 % $705,688 -1.13 % $695,000 -7.33 % $581.24 3.36 % $611.15 2.89% 151

2007 31 -27.91 % $713,735 15.60 % $750,000 21.56 % $562.35 7.21 % $593.96 13.60% 77

2006 43 7.50 % $617,436 -11.68 % $617,000 -10.47 % $524.54 -8.72 % $522.85 -5.80% 1561001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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South End

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

Waterfront2008 Fourth Quarter

Sales Summary

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Waterfront

Five Year Price Index

(Appreciation Rate)

L I N K

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Waterfront

Quarterly Sales Summary

Fourth Quarter 2008

2005 33 -5.71 % $783,244 22.26 % $645,000 13.66 % $622.56 13.13 % $560.72 1.72% 85

2006 122 269.70 % $980,662 25.21 % $836,000 29.61 % $734.39 17.96 % $745.08 32.88% 69

2007 40 -67.21 % $936,945 -4.46 % $655,000 -21.65 % $694.81 -5.39 % $651.43 -12.57% 103

2008 32 -20.00 % $875,514 -6.56 % $651,250 -0.57 % $676.89 -2.58 % $646.22 -0.80% 173

2004 35 -2.78 % $640,657 5.47 % $567,500 0.44 % $550.29 4.65 % $551.26 3.11% 78

2002 40 100.00 % $662,950 1.42 % $530,000 7.72 % $533.72 -1.49 % $474.14 -5.91% 79

2003 36 -10.00 % $607,432 -8.37 % $565,000 6.60 % $525.84 -1.48 % $534.62 12.76% 130

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

Waterfront

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 12 0.00 % $1,168,246 -0.01 % $1,132,750 32.49 % $746.21 -7.31 % $712.99 1.86 % 249

2007 12 -82.86 % $1,168,333 6.52 % $855,000 -21.38 % $805.08 8.95 % $699.99 -0.20 % 125

2006 70 250.00 % $1,096,829 41.65 % $1,087,500 80.50 % $738.96 18.76 % $701.36 25.08 % 74Two

Beds

2008 1 -85.71 % $3,400,000 71.66 % $3,400,000 138.60 % $1,125.83 34.25 % $1,125.83 33.05 % 178

2007 7 16.67 % $1,980,714 1.24 % $1,425,000 -11.27 % $838.61 20.80 % $846.20 31.56 % 105

2006 6 500.00 % $1,956,500 -2.18 % $1,606,000 -19.70 % $694.21 -20.44 % $643.22 -26.29 % 119ThreePlus

Beds

2008 0 -100.00

2007 1 -80.00 % $380,000 11.76 % $380,000 10.14 % $892.02 11.21 % $892.02 8.85 % 1

2006 5 150.00 % $340,000 -39.56 % $345,000 -38.67 % $802.10 12.98 % $819.48 15.42 % 1

Studio

2008 12 -29.41 % $609,208 24.25 % $526,500 37.86 % $617.25 13.02 % $549.41 15.08 % 36

2007 17 -56.41 % $490,312 -30.22 % $381,920 -47.32 % $546.15 -24.89 % $477.40 -36.40 % 89

2006 39 680.00 % $702,636 12.65 % $725,000 0.00 % $727.13 24.09 % $750.59 25.03 % 62OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

Waterfront

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 7 16.67 % $1,251,564 -11.50 % $1,180,500 -10.06 % $740.63 -10.99 % $702.68 -7.11% 447

2007 6 -78.57 % $1,414,167 10.07 % $1,312,500 2.94 % $832.05 2.23 % $756.43 -6.35% 108

2006 28 833.33 % $1,284,804 44.98 % $1,275,000 59.52 % $813.90 55.38 % $807.68 71.58% 351501-1800

2008 2 0.00 % $1,637,500 2.50 % $1,637,500 2.50 % $858.72 3.02 % $858.72 3.02% 106

2007 2 -81.82 % $1,597,500 17.22 % $1,597,500 18.33 % $833.58 15.51 % $833.58 15.34% 88

2006 11 450.00 % $1,362,818 -39.43 % $1,350,000 -40.00 % $721.67 -35.01 % $722.70 -34.92% 741800-2400

2008 2 -33.33 % $2,068,500 -29.08 % $2,068,500 -23.25 % $676.54 -31.38 % $676.54 -31.54% 174

2007 3 -25.00 % $2,916,667 8.02 % $2,695,000 -7.47 % $985.95 12.62 % $988.27 5.84% 95

2006 4 $2,700,000 $2,912,500 $875.49 $933.71 19Over2400

2008 1 -50.00 % $450,000 38.04 % $450,000 38.04 % $755.03 1.89 % $755.03 1.89%

2007 2 -77.78 % $326,000 -15.71 % $326,000 -5.51 % $741.02 -1.80 % $741.02 -0.96% 10

2006 9 200.00 % $386,778 2.68 % $345,000 -9.21 % $754.63 24.96 % $748.22 24.64% 16700 or

Less

2008 8 -42.86 % $509,375 24.93 % $486,500 27.87 % $578.57 18.47 % $526.70 15.39% 54

2007 14 -26.32 % $407,736 -24.37 % $380,460 -37.53 % $488.36 -24.22 % $456.43 -38.18% 81

2006 19 171.43 % $539,147 -4.31 % $609,000 15.12 % $644.45 -1.47 % $738.37 18.40% 62701-

1000

2008 7 -30.00 % $779,786 -20.51 % $690,000 -14.55 % $662.49 -14.75 % $567.90 -18.87% 52

2007 10 -80.00 % $981,000 12.49 % $807,500 1.57 % $777.14 9.16 % $699.99 4.60% 157

2006 50 233.33 % $872,090 22.00 % $795,000 23.26 % $711.91 25.72 % $669.23 26.36% 1031001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Waterfront

Inventory

Fourth Quarter 2008

L I N K

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140 Newbury Street

Boston, MA 02116

617-267-5465

West End2008 Fourth Quarter

Sales Summary

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West End

Five Year Price Index

(Appreciation Rate)

L I N K

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West End

Quarterly Sales Summary

Fourth Quarter 2008

2005 20 11.11 % $362,650 -9.46 % $297,250 -24.65 % $446.57 8.79 % $447.76 10.13% 49

2006 6 -70.00 % $449,083 23.83 % $417,500 40.45 % $427.04 -4.37 % $431.00 -3.74% 53

2007 9 50.00 % $352,944 -21.41 % $350,000 -16.17 % $404.52 -5.27 % $405.35 -5.95% 75

2008 9 0.00 % $385,167 9.13 % $375,000 7.14 % $401.31 -0.79 % $417.13 2.91% 62

2004 18 -18.18 % $400,554 18.54 % $394,500 22.33 % $410.48 15.03 % $406.59 15.77% 37

2002 15 36.36 % $331,820 -8.51 % $300,000 -15.37 % $438.27 18.21 % $379.34 6.18% 32

2003 22 46.67 % $337,898 1.83 % $322,500 7.50 % $356.85 -18.58 % $351.22 -7.41% 89

Year Sales %+- Avg Selling %+- Med Selling %+- Avg Psf %+- Med Psf %+- Avg DOM

L I N K

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Sq Feet

West End

Sales Comparison by Number of Bedrooms

Fourth Quarter 2008

L I N K

2008 4 300.00 % $470,750 -11.84 % $431,000 -19.29 % $355.45 -12.34 % $345.84 -14.70 % 74

2007 1 -50.00 % $534,000 27.90 % $534,000 27.90 % $405.47 18.48 % $405.47 18.48 % 1

2006 2 0.00 % $417,500 -28.63 % $417,500 -28.63 % $342.22 -21.76 % $342.22 -21.76 % 159Two

Beds

2008 0

2007 0 -100.00

2006 1 0.00 % $745,000 -14.27 % $745,000 -14.27 % $447.99 -21.90 % $447.99 -21.90 % 27ThreePlus

Beds

2008 2 -33.33 % $287,500 6.88 % $287,500 6.48 % $452.06 7.06 % $452.06 6.65 % 29

2007 3 200.00 % $269,000 -5.11 % $270,000 -4.76 % $422.24 -19.28 % $423.86 -18.97 % 91

2006 1 -87.50 % $283,500 -1.69 % $283,500 -1.56 % $523.06 15.54 % $523.06 15.69 % 36

Studio

2008 3 -40.00 % $336,167 -8.43 % $350,000 -3.18 % $428.64 8.87 % $423.73 10.30 %

2007 5 150.00 % $367,100 -11.65 % $361,500 -13.00 % $393.71 -13.16 % $384.17 -15.27 % 87

2006 2 -77.78 % $415,500 28.64 % $415,500 24.03 % $453.38 5.67 % $453.38 4.64 % 23OneBed

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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Sq Feet

West End

Sales Comparison by Square Footage

Fourth Quarter 2008

L I N K

2008 0

2007 0 -100.00 %

2006 1 0.00 % $745,000 -14.27 % $745,000 -14.27 % $447.99 -21.90 % $447.99 -21.90% 271501-1800

2008 0

2007 0

2006 01800-2400

2008 0

2007 0

2006 0Over2400

2008 3 0.00 % $286,167 6.38 % $285,000 5.56 % $449.73 6.51 % $446.71 5.39% 29

2007 3 200.00 % $269,000 -5.11 % $270,000 -4.76 % $422.24 -19.28 % $423.86 -18.97% 91

2006 1 -91.67 % $283,500 -2.30 % $283,500 -1.56 % $523.06 13.38 % $523.06 15.69% 36700 or

Less

2008 2 -60.00 % $362,500 -1.25 % $362,500 0.28 % $420.43 6.79 % $420.43 9.44%

2007 5 150.00 % $367,100 -11.65 % $361,500 -13.00 % $393.71 -13.16 % $384.17 -15.27% 87

2006 2 -60.00 % $415,500 19.95 % $415,500 11.69 % $453.38 16.43 % $453.38 9.51% 23701-

1000

2008 4 300.00 % $470,750 -11.84 % $431,000 -19.29 % $355.45 -12.34 % $345.84 -14.70% 74

2007 1 -50.00 % $534,000 27.90 % $534,000 27.90 % $405.47 18.48 % $405.47 18.48% 1

2006 2 0.00 % $417,500 -28.63 % $417,500 -28.63 % $342.22 -21.76 % $342.22 -21.76% 1591001-1500

Year Sales %+- Avg Selling %+- Med Selling %+- Avg PSF %+- Med PSF %+- Avg DOM

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West End

Inventory

Fourth Quarter 2008

L I N K


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