South End
Unlike most of the U.S., the South End has not had overbuilding that most parts of the country have had since the land and availability to replace historic structures with bigger buildings is very limited. Inventory continues to be limited.
Compared to 2009 properties are:
- Selling for slightly more: Median price is up 2.86% to $540,000. Median price per square foot up 1.97% to $601.91
- Spending less time on the market before they go under agreement: Down to 88 days from 91.
- Available inventory continues to be at historic lows down…down 34%
- All this despite sales being down 7.7% to 549 units.
While overall number of sales are down, it’s obvious that those that did sell sold for a bit more and in less time than last year. Seller’s who are “testing the market” with homes of lesser quality are not selling.
For you numbers fans, the full report from LINK (Boston’s own multiple listing system) is available. Please email me and I will get it to you.
If you (or a friend) are looking to buy or sell, please contact me. I welcome the opportunity to put my market expertise to work for you.
