After researching the available market data this is what I found:
46 Condominiums have sold in the South End from $142,000 to $1,975,000.00.
The average time on the market for these 15 homes was less than 7 days – no this is not a typo.
The average list price of these 46 homes was $708,116 and what was most amazing was the average sales price was $697,279 – which is 98.44% of the list price, some sold for above asking. With an average square foot price of $643.00.
Now I don’t know about you, but I find this information encouraging for all you who are currently selling. And I find it helpful for all those who are thinking about buying. This data indicates a few things. It signifies that the market South End market is strong – (even in July) – it also suggests that homes priced correctly in this price range sell very quickly and sometimes above asking. So for serious buyers there is no time to waste.
In addition, with mortgage rates being at there all time lowest this allows the buyer more home for less money.
In spite of the summer heat – this could be the time – for those who are buying or selling – to make the move!
Call me or email me – I will be happy to assist you any way that I can.
Jessica Quirk – Jessica@condodomain.com