I have posted at length about the lack of good inventory in all downtown neighborhoods but specifically in the South End, of the frequencey of multiple offers, and the general need for inventory to keep the positive market momentum going.
This newly marketed property offered for sale at $1,250K by listing agent Jamie Curtis went under agreement from the open house on Sunday. It is a beautifully designed parlor and street level duplex on Shawmut Avenue with great outdoor space. There were 30+ folks at the open house. Yes, it was a gorgeous weekend, which helped with the open house attendance…again no snow and bright sunshine, but the quality, condition and location of this property drove this sale.
So far this selling season, as well priced inventory comes on the market it sells immediately, so inventory doesn’t have a chance to build up. There are still only 99 condos for sale in the South End, an 18% decrease from last year at this time. 38 condos went under agreement in the past month in the South End with an average list price of $721K.
Everyone assumes that there will be a slow build up of inventory as we move into March. It always happens. We shall see..and I will keep you posted.