In 2008, as recorded by our Multiple Listing Service, 104 condos were sold in East Boston. The average selling price was $230,748 and the average days on market (DOM) was 138 days. The average price per square foot was $228.
These figures differ from 2007, when 142 condos were sold. The average days on market was similar at 137 days, but the average price for the previous year was $256,844, and the average price per square foot in 2007 was $277. From 2007 to 2008, there was a decrease in value per square foot of approximately 18%.
One astonishing difference between 2007 and 2008 in condominium sales is that in 2007 almost all of the condos were brand new and none were bank owned. In 2008, 22 of the 104 condos (more than 20%) were bank owned properties.
Please check back as we continue to update you on East Boston real estate happenings. To see all our listings, or to search MLS properties, head to the Tony’s Realty Website.
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