East Boston 2008 Six Month Sales Report

The following six-month report compares January thru June 2008 East Boston property sales to January thru June 2007 sales using data derived from MLS.

In 2008, 64 condos sold in East Boston: the average sale price was $248,335; the average time on market (DOM) was 142 days. In 2007, 78 condos sold: the average DOM was 131 days; the average sale price was $266,142. The average 2008 condo sale price declined 6.7% from 2007.

In 2008, 21 single-family homes sold in East Boston: the average sale price was $229,245; the average DOM was 212 days. In 2007 there were only 14 single-family sales: the average sale price was $270,493; the average DOM was 137 days. The average single-family sale price for 2008 declined 15.2% from 2007.

In 2008, 18 two-family homes sold in East Boston: the average sale price was $240,289; the average DOM was 184 days. In 2007, 13 two-family homes sold with an average sale price of $335,823; the average DOM was 101 days. The average two-family sale price for 2008 declined 28.4% from 2007.

In 2008, 32 three-family homes sold in East Boston: the average sale price was $265,921; the average DOM was 175 days. In 2007, there were 31 three-family sales in East Boston: the average sale price was $427,297; the average DOM was 130 days. The average three-family sale price for 2008 declined 37.8% from 2007.

Overall, condominium and single-family homes have declined in price less than two and three-family homes. The East Boston multi family market has been hit hardest in the past year with reduced selling prices and much longer time periods on the market.

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.

Email Tony with your questions or comments.

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