Archive for September 16th, 2008

Some East Boston Condos Sell Faster than Others

During the last 30 days, East Boston has seen 17 condominiums either sell or go under agreement. There is a strong demand for East Boston condos, and prices have remained stable.

Some condos sell faster than others, usually because of certain traits considered desirable among buyers: A strong, solid condo association with accurate, up to date financial records and regularly recorded meeting minutes; and a high percentage of owner occupants (owner occupancy is a trait that will most likely contribute to condo units in such buildings maintaining their value and potential for resale).

Other characteristics sought after by condo buyers: Proximity to the T, views, and parking. Properties near one of our 5 T stations sell much more quickly than those further away. Properties with views, especially of Boston, sell much faster. And while most EB properties do not have parking (and most buyers do not expect to find parking in East Boston), when a condo or house has parking, it tends to sell much faster than properties that do not.

Proximity to services and stores in a village setting is also important. Condos within a few blocks of retail stores, grocery shops, restaurants and markets, dry cleaners, and ATM machines create a vibrant urban setting and tend to sell faster than more remotely located units. Nearby green space such as community gardens, bike paths and park areas are also major pluses. Convenient urban living with nearby amenities is what quickly sells our East Boston condominiums.

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.