East Boston Two and Three-Family Prices Decline from 2007 to 2008

Last week we reported that the average selling price for East Boston condominiums fell 10% from 2007 to 2008, with an average selling price per square foot declining 18%. This week reports even more startling declines in selling prices, according to our MLS data, for two and three-family homes between 2007 and 2008.

In 2007, 28 two-families sold in East Boston. The average selling price was $347,316. In 2008, 48 two-families sold, but the average selling price was only $240,905. There was a 31% decline in the average selling price for a two-family property.

In 2007, 53 three-families sold, with an average selling price of $405,046. In 2008, 77 three-families sold, but the average selling price dropped to $267,775. This was almost a 33% decline in the average selling price for a three-family house in East Boston.

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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