Two-Families Averaging One Sale Per Week in East Boston

In the last three months, 13 two-family homes have sold in East Boston. The average selling price was $222,246. These properties ranged from a small 3 and 4 room near Central Square, which sold for $144,200 to a large 5 and 6 room on Leyden Street in Orient Heights, which sold for $300,000. Another large, standard two-family sold in Orient Heights near the Winthrop border for $280,000.

Of the 13 properties sold, one was bank owned; another 10 were “short sales.” In a short sale, a buyer negotiates with a seller’s bank to purchase a property at a “market value” price—generally less than what the seller owes the bank. The most challenging part of a short sale is convincing a seller’s lender that a buyer’s offer is a “reasonable price and not lower than current market value.”

Only two properties that sold were neither bank owned nor short sales. Both were older two-families. One was on Saratoga Street near Dom Savio, which sold for $190,000. The other was on Emmons Street near Maverick Square, which sold for $210,000. Even in this economic downturn of lower selling prices, there seems to be a steady flow of buyers interested in East Boston properties. In the last three months, 1 two-family house sold per week on average.

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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