Archive for April 15th, 2009

Two-Families Continue to Sell in East Boston

Between January 1 and March 31, 2009, 15 two-family homes sold in East Boston. Seven of these properties were short sales, three were bank owned, and five were regular sales—properties whose sellers are not banks and whose sellers owe less on their properties than their sale price.

The cheapest two-family to sell was an 1,848 square foot property located on Bennington Street between Central and Day Squares that sold for $144,200. The most expensive standard two-family was a 2,900 square foot property with four garages at 28 Orient Avenue that sold for $370,000. Another property, a former rectory with a brick exterior and an attached townhouse style unit sold as a two-family for $475,000. This property had over 4,000 square feet.

Most small two-families in Jeffries Point, on Eagle Hill, or in the Dom Savio area are selling between $180,000 and $230,000. Larger properties, with over 2,500 square feet and with parking, in the Orient Heights area, often sell between $300,000 and $400,000. It is interesting to note that the most expensive two-families sold are often neither bank owned nor short sales…just regular sellers obtaining market value for their 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.

Email Tony with your questions or comments.