East Boston Triple-Deckers See Increase in Regular Sales

During the past year, many bank owned and short sale three-families have sold in the high $100,000s and low $200,000s, prices previously unheard of in the last decade.  Most of these properties have been unusually small (3-4-4 rooms) and in terrible condition, usually needing complete renovations. Only recently have we seen the reemergence of “regular” sales of three-family homes that are not bank owned or short sales.  These larger three-family properties (4-5-5 rooms), usually in decent but often outdated condition, are usually selling in the low to mid $300,000 range.  Better, more renovated properties, as well as buildings with views and houses with big yards or driveways, should start selling for more in the next few months and year.

809 Saratoga Street, an older and grand Victorian style home sold for $338,500.  236 Havre Street, an attached 4-5-5 sold for $305,000.  26 Bremen Street, a brick triple-decker, sold for $335,000.  67 Webster Street, a renovated 3-4-4 with views sold for $350,000.  227 Webster Street, a Victorian with stunning harbor views and in need of a full renovation sold for $448,500.  Currently, 228 Havre Street (asking price $340,000), 236 Maverick Street (asking price $329,000), 96 Trenton Street (asking price $369,900), 117 Webster Street (asking price $395,000) and 250 Webster Street (asking price $399,000) are all under agreement, most within just a few weeks after having been listed.

During the next year we should see more “regular” sales of standard size triple-deckers in average condition selling between $320,000 and $350,000.  Larger or more renovated properties, or buildings in the waterfront neighborhood or with great views, will probably start to sell for more.  The general East Boston triple-decker market will probably remain in the mid $300,000 range or even approach the low $400,000 range during the next year if short sales and foreclosures continue to decline.

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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