East Boston Three-Family Sale Prices Rise

Over the last six months, 44 three-family homes have sold in East Boston, ranging from $100,000 for a total gut rehab Everett Street home to $480,000 for a 4,500 square foot unusually large East Eagle house in exceptionally good condition with four parking spaces. The average three-family sale price was $276,557. Many were bank owned and others were short sales. Non bank owned and short sale properties are beginning to sell in the low to mid $300,000 range. A few buildings that have been either exceptionally large, in impeccable condition, had spectacular harbor views, or lots of parking and land have sold for over $400,000.

Since November, the following three-families have sold for over $300,000: 236 Maverick Street sold in 11 days for $329,000; 228 Havre Street sold in 5 days for $347,000; and 194 Chelsea Street sold in 3 days for $320,000. At prices over $350,000, three families have usually been totally renovated: 96 Trenton Street sold for $356,000; 146 Trenton Street sold for $375,000; and this month 101 Chelsea Street, which was completely renovated, sold in 20 days for $373,000. In today’s market, a medium size triple-decker in very good condition should sell between $300,000 and $350,000. An extensively renovated, medium size three family will more likely sell between $350,000 and $390,000. This is about a 10% increase above last spring’s three-family home sale prices.

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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