Two East Boston Sales Defy Expectations

A few recent East Boston sales and contracts show a steady demand for high quality, updated, or restored housing in East Boston with buyers willing to pay above average prices for such properties. During the last 12 months, 79 three-families sold in East Boston with an average sale price of $258,000, but one property defied all statistics: 34 Cottage Street in Jeffries Point, a smaller, 2,700 square foot brick three-family recently renovated and in impeccable condition. 34 Cottage had new heating systems, walls, ceilings, kitchens, bathrooms, windows, decks, etc. In what is supposed to be a “poor time to sell houses,” this property sold for $425,000, almost $200,000 more than the average sale price for a three family during the last year.

Similarly, the market responded quickly to 144 Princeton Street, a beautifully restored and impeccably maintained Victorian single-family. With stunning restored original features such as hardwood floors, high ceilings, marble fireplaces, and bay windows, this property also had a beautiful new kitchen and bathroom. During the last 12 months, the average sale price for an East Boston single-family was $193,000, and the average marketing time was 141 days. This Princeton Street property was priced at $339,000 and went under agreement in just 8 days.

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.



April 2010
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