East Boston Condo Market Remains Vibrant and Healthy

Beginning January 1, 2010 to the present, 39 condominiums in East Boston have sold or gone under agreement. There is a healthy and vibrant community of buyers looking to live in East Boston, and many of these buyers choose to purchase newer condos over older single-family or multi-family properties, which often suffer from poor room layouts, lots of lead paint, deteriorating exteriors, electrical capacity and wiring in need of updates, and outdated kitchens, baths, walls, and ceilings.

Most condo buyers have been attracted to newly-constructed or recently renovated condominiums which offer the amenities sought after in today’s market: normal room sizes and layouts, newer kitchens and bathrooms, laundry in units, additional storage space, central air conditioning, and sometimes, parking. Popular condominiums have a very high owner occupancy rate and a solid set of financial documentation, which generally includes a budget, a list of expenses, and a reserve. Of the units sold or under agreement, the average list price was $219,722. The average sale price was $194,271. The average marketing time was 97 days, and the average price per square foot was $218. Many East Boston condo buyers choose to live here because of our proximity to the T and downtown Boston.

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.

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