Health & Fitness
Sales of Relatively Inexpensive South End Condos Show Weakness Compared to 2010
"How's the real estate market," you ask? Thank you for asking. It's not bad, but as usual, there's a little nuance to the answer. Also, I've included a couple of nice graphs for you to look at.
The South End is one of the healthiest neighborhoods in Boston, but our neighborhood, like the rest, is a bit off in terms of real estate activity for the first half of the year (see the chart at the right).
Although, right at this point, we are ahead of where we were last year (If you look at 30 day periods since mid May...have a look at this chart), the cumulative figure is not so kind. And guess where the difference lies? It's not in the $1m and above category (177 vs 185 sales last year, pretty much flat) but the up-to-$500k category, which is exactly the niche that affected most of the homebuyers for whom the tax credit was an impetus to buy.
After the tax credit ended last spring, home sales dropped off the map for a bit. The number of sales up to $500,000 in the South End for the first six months of this year was 87 as opposed to 119 last year, a 27% drop. That's ouchie. Not so much that the market stinks now, because it doesn't (and stop comparing it to 2004, OK?), but it was a hair inflated in terms of activity last year.
Find out what's happening in South Endwith free, real-time updates from Patch.
For the evolving details, please look at my South End Market Report, and leave a comment or get in touch with any real estate questions.