Health & Fitness
South End Real Estate Activity Jumps During Summer
OK, so it's after Labor Day. Back at the desk again.... The South End real estate market is really surprisingly active. I know you don't believe me, but take a look....
Summer is usually one of those times when the real estate market in the South End, as well as elsewhere in Boston, takes a breather. Interestingly, despite all the gyrations in the national economy, the real estate market in the South End has prospered(as well as most of the downtown neighborhoods). As I have opined in these pages before, a good stable real estate market may very well be a better place to stash at least a portion of your portfolio during nutty times like this.
The prime factor that I look at, the number of units going under agreement, has gone uphill over the course of the summer at a time when there is usually a very pronouced slump.
Last year, 45 condominiums went under agreement in the South End in July, and 35 in August. This year, 52 went under agreement in July, and 58 in August. Both figures for this year actually are higher than each of the past three years- significantly so for August. Take a look at the graph to the right (you can enlarge it).
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Other factors are very positive as well. Moderate supply (good choice but not a glut), stable median prices, high rates of absorption. Click here to see all the charts and graphs which are extremely exciting even without 3-D and special effects.
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