South Boston Update - February 2012

With February 2012 in the books it is time to look back and review. At the end of February 2012, there were 130 active condos on the market with the average asking price of $468,295 compared to 188 homes on the market with the average asking price of $412,481 in 2011. This is a great sign for South Boston seller’s, but show of a market tightening up for buyers looking for that steal of a deal in Southie. We saw 19 homes condos sell in South Boston for an average sales price of $458,218 which was 97.83% of the seller’s asking price. The amount of homes sold is down by 5 units in 2012 when compared to the 24 homes sold in 2011 for an average sales price of $352,000 which was 95.95% of the seller’s asking price.

While the amount of closed units were down, there were many positive signs for the homeowner looking to sell their South Boston Real Estate. Both the average sales price and the average percentage of the seller’s asking price is up! We also saw a surge of nearly 32% in the number of homes that have gone under agreement for February! In February of 2012 we saw 44 South Boston Condos go under agreement compared to 30 in 2012.

The South Boston Real Estate market continues to be very tight with 4.19 months’ worth of inventory currently on the market.  This low number is signaling that this is a seller’s market.

Should you be thinking about buying or selling a home in South Boston then give Jeffrey Chubb, owner of RE/MAX SELECT a call at 617-480-2600. You can also contact him by email at Jeff@MoveWithChubb.com. He is ranked the #1 RE/MAX Agent in Boston and one of the top RE/MAX Agents in all of New England. Rest assured that you are in good hands when working with Jeff when buying or selling a South Boston home.

CLICK HERE TO VIEW TO VIEW ALL SOUTH BOSTON HOMES CURRENTLY FOR SALE

CLICK HERE TO GET A MARKET ANALYSIS OF YOUR SOUTH BOSTON HOME