A study on the housing inventory in the neighborhoods in and around Boston is showing an overall reduction in inventory and some increases in median and average sale prices. The big winners were the South End and Back Bay. Along with the South End’s 3.21 month supply and the Back Bay’s 5.77 month supply, each area has also enjoyed an increase in average sale price. The South End increased 5.4% to $642,969 and Back Bay jumped 7.6% to $932,316.
Source: MLS.
For more information on the Boston real estate market, go to Gibson Sotheby's International Realty, Boston's real estate experts.
Wednesday, October 1, 2008
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