This is Neighborhood Watch, a monthly breakdown from Curbed Boston about what's going on market-wise in key neighborhoods 'round the region (and, for our purposes here, towns and cities are neighborhoods, too—because they almost were, after all). All stats courtesy of William Raveis Real Estate. Next up, the Hub's No. 1 neighborhood.
Admittedly a small sample size to measure, still, the South End's single-family market clearly slowed in September compared to the same month last year. Sales, for instance, were down 20.6 percent, even as sales and listing prices dropped, too. The biggest drops, however, came in the inventory of unsold homes as well as the months of supply the market has of said unsold homes. These annual drops of almost 40 percent are jarring enough, until you look at the drop in average time it takes to sell a South End single-family: 32.3 percent, down to 84 days.
The neighborhood's condo market, too, saw steep drops in inventory (25.9 percent) and supply (31.9 percent), justifying our entirely non-hyperbolic headline. At the same time, sales were up by more than 12 percent and sales prices virtually the same as last September. In fact, the median price didn't budge at all, staying at $570,000.
· The Curbed Boston Cup Neighborhood of the Year: South End! [Curbed Boston]
· Our Neighborhood Watch archive [Curbed Boston]