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North End Condos Disappearing, Sellers Thinking Wishfully

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. First up this month, the North End condo market alone (there wasn't enough data to look at single-families, too).

Condo sales and sales prices were up annually in November in the North End. The median sales price was up, in fact, nearly 11 percent to $399,000. Not surprisingly, the inventory of unsold homes was way down (more than 35 percent) and condos were just flying off the shelves (average market time of 77 days vs. 158 last year). But! Check out the spread between the average list price ($472,834) and the actual closing prices ($43K-plus lower, at least). A lot of wishful thinking going on?
· Our Neighborhood Watch archive [Curbed Boston]