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JP Tells Hub's Story: Ever-Lower Inventory, Shorter Waits

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, Jamaica Plain.

Like a neighbor's shoes on your ceiling, the inventory-is-super-low meme thumps across our keyboard at least once every couple of days. It's true and Jamaica Plain's single-family market illustrates that: The inventory of unsold homes was down 13.6 percent in December; and the average time it takes to sell a single-family in JP was down more than 46 percent. Not surprisingly, sales were up by a similar percentage.

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Inventory was down more than 36 percent annually in the JP condo market, even as both the average and the median asking prices were up more than 5 percent. And! The number of sales increased 25.1 percent as the average time it takes to sell a JP condo was down 26.2 percent, suggesting steady, unabated demand.
· A Boston Inventory Tale [Curbed Boston]
· Our Neighborhood Watch archive [Curbed Boston]