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.
Southie's single-family market bucked a larger Boston trend in December: Sales were down annually more than 26 percent. At the same time, however, the inventory of unsold homes on the market was down an astounding 57.9 percent (that does keep with a larger Boston trend). So what gives? It may be the higher prices turning would-be buyers off (the median sales price, for instance, was up 28 percent year-over-year to $512,000); and it might be those so-called phantom listings—sellers just toe-dipping to see what their houses might command and then pulling them from the market.
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In the condo market of the Hub's No. 1 neighborhood, it's a whole other story: Sales were up 25.6 percent annually in December even as prices jumped, too (the median was up 8.5 percent to $407,000). And! The supply of available Southie condos plunged to, theoretically, barely three months. Act now etc.
· A Boston Inventory Tale [Curbed Boston]
· The Curbed Cup Neighborhood of the Year: South Boston! [Curbed Boston]
· Our Neighborhood Watch archive [Curbed Boston]