Way back in the middle of last week, Unit 3 at 315 Elm Street in Inman Square dropped on the sales market for a cool $239,000. That made it the only home, condo or single-family, in the cities of Somerville and Cambridge asking under a quarter of a million dollars. In fact, it became one of only two in both cities asking under $300,000. Well, Unit 3 has found a buyer.
The 1-BR, 1-BA, 383-square-foot condo received 10 offers in its near-week on the market, according to a source. The winning bidder will close in late April, at which time we should know the final price. For now, know this: According to our source, the cheapest home in Cambridge and Somerville is going for above its asking price. Such is the way in the Hub housing market nowadays.
· Listing: 315 Elm Street, #3 [Coldwell Banker]
· The Only Condo in Cambridge and Somerville Under $250K [Curbed Boston]
· The Only Other Cambridge/Somerville Listing Under $300K [Curbed Boston]
· Over the Top! Offers Above Asking Abound in the Hub [Curbed Boston]