In early February, we told you about Unit 3 at 315 Elm Street in Inman Square, the only home in Cambridge and Somerville then asking under $250,000 (things haven't improved much buyer-wise since). The 1-BR, 1-BA, 383-square-footer, priced at $239K, spent barely a week on the open market as bids poured in.
Unit 3 closed in late April for $262,000. So, in conclusion: The least expensive home in two cities with a combined population of 183,000 received 10 bids in less than a week and sold for $23,000 more than its sole listing price. Have a good weekend.
· The Only Cambridge/Somerville Home Under $250K? Gone. [Curbed Boston]
· Only Home in Somerville/Cambridge Asking Under $250K [Curbed Boston]
· Our What Housing Crisis? archive [Curbed Boston]