The 1-BR, 1-BA Unit 1 at 21 Prescott Street off Union Square hit the market way back on Thursday. Before Tuesday, a buyer had agreed to purchase it.
And why not? Inventory in Somerville and elsewhere in the Greater Boston region is cartoonishly low. Buy 'em when you see 'em. Plus, Unit 1 ain't bad: a private deck; in-unit laundry; extra storage in the basement; and, hey, in the bedroom "a shelf over the door which can be used as a display area or for additional storage." It was asking $240,000. Given the speed of its trade and the general trend in the Hub's housing market, it likely closed for well above that. Stay tuned.
· Boston, It's Time to Admit You Have an Inventory Problem [Curbed Boston]
· Springtime for Hub Over-Asks! Huge Offers Abound in May [Curbed Boston]
· Our What Housing Crisis? archive [Curbed Boston]