Unit 3 at the new 8 Beacon Street off Inman Square was once one of 20 Somerville sales listings set to close nearly simultaneously. Well, the 1,425-square-foot, 2-BR, 2.5-BA spread has closed and, in its closing, it seems to predict the future of the city's condo market.
First of all, the condo closed for $11K more than its asking price of $895,000. Second, the listing from Stephen Bremis touted its proximity to the "Red Line less than a mile away and 10 bus routes within a half mile." 'Tis no secret the influence transit is about to exert (indeed is already exerting) on the Somerville housing market via the coming Green Line extension. So expect a lot more listings—and deals—like this one. The future is now.
· Somerville's 20 Most Expensive Listings Have Found Buyers [Curbed Boston]
· Green Line Now Part of Somerville Sales Pitches [Curbed Boston]
· Green Line Extension Moves Somerville Condo Extra Fast [Curbed Boston]
· Our Somerville Gentrification Watch archive [Curbed Boston]