'Tis no secret that Hub homes sell fast. And 'tis no secret as well that Hub homes sell for over their asking prices (sometimes way the hell over). Sometimes, though, you get that perfect thunderclap of fast and over. The 2,298-square-foot townhouse at 422 Sumner Street in East Boston is one of those times.
You already knew that it took all of one day to find a buyer after it was listed in April. We now know how much that buyer paid—or shall we say how much over? (Yes, we'll say it.) The 3-BR, 3-BA with bones in the 1880s and 13-foot ceilings in some parts dropped for $849,900. It closed late last week for $900,000, according to listing agent Paul Campano of Keller Williams.
That's more than $50,000 over for those scoring at home and less than 24 hours on the market. "Sumner Street was an example of great architecture and a top-quality renovation," Campano told us in an email. "Buyers will pay for quality in East Boston... We just need more quality to sell. There are lofts coming on in Jeffries Point that are going to break through the current $500K ceiling that condos haven't broken in Eastie for many many years. Its the result of quality construction and an inspired architectural concept. If I were to look into my crystal ball, it wouldn't surprise me to see a million dollar [single-family] come on in Eastie before the summer is over."
· What Is the Boston Condo Market On? [Curbed Boston]
· More Proof 'Over-Ask' Is Hub's Real Estate Word of the Year [Curbed Boston]
· This Cambridge Home Received an Over-Ask Offer for the Ages [Curbed Boston]
· Fast Times in Jeffries Point: Eastie Deal Struck in Days [Curbed Boston]