Far be it from humble us to extrapolate wider market trends from a single sale, but we think this trade of Unit 1 at 221 Beacon Street in Back Bay proves incontrovertibly and with finality that the Boston housing market is cooling. Here's the story: The 2-BR, 2.5-BA duplex hit the sales market in early March for $2,300,000. Its price came down $100K two months later, and then went to contract (and, in between that, there appears to have been a sale pending for the unit for about 72 hours, before it came back on the market at $2.2M again). A deal for the 2,396-square-foot spread, the listing photos for which include a Benz in the sole garaged parking space, closed last Friday. In the end, Unit 1 at 221 Beacon went for $1,975,000. For those playing along at home, that is a full $325K off the original asking price.
· 7 Things to Watch For in Greater Boston Real Estate This Fall [Curbed Boston]
· Our PriceChopper archive [Curbed Boston]