Two of the most (frustratingly) enduring trends in the Greater Boston condo market are as follows: new listings trade fast and they often go for well over their asking prices. Unit 1 at 7 Garden Terrace in Cambridge's Harvard Square, one of two units in the building that early-20th-century architect H.F. Kellogg designed, hit one of the two trends. Last listed for $2,175,000, it closed recently for $2,387,000. That's a full $212,000 above the asking price. In fact, the 2,944-square-foot spread with shared garden and patio space had been listed for as little as $2,125,000 before the $50,000 price-bump. The 4-BR, 3.5-BA originally dropped a year ago today. Roughly one year to sell—that's an eternity in Hub condos nowadays.
· Behold, the Six-Room South End Spread That Took Days to Sell [Curbed Boston]
· Extreme Over-Asks in the Hub: Where They Happen the Most [Curbed Boston]
· Our Methuselahs archive [Curbed Boston]