In case you were wondering, it appears that the South End market, while quiet, is chugging along quite nicely.
There are currently 223 condominiums on the market, today. There are 142 condos under agreement.
During the month of March, 49 condominiums were sold (“closed”). During the month of April, 30 condominiums were sold (“closed”). However, it’s too soon to close the books on April, since many listing agents with closings in April have not updated MLSPIN with the information. (For example, I had a closing yesterday, but the other agent hasn’t changed the status from “UAG” to “SLD”.)
If we use April as the standard, though, then there is approximately 7.4 months of supply in the South End. (If we use March, there is only 4.55 months of supply.)
That level of supply seems about right for the South End. I thought that we’d see a huge jump in listings, this spring, but things seem to have calmed down. There is an adequate supply of properties available to buyers from which to choose (bad sentence). Sellers will have to be careful to make sure they don’t try any funny stuff. They need to price right or be willing to drop their price, quickly, if they expect to sell, by the end of May.
People are buying homes, in the city, this spring. If you’re considering a purchase, you’ll have a bit of competition for the best places. Keep your paperwork in order, focus on your priorities, sleep on any decision before making a purchase, and act quickly, but not in haste.