Eckington By The Numbers || Weekend 04.06.2024
Coplen, John via googlegroups.com
10:54 AM (4 minutes ago)
to Eckington, Alex
Happy Sunday!
As we dive into this week's activity in Eckington, we've observed a slight increase in active listings, rising from 35 to 32, accompanied by a total of 6 closings in the last 30 days. Given the onset of the spring market, such fluctuations are not uncommon. Kindly find the full list of data below.
Here's some intriguing Eckington data: I've analyzed the average sales prices from January 1st to April 6th of each year dating back to 2021 for 1-bedroom condos, 2-bedroom condos, and townhouses in Eckington. Much of what I expected has materialized. The condo market has remained relatively flat compared to 2021 values, influenced by several factors. During Covid, many individuals who rented these units shifted to remote work, leading to homeowners listing their properties due to difficulties in finding renters. Moreover, last year saw an increase in rates, causing hesitation among potential condo buyers, particularly first-time homebuyers. With rates stabilizing since December, we are witnessing a slow shift in condo purchases, positioning the condo market slightly better, in my opinion. On the other hand, townhouses in Eckington continue to appreciate in value. Notably, several high-end renovation flips have fetched favorable prices for our neighborhood, with even unrenovated units experiencing price hikes. This trend is partly attributable to Eckington's growing popularity, bolstered by the completion of amenities like the dog park, Alethia Tanner Park. Breweries, proximenty to Union Market, and the MBT, which have attracted newcomers to our neighborhood. Relative to other neighborhoods, our price per square foot offers better value and a more central location. It's just a matter of time for everyone to recognize what we, as Eckington residents, already know.
1/1 to 4/6 EACH YEAR BACK TO 2021
2024
1 Bed Condo Average: $345,000
2 Bed Condo Average: $490,000
Townhouse Average: $1,013,166
2023
1 Bed Condo Average: No One Bedroom Sales
2 Bed Condo Average: $615,328.57
Townhouse Average: $771,625.00
2022
1 Bed Condo Average: $407,500.00
2 Bed Condo Average: $694,718.18
Townhouse Average: $922,017.00
2021
1 Bed Condo Average: $344,150
2 Bed Condo Average: $529,952.11
Townhouse Average: $803,631.82
Here is a bit about rates. As of Friday, April 5 2024, the current average interest rate for a 30-year fixed mortgage is 7.01%. *We source this data from Mortgage News Daily.
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