South Boston has turned into Boston’s hottest neighborhood this summer with condo prices soaring and multiple offers on most properties. To give you an example of how hot the market is just check out the stats on 2 bed condos from 2012-2013:
- Average Price up 12%
- Average Price per square foot up 17.5%
- Days on Market down 61%
These are not numbers to sneeze at. They explain why we’ve recently seen properties going for up to 50,000 over asking in a neighborhood that has traditionally been friendly to first time home buyers. So what can you do to make your offer stand out? Remember be flexible and if you can, bring as much cash to the table as possible.