Charlestown housing market helps you avoid the Boston bidding wars
When you begin your search for real estate in Boston, MA, consider the available properties in the Charlestown community. Boston's historic Freedom Trail ends in the neighborhood, and it's also home to the famous Bunker Hill Monument and the USS Constitution.
Charlestown began as an independent community just outside of Boston. However, the neighborhood was severely damaged by fire following the Battle of Bunker Hill in 1775, and had to be rebuilt after the Revolution in the 19th century, according to Charlestownonline.net.
Since the community became a part of the greater Boston area, it has grown in affluence and become an integral part of the blue-collar culture the city is most known for today. With home sales in the Hub increasing in the first quarter of 2012, new homebuyers may look to Charlestown for the property of their dreams.
According to Tim Warren, chief executive of The Warren Group, home sales and price numbers for April show positive and sustained growth in the marketplace. What's more, Warren told The Boston Globe, he believes numbers will continue to rise and values will see major improvements sooner rather than later.
Single-family home sales surged 22 percent in April 2012 compared to a year ago, totaling 3,505 transaction across the Bay State. According to the Warren Group, year-over-year sales are up 18 percent.
In Charlestown, numbers weren't as favorable in the first quarter of 2012, but with the overall market expected to mend further, purchasing a home in the community may be worthwhile. In the first quarter, there were 38 sales in Charlestown, which is down 19.15 percent on a year-over-year basis, with the average selling price at $483,583, according to Link, Inc. data.
If you want to move to Boston, but find the bidding wars to be too intense for you, consider the homes for sale in Charlestown for their affordability and the low competition in the area. However, you will struggle to find a studio or one-bedroom condo in the area, as there have been no sales in that housing category in the past three years, according to Link, Inc.
Charlestown is situated just over 2 miles from downtown Boston, and residents can easily walk or drive into the city. When you want to live in the Hub, but don't want to compete with other buyers for property downtown, consider Charlestown for its location and low-key market.