QUINCY - 2018
Quincy Market Insight: There is reason Quincy‘s three-family property owners can be excited as 2018 broke a few barriers and key market indicators. Quincy surpassed (well, technically met) the $1,000,000 mark for a three-family property, as the property at 54 Mary Street traded in December 2018 for $1,000,000.
Quincy also saw a property break the $300 per-square foot barrier, as the property located at 598 South Street, traded at a price of $313. With 2,160 square feet of living area, 598 South Street experienced the same reality that units with a small square footage often trade at record prices (19 Harvard Street, Everett (see Everett Market report) traded at $350 per-square-foot on 1,513 square-feet of living area).
What Is Noteworthy About Quincy Market: Quincy experienced a high volume on non-MLS listed sales – with exactly 50% of the sales being non-MLS listed. While those sales happened off market, the average sales price for off-market listing actually surpassed on the market sales. The average MLS sales came in at $751,619, while the entire-market captured an average sales price of $760,950. The 2nd highest three-family sale in Quincy was 159 Safford, that sold for $978,000 and greatly impacted the market-sales vs. off-market sales dynamic.
While Quincy Broke Barriers and Set Record Pricing…..Quincy had some of the highest density of properties that traded within a defined square-footage parameter. Of the 24 total sales analyzed, 19 of those sales fell in between $230-$280 per-square-foot. If you own three-family property in Quincy, you are more than likely to fall in this range – with a steep bell-curve and the median number laying around $255 per square foot (ironically, the average sales price comes in at $254, just a dollar off my back-of-the-napkin bell curve approach.)
