In December 2013, the median price of a single-family home in South Boston, Massachusetts skyrocketed 83.7 percent compared to December 2012, but median prices were flat for the year, according to data compiled by the Greater Boston Association of Realtors.
The median price for a single-family home in South Boston in December 2013 was $518,000, a significant increase from $282,000 the same month in 2012; however, from January through December 2013, the median price decreased compared to 2012. Throughout the year, the median price stood at $516,500, less than one percent decrease below the median price of $517,250 for single-family homes in 2012.
Single-family home sales in South Boston were flat in December with three homes sold in 2012 and 2013. Throughout 2013, single-family homes sales increased 31.6 percent compared to 2012. There were 38 single-family home sales in 2012 and 50 sales during 2013.
The median price of a condominium for December increased 27.6 percent from $380,000 in 2012 to $485,000 in December 2013. Throughout 2013, the median condo price increased 11 percent from $407,000 in 2012 to $485,000.
Condo sales in South Boston also were flat for December. There were 43 condos sold for the month in both 2012 and 2013. Annual condo sales increased 3.5 percent in 2013 on 564 sales, a slight increase from 545 sales throughout 2012.
The inventory of condominiums for sale in South Boston increased 42.6 percent in December 2013. There were 77 condos on the market compared to 54 in December 2012.