As predicted

Last week I wrote about a new listing that was going to come on the market, 26 Marshall Street, in Havemeyer, and ventured my opinion that at $1.250 million, it was priced very well and would sell quickly. It did, and is now reported pending after just five days. The speed with which it was snapped up suggests a price war, and a winning bid from a builder, who needed no inspection and no mortgage contingency. Good news for the owners, sad for new home buyers.

But that’s what’s been happening in Havemeyer lately, as this post-war development transitions from small, but well-built Capes, to a $2.8 - $3.5 neighborhood. Owners of those original homes should be selecting a financial advisor and packing their bags.