The real estate market in Jamaica Plain took a hit along with the rest of the economy during the recent record snowfall, but it is rebounding strong as the region enters into spring, according to local real estate agents.
Roger Rodriquez of Unlimited Sotheby’s International Realty on Centre Street said “sales took a big dip in the numbers” during the snowy February. He said that people were worried about just getting to work, experiencing road rage during two-hour commutes, and that “the last thing they wanted to do is go see an open house.”
“Everything was put off for a month,” said Rodriquez.
Colleen Scanlan of McCormack & Scanlan Real Estate on South Street concurred with Rodriquez, saying that the snowstorms “definitely put a damper on things.” She said that it was hard to show properties, as there was no place to park and that some of the properties were damaged by the storms.
Both Scanlan and Rodriquez said that there is a dearth of inventory right now and a lot of buyers, making it a seller’s market with multiple offers being placed on properties.
“I anticipate seeing that through the spring,” said Scanlan.
Rodriquez said that there is “a lot of pent-up demand” and that the “sun is starting to shine, days are longer and people are happier.” He said the market is “booming” in the area.
“Who doesn’t want to live in JP now?” he said.
For a comparison of what can be found in the JP market, Rodriquez gave the Gazette the most expensive and least expensive home sold between March 11 and March 18.
The most expensive home was a three-family building at 43 Parkton Road that sold for $1.2 million. Rodriquez said it originally was listed for $949,000.
The least expensive home was a one-bedroom condominium at 54 McBride St. that sold for $315,000. Rodriquez said it was originally listed for $279,000.