Chelsea Sale Prices Range Widely as Most Deeds Omit Purchase Price

CHELSEA -- Eleven property deeds were recorded in Chelsea between Aug. 14 and Sept. 12, but only two listed a sale price, leaving most of the period's transaction values undisclosed under standard deed-recording practice.

MARKET OVERVIEW Eleven deeds were recorded over the four-week period, a pace of roughly three transactions per week based on the raw count. Of those, two disclosed a sale price: $100,000 and $832,500, a range of $732,500 between the two known figures. The median of the two disclosed prices is $466,250. Because only 2 of 11 sales carried a recorded consideration amount, these figures describe a small subset of the period's activity rather than the full market.

TOP SALES 125 Garfield Ave sold for $832,500 on Aug. 17, the highest disclosed price of the period. The sellers were listed as De Pina Eidiliana S V and Do Rosario Lomba Vera L; the buyers were Primary Residential Mortgage Inc and Mortgage Electronic Registration Systems Inc. 60 Dudley St Unit 202 sold for $100,000 on Aug. 14. The seller was Routhier Daniel M; the buyer was Mass Bay Credit Union. The remaining nine transactions recorded during the period did not disclose a sale price, so they cannot be ranked against these two by value.

NEIGHBORHOOD BREAKDOWN The 11 recorded deeds spanned 11 different streets: Broadway, Central Avenue, Garfield Avenue, Commandants Way, Williams Street, Dudley Street, Nichols Street, Clark Street, Shurtleff Street and Pearl Street, plus one entry listing no street address. No two transactions shared a street name, so no geographic cluster emerged in this period. By price tier, among the two disclosed sales, one fell under $500,000 (60 Dudley St Unit 202, $100,000) and one exceeded $500,000 (125 Garfield Ave, $832,500). The remaining nine sales, all with price not disclosed, cannot be placed into a tier.

MARKET NOTES Deed records show at least five of the 11 transactions involved a bank, mortgage company or Mortgage Electronic Registration Systems Inc as either grantor or grantee: 927 Broadway (Homexpress Mortgage Corp and MERS as seller), 125 Garfield Ave (Primary Residential Mortgage Inc and MERS as buyer), 60 Dudley St Unit 202 (Mass Bay Credit Union as buyer), 234 Clark St (Savings Bank as buyer), and 130 Shurtleff St (MERS as seller and US Bank Trust Company NA as buyer). Three other transactions moved property between an individual and that same individual's living trust: an unaddressed Chelsea property (DeVerna Christopher John to DeVerna Christopher J and the Christopher John DeVerna Living Trust), 160 Commandants Way Unit 405 (Schoen Stephen D to Schoen Stephen and the Stephen Schoen Living Trust), and 148 Pearl St (Abraham Makonnen Realty Trust to Abraham Makonnen). These are recorded as same-name transfers; the data does not indicate why. One deed, at 165 Central Ave, listed the City of Chelsea alongside an individual, Alarcon Michael, as seller; no buyer was listed in the record. Three of the 11 sales involved condominium units, identified by unit numbers: 160 Commandants Way Unit 405, 60 Dudley St Unit 202 and 60 Nichols St Unit 1. The remaining addresses were listed without unit numbers; deed records do not otherwise specify property type.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.