I have a question about the Salem/North Shore market. I bought my first property, as an owner occupant, in May of 2017. Its a 2b/1b condo in Salem (North Salem) and is less than .6 miles from the commuter rail into Boston. It's a house conversion with 4 units. Two lower units are around 960 sq ft (my unit included) and the two top are 1150 sq ft. I bought the place for 199k with a 3.75 interest rate after a host of issues including items in the deed not complete by closing. All and all, I've made out of pocket repairs and was able to get other things completed by the seller.
The other lower unit just went on the market for 36k more than what I bought the identical unit for and about 20k more than what I asked. It's been on the market less than 60days. People have come to view it but for a variety of reasons, mainly the seller and her lawyer, no buyers. My property still has unfinished work in the basement but is updated and move in ready. The other unit is listed as having 1 parking space but when they visit they are informed that the the easement is still contested with the neighbors. I have 2 deeded spaces.
There are less than 2 properties in Salem on the market for less than 230k. Should I hold the property for a while or sell? Just curious. Thanks!