Expired, canceled listings on the rise in hip Boston suburbs

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

Inventory shortages may be keeping a lid on sales in many markets around the U.S. but a couple of “hipster hotspots” in the metro Boston area — Cambridge and Sommerville, Mass. — saw an uptick in expired or canceled listings during the final quarter of 2013, BostonRealEstateNow’s Scott Van Voorhis reports, citing figures from Real Estate Cafe’s Bill Wendel.

Wendel thinks sellers may have unrealistic price expectations, particularly in Somerville, where cancellations and expirations were up 35 percent from a year ago. Source: boston.com.