This iddy-biddy (1,200 sq.ft., 3 bedrooms, 1 bath) cottage on Grove Street was listed in May for $850,000 and went to contract in just twelve days. Closed yesterday at $835,000. Assessed value is just $500,000 or so. Grove’s a nice street, the house is in good shape (renovated in 2003) but I’d say we’re on our way to establishing basic shelter value in town and that price is well above where I expected it to drop. Good for sellers but buyers in the lowish end, you might want to revisit some houses you’ve looked at and passed on, waiting for them to drop. This may be temporary but, for now, the price for a decent starter home in a decent neighborhood seems to be settling in in the 8s.