Invest in Boston’s Up and Coming Neighborhoods

I’m frequently asked by clients about up and coming neighborhoods to invest in, whether as a primary or secondary residence or for rental income.

A market that is up and coming is one in which the price per square foot is relatively low compared to more established neighborhoods, such as Back Bay or Beacon Hill, and where price per square foot is on an upward trajectory.

Whether your preference is for a new or pre-owned condo in a luxury high-rise, an 1800’s brownstone that’s been updated though not necessarily recently or something in between, several Boston neighborhoods fit the bill for ‘up and coming’ …including East Boston, Dorchester, South Boston, Fenway and Brighton.

Below you will find recent market data, sourced from Link and MLS, as well as a link to my curated collection of one, two and three-bedroom condos for sale in these five up and coming neighborhoods. If you are interested in learning more about any of these neighborhoods and current opportunities, contact me to get the conversation started. I look forward to hearing from you!

FENWAY

Average sale price is up 173% year to date versus 2015, 157% versus 2016 and 118% versus 2017.​

Median sale price is up 147% year to date versus 2015, 123% versus 2016 and 110% versus 2017.

Average price per square foot sold is up 89% year to date versus 2015, 76% versus 2016 and 75% versus 2017.

Absolute condo sales were up 236% versus 2017. In 2018, 45.7% of condo sales were $800,000 and above, with 19.4% $1,000,00 or more, driven by sales of the new luxury condo building, The Pierce Boston.

DORCHESTER

Average sale price is up 48% year to date versus 2015, 31% versus 2016 and 10% versus 2017.

Median sale price is up 38% year to date versus 2015, 35% versus 2016 and 8% versus 2017.

Average price per square foot sold is up 41% year to date versus 2015, 20% versus 2016 and 5% versus 2017.

Absolute condo sales are up sales 17% versus 2017. In 2018, 23% of condo sales were $600,000 and above, with 1% in the $900,000 + range. In 2017, 14% of condo sales were $600,000 and above with sales maxing out in the $800,000 range.

EAST BOSTON

Average sale price is up 44% year to date versus 2015, 39% versus 2016 and 14% versus 2017.

Median sale price is up 42% year to date versus 2015, 32% versus 2016 and 15% versus 2017.

Average price per square foot sold is up 66% year to date versus 2015, 58% versus 2016 and 33% versus 2017.

Absolute condo sales were down 4% versus 2017. In 2018, 49% of condo sales were $500,000 and above, with 7.6%% in the $700,000’s. In 2017, 38% of condo sales were in the $600,000’s with sales generally maxing out in the $700,000’s with one outlier.

SOUTH BOSTON

Average sale price is up 40% year to date versus 2015, 19% versus 2016 and 18% versus 2017.

Median sale price is up 38% year to date versus 2015, 20% versus 2016 and 19% versus 2017.

Average price per square foot sold is up 28% year to date versus 2015, 18% versus 2016 and 7% versus 2017.

Absolute condo sales were up 3% versus 2017. In 2018, 45.7% of condo sales were $800,000 and above, with 19.4% $1,000,00 or more. In 2017, 24.7% of condo sales were $800,000 or more with only 8.9% of sales over $1,000,000.

BRIGHTON

Average sale price is up 65% year to date versus 2015, 46% versus 2016 and 22% versus 2017.

Median sale price is up 58% year to date versus 2015, 44% versus 2016 and 21% versus 2017.

Average price per square foot sold is up 86% year to date versus 2015, 58% versus 2016 and 38% versus 2017.

Absolute condo sales were up 8% versus 2017. In 2018, 33% of condo sales were $600,000 and above, with 2.8% $1,000,00 or more. In 2017, 13.5% of condo sales were $600,000 or more with sales maxing out under $1,000,000.

 

 

If you are interested in viewing recent listings for any of these 5 up and coming neighborhoods in Boston, please click the link below to view my collection.

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