Report: Boston Real Estate Market Is Hot
The Boston Business Journal Data Center released its latest quarterly ranking of Massachusetts' top real estate communities.
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The Boston real estate market is hot, hot, hot, according to the latest quarterly report from the Boston Business Journal Data Center.
In the BBJ's listing of the top 20 housing markets in Massachusetts, Boston neighborhoods took nine of the top spots, led by the Back Bay area (zip code 02116) in the No. 1 position with a median list price of $1.38 million and a median home value of $746,600.
The BBJ's "Hottest Housing Markets" report is compiled annually using data from Zillow.com. Rankings are based on a community's score using metrics such as changes in home values and sales volume, according to the article.
Also among the "hot" neighborhoods listed in the Journal's latest report: the West End (zip code 02114), at No. 3 with a median list price of $658,000 and a median home value of $482,000, and Kenmore Square (02215), at No. 10, with a median list price of $459,000 and a median home value of $348,700.
Charlestown (zip code 02129) ranked 27th overall, with a median list price of $539,000 and a median home value of $480,700.
Click here to read the full report and find out where other communities rank.
Plenty O'Toole
6:50 am on Friday, March 1, 2013
Why?
Joseph
8:47 am on Friday, March 1, 2013
Does this mean our property taxes will be lowered to levels we were at when the housing crisis began? As I'm sure you will recall, as soon as the real estate market tanked and our assessed values declined, Mumbles couldn't have raised our property taxes any quicker.
anna
9:04 am on Friday, March 22, 2013
the songs about "booming Mass market" are soon to change if real estate agents wish to keep their jobs. right now they inflated prices in Boston and nearby areas so that the demand fell drastically compare to the last year in most areas, leaving those people without commissions. just look at the redfin indicators. the press adds to the hype. and brings the market to a halt. nothing sells at such prices in boston except perhaps in upscale multimillion areas (for whatever reason), although people struggle and buy at the lower end of the market even there. indeed, the median list price is up, however the median price of a sold home is down compare to last year. this is all just a hype that leads the market nowhere. everything must go down, rent, real estate prices, interest - people simply do not have so much money.