South Boston led transaction activity with 324 sales closed in the first half of 2021
PropertyShark has just released a new local report, analyzing and ranking Boston’s priciest neighborhoods in the first half of 2021.
To assess how the city’s residential market performed so far this year, they analyzed all sales registered between January 1 and June 30, 2021 as well as deals closed in 2020 in the same timeframe.
Findings show that Boston’s median sale price reached an all-time high in H1 2021, as an increase in sales volume points towards a growing homebuyer appetite.
- At $1.25M, Downton-Financial District became the #1 most expensive neighborhood in Boston in H1 2021, surpassing Back Bay (#2) and Bay Village (#3).
- Back Bay’s median rested at $1.15M, while Bay Village posted a median of $1.14M.
- While these two notoriously expensive areas had medians decrease Y-o-Y, this ranking change is due at least in part to the fact that homebuyers preferred smaller homes so far this year compared to H1 2020. More specifically, average square footage of homes sold dropped by 18% in Bay Village and 16% in Back Bay, respectively.
- South End came in at #4 in the top, with a median of $950K, down 11% Y-o-Y.
- South Boston led transaction activity with 324 sales closed in the first half of 2021.
- 12 out of the 21 neighborhoods saw their median increase up to 19%, while in 8 neighborhoods medians decreased up to 35%.
Check out the full study for a more detailed analysis here!
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