The snazzy heatmap above (click to enlarge) comes courtesy of Laura Ahmes-Gollinger, vice president of real estate marketing firm the Collaborative Companies. Using data from LINK Boston and the multiple-listing service, it shows the average condo sales prices per square foot of various neighborhoods and cities in the region. It also shows how downtown Boston's particularly high costs price out younger would-be buyers and renters.
Here's Ahmes-Gollinger to explain: "The effect of this migration causes a gentrification of these neighborhoods as these new buyers (and renters) demand the residential infrastructure necessary to support their live/work/play convenient urban lifestyles. Somerville is a great example of this with the huge foodie scene, extension of the green line in planning, and the major plans for development and residential housing that we will see in the coming years. In contrast, foreign buyers and empty-nesters will continue to live in the heart of the city and are willing to pay high prices for these amenity-rich, full-service, maintenance-free lifestyles."
This chart, also by Ahmes-Gollinger, basically once again shows the sorry state of Boston's condo stock, a sort of meta-trend for the city this decade: "This bar chart shows the price appreciation from 2012 through current listings (as of 11/18/2014) for condominium sales by neighborhood. Not surprising places like Back Bay and Midtown have some of the highest sale prices per square foot, as a result of the location within Boston proper and the amount of luxury condominium buildings with full service or hotel amenities. While listing prices are high for these neighborhoods, inventory is extremely limited. There were approximately 3,700 sales across all of the neighborhoods represented in the graph in 2014, representing 309 sales per month. Currently, there are only 300 units on the market for sale in these neighborhoods, which represents slightly less than one month's supply of inventory."
· Boston, It's Time to Admit You Have an Inventory Problem [Curbed Boston]
· Our Graphic Content archive [Curbed Boston]