Bay Village home prices increased more than in any other Boston neighborhood in the first three quarters of 2017 compared with the same time in 2012, according to an analysis of closed deals from real estate research site PropertyShark.
The median sale price in Bay Village—Boston’s tiniest official neighborhood—increased $533,500.
Downtown, including the Financial District, saw the second steepest price growth, with the median sale price rising $321,000. The South End was No. 3, with a growth of $294,500; Chinatown/Leather District was fourth with $285,000; and Beacon Hill was a close fifth with a change in median price of $280,000 between 2012 and 2017.
Are such bounces a surprise in a city where high home prices have lost their power to shock locals? Not really.
But here is something a little shocking. Consider East Boston and Roxbury: The median sale price in these two neighborhoods basically doubled during the past five years.
That’s right: Two of the city’s more affordable enclaves are twice as expensive as they were in 2012. Happy Thanksgiving.
- Boston’s top 5 fastest-rising neighborhoods in 2017 [PropertyShark]
- Exploring Bay Village, Boston’s smallest official neighborhood [Curbed Boston]