Real estate research site NeighborhoodX surveyed housing prices in Dorchester, Boston’s largest neighborhood by area, as of late January and drew some interesting conclusions.
Chief among those was that the under-development South Bay project was commanding some of Dot’s highest prices. Over to NeighborhoodX research director Constantine Valhouli with an emailed explanation:
The upper end of the market is driven by new construction, and while Lower Mills has traditionally commanded some of the highest prices per square foot in Dorchester, the Assembly Square-style project at South Bay is commanding even higher average asking prices—in part, given its proximity to South End, while Lower Mills is at the furthest edge of Boston.
It is worth remembering that Dorchester was once an independent town, with many neighborhoods, before it became a large neighborhood of Boston. And each section has different competitive advantages. There are waterfront and beach neighborhoods within Dorchester, and there are lively inland neighborhoods. South Bay is a neighborhood with considerable potential, if it is developed correctly.
The analysis covered complete market-rate listings, and it excluded foreclosures and short sales as well as properties positioned as development sites.
- A local’s guide to Dorchester, Boston’s largest neighborhood [Curbed Boston]
- Dorchester’s massive South Bay project gets officially underway [Curbed Boston]