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Hottest Boston Neighborhoods for a High Price

by John Walsh

Using Redfin’s home sales data from August 2015, Boston.com discovered that dozens of cambridgeneighborhoods saw mediocre sale-to-list ratios over 100 percent. In other words, the average home seller in those areas received more than their initial asking price. By this metric, some of the most sought-after neighborhoods were Hyde Square in Jamaica Plain, Cambridgeport, Central Square in Cambridge, Franklin Field South in Boston and West Cambridge.

Here were the top 10 neighborhoods:

  1. Central Square, Cambridge. Average sale-to-list ratio: 114 percent. Median home price in August: $660,000.
  2. Franklin Field South, Boston. Average sale-to-list ratio: 113.6 percent. Median home price in August: $278,775.
  3. Cambridgeport, Cambridge. Average sale-to-list ratio: 111.6 percent. Median home price in August: $825,000.
  4. West Cambridge, Cambridge. Average sale-to-list ratio: 108.2 percent. Median home price in August: $975,000.
  5. Hyde Square, Jamaica Plain. Average sale-to-list ratio: 107.1 percent. Median home price in August: $440,000.
  6. Industrial Park, South Boston. Average sale-to-list ratio: 106.9 percent. Median home price in August: $576,000.
  7. Bellevue Hill, West Roxbury. Average sale-to-list ratio: 106.5 percent. Median home price in August: $670,300.
  8. Harvard Square, Cambridge. Average sale-to-list ratio: 106.4 percent. Median home price in August: $798,806.
  9. Riverside, Cambridge. Average sale-to-list ratio: 104.9 percent. Median home price in August: $430,000.
  10. Egmont Tenants, Brookline. Average sale-to-list ratio: 104.3 percent. Median home price: $815,000.

The home sales for Central Square had an average sale-to-list percentage of 114 percent, whereas Hyde Square came in at 107 percent. Cambridge appeared as one of the hottest places to live, accounting for five of the top 10 neighborhoods with homes selling over their list price. Low inventory was prevalent among many municipalities in 2015, hiking prices up and creating bidding wars among prospective homebuyers.

The median sale price of Franklin Field South was $278,775, while homes in West Cambridge sold for an average of $975,000. Though many families probably saw decent returns on their home sales, the median sale price was mixed across the board.

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