The 5 Boston neighborhoods where home prices jumped the most this year

by Joe Ward

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Like much of the country, Massachusetts is seeing a record number of home sales as well as rising home prices this spring. The state-wide tally of single-family homes sold in March surpassed any other March since 2006, with 3,943 homes sold, according to The Warren Group. Prices were also up over 7 percent since last year, too.

“Increasingly, we’re having to go back at least a decade to see sales and median prices at the level they’ve hit lately, and March is a perfect example,” Timothy Warren, CEO of The Warren Group, said in a statement. “As the spring market ramps up, we’re going to see these numbers climb, likely to levels at or even above those of the mid-2000s.”

Boston is also seeing the bump in single-family home sales and prices, but the phenomenon is not effecting each neighborhood uniformly. Eight out of 12 Boston neighborhoods included in The Warren Group’s market analysis had increased in median sales price in the first quarter of 2017. Still, many of the neighborhoods had fewer closed sales than last year, suggesting that inventory is still a struggle in this red-hot housing market.

Here are the five neighborhoods where prices for single-family homes jumped the most in Q1:

1. Dorchester:

Q1 ’17 sales Q1 ’16 sales Median price ’17 Median price ’16 Percent change
Dorchester 29 37 $500,000 $390,000 28.20%

 

2. East Boston:

Q1 ’17 sales Q1 ’16 sales Median price ’17 Median price ’16 Percent change
East Boston 11 11 $430,000 $375,000 14.67%

 

3. South Boston:

Q1 ’17 sales Q1 ’16 sales Median price ’17 Median price ’16 Percent change
South Boston 15 19 $850,000 $750,000 13.33%

 

4. Jamaica Plain:

Q1 ’17 sales Q1 ’16 sales Median price ’17 Median price ’16 Percent change
Jamaica Plain 10 14 $787,500 $706,128 11.52%

5. Hyde Park:

Q1 ’17 sales Q1 ’16 sales Median price ’17 Median price ’16 Percent change
Hyde Park 35 25 $385,000 $346,250 11.19%

One response to “The 5 Boston neighborhoods where home prices jumped the most this year”

  1. Sherrill Maxwell says:

    You mean “where home prices jumped” ?

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