0
0
0

The best neighborhood to find a bargain in Boston

by David Wolf

While home price growth has slowed, many are still unable to afford a home in some of America’s biggest cities. But Realtor.com may have a few suggestions. In a recently published survey, Realtor.com listed the best neighborhoods to find a bargain in the 10 largest cities in the country including Boston.

For each market, Realtor.com researched ZIP codes measuring median prices, days on market and the number of homes for sale. Narrowing down even further, Realtor.com only included ZIP codes with 12 homes for sale in any given month.

Urban areas have seen the highest growth in home prices. The median home price in urban areas has increased 36.1 percent over the past three years. In suburban areas, home prices have increased around 24 percent, and rural areas have seen an 18 percent increase.

While Boston’s median listing price is significantly higher compared to the national average, potential buyers may want to look in the community of Hyde Park for a deal. In this southwest neighborhood, just 30 minutes away by rail, the median price is $378,786 – a stark contrast between Boston’s median listing of $749,000, according to Realtor.com data.

Danielle Hale, chief economist of Realtor.com, said buyers across the country are trying to be more realistic with their budgets and the areas that they look. “They’re looking for homes that might be smaller or maybe require some work, or to neighborhoods that are less expensive that might be their second pick,” Hale said.

Read More Related to This Post

Join the conversation

Oops! We could not locate your form.