Boston’s Back Bay and Waterfront/Financial District neighborhoods are the top luxury housing markets in the entire Greater Boston area, according to exclusive numbers that Redfin provided Boston Agent.
Both neighborhoods saw 69 luxury sales in 2016’s third quarter, but the breakdown was interesting – while Back Bay led the area with 64 sales of $1 million or more, Waterfront/Financial District led in the $5 million-plus market with nine sales. Also, while Back Bay’s average sales price is down 3.8 percent from last year, Waterfront/Financial District’s has skyrocketed 47.3 percent (likely because of all those high-priced sales).
See our chart below for more perspective:
| City | Number of $1M+ sales | Number of $5M+ sales | Avg Luxury Sale Price | YOY Change in Luxury Price |
|---|---|---|---|---|
| Boston (Back Bay) | 64 | 5 | $2,458,000 | -3.8% |
| Boston (Waterfront/Financial District) | 60 | 9 | $2,689,000 | 47.3% |
| Wellesley | 41 | 0 | $1,984,000 | 16.5% |
| Weston | 40 | 3 | $2,454,000 | 18.3% |
| Brookline | 40 | 1 | $1,782,000 | -12.0% |
| Winchester | 40 | 0 | $1,482,000 | 7.2% |
| Needham | 39 | 0 | $1,483,000 | -2.9% |
| Newton | 39 | 0 | $1,607,000 | 5.0% |
| Lexington | 38 | 0 | $1,646,000 | 10.7% |
| Concord | 34 | 0 | $1,769,000 | 29.0% |