HOME PRICES INCREASE SINCE 2005 IN URBAN AREAS!

9 Columbus Sq.

The Boston Globe Reported on the Top 11 Cities and Towns in Massachusetts that have seen an increase in home prices since the recession. I am most interested in three on the list, which are Brookline,Cambridge and Downtown Boston. As a city broker this is not a surprise although the 42% increase in home prices in downtown Boston that Globe reported is a big swing! I believe it is slightly skewed by the new luxury developments that have popped up in that timeframe (The Clarendon, the W and 45 Province to name a few). But, still, quite an achievement for the real estate community!

The urban centers of Massachusetts have easily been the best performing areas in the state. We see a lot of empty nesters moving back into the city and exchanging their McMansions for a 2 bedroom condo and a much shorter daily commute to work. Young families are staying longer in the city and opting to send their kids to Boston Public or private institutions. The city is thriving and at CondoDomain we love to be part of the action! Take a look at the statistics below and call me to invest in these “recession proof” neighborhoods.

#1 BROOKLINE
Median home price in 2011: $1,188,750
Change in value since 2005: +6.1%
Population: 58,732
On the market: 125 Addington Road
$1,275,000
5 bedrooms, 2 baths, 3,591 square feet, 0.14 acres

#2 CAMBRIDGE
Median home price in 2011: $735,500
Change in value since 2005: +10.2%
Population: 105,162
On the market: 5 Walden Mews
$729,000
3 bedrooms, 2 full/1 half baths, 1,956 square feet, 0.04 acres

# 3 DOWNTOWN BOSTON
Median home price in 2011: $1,935,000
Change in value since 2005: +43.2%
Population: 117,305
On the market: 9 Columbus Square, South End
$1,849,000
5 bedrooms, 2 baths, 4,435 square feet, 0.04 acres

We serve all these areas and happy to help you with all of your Boston condo needs – feel free to contact us anytime – 877-852-6636

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A Real Estate Blog by CondoDomain