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Thorough breakdown of real estate data trends, their causes and their implications. Get insights into some of the nations hottest real estate markets so you can make informed decisions for real estate investing.
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Most Expensive Boston Neighborhoods to Buy a Condo

Posted 11-23-2021 at 02:53 PM by zachparker7




Boston’s condo market has seen an explosion of new development projects over the past decade. A shortage of developable land led the city to create housing initiatives that would add enough livable units to accommodate the growing Metro population within a limited amount of space. As a result, developers are building up and Boston’s skyline has been reshaped with modern luxury high rises offering some of the finest condos for sale in Boston.

Along with this new development comes rising real estate prices. The number of high end luxury buildings has been increasing as Boston’s workforce has evolved to be more white collar than blue collar. A shortage of single family homes in the housing inventory is putting upward pressure on prices across all property types.

Nowadays it’s pretty common to see penthouse condos being sold at over $10M in Boston. The penthouse unit in the Millennium Tower sold for $33M in 2016 and the penthouse unit atop One Dalton was listed at $34M this year. So where are the most expensive places to buy a condo in Boston? Let’s have a look at the data.

1. Seaport District - $1.88M

The Seaport District is currently the highest priced condo market in Boston according to the last 365 days of MLS data. The median sales price for condos in Seaport was $1.88M across 208 residential real estate transactions, all of them being condo sales. There are 50 active condo listings in Seaport at the moment varying greatly in price, but if you buy a condo in Seaport, expect high end luxury condos with high end luxury prices.

2. Back Bay - $1.80M

Back Bay is one of Boston’s premier neighborhoods, boasting the highest single family and multifamily median sales prices. The market for Back Bay condos is as expensive as it is anywhere in the city with a median sales price of $1.80M for condominium units, just slightly under Seaport. The condo supply in Back Bay has been growing in recent years with several high profile new construction projects being completed, and many more are on the horizon.

3. Downtown Boston - $1.49

Downtown Boston, like Seaport, is a market consisting almost exclusively of condo listings. It has the 3rd highest median condo sales price in the past year at $1.49M, and it recorded a total of 211 condo sales during that time span. There are currently 85 listings of condos for sale in downtown Boston.

There are 3 other neighborhoods in Boston where the median condo sales prices are above $1M. These are Beacon Hill ($1.25M), Bay Village ($1.13M), and South End ($1.07M). All 6 of these neighborhoods are situated in Boston’s inner core, so if you plan on buying a condo near Downtown, expect to see a hefty price tag.
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