The snowfall wasn’t the only thing that will break records in Boston this year; it seems more records will be beat when it comes to the city’s real estate and construction.
According to Curbed, 2,461 new apartments, condos, and houses will have been approved for building in Beantown between January and June, making it a banner year—with the construction value totaling $1.65 billion.
So which neighborhoods are dominating the new-dwelling domain? While the entire city is seeing construction, it seems South Boston, East Boston, and the Seaport District are the leaders of the pack. So if you’re looking to buy shiny and new, here’s the rundown on these three booming Boston neighborhoods.
South Boston has always been a close-knit community with a strong sense of pride, but now young professionals are taking notice of its many attributes, including easy access to downtown and public transportation. Accordingly, commercial construction is flourishing, with the Boston Convention and Exhibition Center, new retail and office buildings, and the planned Institute for Contemporary Art, all of which are transforming the waterfront and making Southie hotter than ever.
Current average home price: $779,000
The diverse history and beloved blend of ethnicities has always been appreciated in East Boston; now, the young and hip are hopping on board. With a great mix of old and new buildings, myriad restaurants, and beautiful skyline and waterfront views, it’s no wonder East Boston is attracting so much attention (and that home values have increased over 5% since December).
Current average home price: $448,400
Three years ago, Boston Magazine called the Seaport District “the hottest neighborhood in town.” Back then, this was just beginning, as a flurry of construction brought in new hotels and condos. Now, with a bevy of restaurants, a more residential feel, and even more new homes, the Seaport District is about to get even hotter.
Current average home price: $1,700,000
No matter which area of Boston you choose to buy in, you’re guaranteed to be a part of one of the country’s best and fastest growing cities; invest in one of these three neighborhoods, and you’ll be a part of Boston’s real estate history.