5 Boston Submarkets Fetch Over $1,000 PSF
For the first time in history, five Boston sub-markets are fetching over $1,000 per-square foot. Ongoing inventory battles, created by the outpour of new luxurious condominium developments, in addition to rapid absorption rates, are creating a hyper-competitive housing market.
The release of 22 Liberty, a 109-unit development by The Fallon Company, and Millennium Tower, a 442-unit development by Millennium Partners, created a surge in sold price per square foot in 2016.
Beacon Hill still remains Boston’s most expensive neighborhood, selling for an average $1,306 price per square foot, followed closely behind the Back Bay, topping $1,194 per square foot, and $1,158 per square foot in Downtown Boston.
With average sold price per square foot reaching $931 in Fenway, the question remains if they too can become a part of this exclusive list?