Boston’s Top Million Dollar Neighborhoods
David Bates / January 12, 2011-6:33 pm
Between 2004 and 2009, nearly 1,500 Boston condominiums sold for more than $1 million apiece. Where were they? About 45 percent (621 sales) of the sales were in Back Bay, easily making it the No. 1 location for million-plus condominiums. The South End was a little less than half as productive as the Back Bay and was the second-most-popular location (289 sales). The next three Boston locations in order of their propensity for million-plus sales were Waterfront (174 sales), Beacon Hill (122 sales) and Midtown (122 sales).
While Boston locations like Midtown needed new projects to get condominiums to top the million mark (Ritz Carlton: 101 million-plus sales) and emerging locales like Jamaica Plain can score a million-dollar sale by putting a new project in its most-sought-after location (Pond Side), Back Bay doesn’t need new projects or stellar locations for a property to top a million dollars in sale price. In Back Bay, less than 1200 square feet of living space can garner $1 million-plus (9 sales) — it doesn’t even necessarily have to be in a luxury building. In Back Bay, a condominium home can have a number so high on Marlborough Street that it’s on the wrong side of Mass Ave., a location that old-time Back Bay residents might not consider Back Bay at all. And in Back Bay, if the location is right, a basement condominium might even get a million-plus, like the one at 246 Com Ave. Back Bay is surely the king of costly condos for Boston locations, but the experience of living there is –as its residents know– …priceless.