Report: Boston Area Real Estate Market Is Hot
The Boston Business Journal Data Center released its latest quarterly ranking of Massachusetts' top real estate communities.
The Boston real estate market is hot, hot, hot, according to the latest quarterly report from the Boston Business Journal Data Center.
In the BBJ's listing of the top 20 housing markets in Massachusetts, Boston neighborhoods took nine of the top spots, led by the Back Bay area (zip code 02116) in the No. 1 position with a median list price of $1.38 million and a median home value of $746,600.
Marblehead and other North Shore communities also featured near the top half of the list.
Marblehead ranked 37th overall, with a median list price of $595,000 and a median home value of $492,300, while Swampscott ranked 17th with a median list price of $489,000 and a median home value of $355,700.
Different areas of Lynn also ranked 34th, 44th and 54th, while Peabody was 85th and Salem was much further down the list at 151st.
The BBJ's "Hottest Housing Markets" report is compiled annually using data from Zillow.com. Rankings are based on a community's score using metrics such as changes in home values and sales volume, according to the article.
Also among the "hot" Boston neighborhoods listed in the Journal's latest report: the West End (zip code 02114), at No. 3 with a median list price of $658,000 and a median home value of $482,000, and Kenmore Square (02215), at No. 10, with a median list price of $459,000 and a median home value of $348,700.