Bay Village home prices increased more than in any other Boston neighborhood in the first three quarters of 2017 compared with the same time in 2012, according to a new analysis of closed deals.
The median sale price in Bay Village—Boston’s tiniest official neighborhood—increased $533,500.
Downtown, including the Financial District, saw the second steepest price growth, with the median sale price rising $321,000. The South End was No. 3, with a growth of $294,500; Chinatown/Leather District was fourth with $285,000; and Beacon Hill was a close fifth with a change in median price of $280,000 between 2012 and 2017.
Are such bounces a surprise in a city where high home prices have lost their power to shock locals? Not really.
But here is something a little shocking. Consider East Boston and Roxbury: The median sale price in these two neighborhoods basically doubled during the past five years.
That’s right: Two of the city’s more affordable enclaves are twice as expensive as they were in 2012. Happy Thanksgiving.