East Boston

How Much is a Condo in Boston?

The condo market in Boston is growing quickly. According to an August, 2016 report released by realestate.com, both the number of available condos and their prices are on the rise. A big reason for the higher average price is the development of many new luxury condos. Longwood Towers Condominiums is one such example. These units have a lot of amenities not previously found in Boston condos. Some of these features might include an on-site fitness center, concierge service, and valet parking.

Condo Prices vs. Single-Family Home Prices

In late 2016, the average condo in Suffolk County was $520,000. This represented a 9.5% increase over the first half of the year. Suffolk County includes Boston as well as smaller, nearby cities like Chelsea and Revere. The average single-family home in the same county sold for $440,000. That was 4.4 percent higher than the first half of 2016.

Here are the average condos prices for Boston and nearby cities:

  • Downtown Boston (including South End, Midtown, and Back Bay) - $800,000

  • South Boston - $615,000

  • East Boston - $400,000

  • Cambridge - $651,000

  • Somerville - $587,000

  • Jamaica Plain - $478,000

These prices can certainly be discouraging, especially for a first-time homeowner. However, attending one of our first-time home buyer seminars can provide you with several resources. If you don’t see any upcoming, please contact us, or feel free to call us at (617) 396-3100, and we’ll be sure to arrange a seminar to help you soon!

How Are Condos Different?

Many Bostonians prefer condos because it allows them to own property with more perks and less responsibility than a homeowner. It also provides more freedom than renting an apartment. Someone else handles all outside maintenance such as mowing the lawn or shoveling snow. Since you own your unit, you’re free to decorate or remodel as you see fit. The one exception is that you won’t be able to make structural changes to common walls between your own space and a neighbor’s.

If you’re looking for luxury and convenience, speak to us today about Longwood condos for sale.

Awesome Longwood Condos for Sale

Before you pursue Longwood condos for sale, it’s helpful to review some basic information about condominium living. When you buy a condo, you own the entire inside of your unit. The condo association owns the exterior, common areas, and the land where the building sits.

You are not responsible for exterior maintenance as a condo owner. However, it’s important to budget for association fees in addition to your monthly mortgage payment. The money collected from all residents covers the cost of maintenance and repair in common areas such as hallways and meeting rooms.

Which Boston Neighborhood is Right for You?

One of the major benefits of Longwood condos for sale is that we have units available in multiple Boston neighborhoods. These include:

Of course, you need to consider several personal factors when deciding where you want to purchase a condo. Proximity to your work, quality of the school district, and access to public transportation are just three of the most important things to people looking to make one of these Boston neighborhoods their new home. You can search by neighborhood, price, MLS listing number, and other categories when trying to locate an available unit sold and managed by Longwood Residential.

Average Cost of Boston Condos by Square Foot

Our prices fall in line with those listed on a report released by Curbed Boston on January 5, 2017. With the new year just weeks old, prices range from $263 per square foot in the Hyde Park neighborhood to $1,467 per square foot for a condo in Back Bay. These figures include condos ranging in size from 812 to 3,247 square feet.

The analysis posted by Curbed Boston includes data from 10 distinct Boston neighborhoods. This is to give buyers an accurate idea of the average monthly payment for a Boston condo in place of using a mortgage calculator.

Featured Longwood Condos for Sale

With a presence in all 14 of the Boston neighborhoods listed above, Longwood Residential is sure to have a condo available to suit your needs. Below are just three of our luxury properties that could be your new home:

  • Ritz-Carlton Condos: Named for the hotel chain that offers such personalized service, the Ritz-Carlton Condos give you more of the same. Whether you’re interested in valet parking, room service, or wake-up calls, you can receive these services and more as a resident here. A picturesque view of the harbor completes the experience of condo living at its finest.

  • Mosaic on the Riverway: Want to live in a building with top floor club space? Then Mosaic on the Riverway is the place for you. Besides the serene view from high above the city, this building is conveniently located in the Longwood Medical Area.

  • Washington on the Square: When you want the convenience of a condo but don’t want or need a lot of space, consider a studio-sized unit at Washington on the Square. One and two-bedroom condo units are available as well. You don’t even have to leave home to exercise since the building comes equipped with a 24-hour fitness center.

Please contact us at your convenience to learn more about Longwood condos for sale.

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Hot Boston Neighborhoods You Should Invest In NOW

Real estate is an excellent investment option because it generates a predictable income source and its value increases over the years. Whether you’re new to real estate investing or a seasoned professional, you need to know which Boston neighborhoods make the best investments.

Jamaica Plain and Roslindale

These neighborhoods are slowly becoming too expensive for low income and middle class renters, but both of them are attractive to young professionals with few obligations who can afford the rent. A current trend among investors in Jamaica Plain and Roslindale is to live in a multi-family property they buy or in a single-family home with extra rooms. They can then rent out the space they are not using.  One obvious benefit to this is that your renters pay most of the mortgage.

Roslindale is the more affordable of these two areas. People who are priced out of Jamaica Plain are heading to nearby Roslindale to look for housing. This is good news for you as an investor. The area also has a huge draw in Roslindale Square. The weekly farmer’s market is a hit, as are the numerous restaurants and shopping options.

Other Boston Neighborhoods to Consider

Condos are an attractive option for people who want stability without the demands of home ownership. The Brighton neighborhood is home to several one and two-family homes that have been converted to condos. This is a good time for investors to get in on the growing condo market in Brighton. The area is also home to Brighton Center. It is a vibrant area containing shops, restaurants, and many businesses.

East Boston offers an amazing skyline view and is connected to greater Boston by harbor tunnels and the MBTA’s blue line. The area has improved significantly over the past few years and is attractive to renters. If you prefer to buy investment property in the suburbs, consider Watertown. This Boston neighborhood is less expensive than the city and may be a good option for renters with young families.