The "open house" and "for sale" signs are out on the streets and porches -- the spring real estate season is upon us! To get a feel for the local landscape, Jamaica Plain News asked several area real estate agents about different elements of the market: condos, single-family homes and rentals, as well what they're hearing from buyers and sellers and advice they would provide to sellers, buyers and renters. This is the first article in a series this week. What are you observing in the Jamaica Plain condo market? Randal Engelmann, Focus Real Estate
We are still experiencing very low inventory in all price ranges.
Development is always big news in JP. And the Zoning Committee of the JP Neighborhood Council sees virtually every proposal of consequence. The neighborhood group meets Wednesday to consider two projects. The largest is a proposal from the JP Neighborhood Development Corp. to build 44 units of affordable rental housing at 25 Amory St.
Jamaica Plain real estate wasn't always the hottest neighborhood in Boston, but well-preserved (and sometimes not-so-well preserved) Victorian single-family homes could sell for more than $1 million. Lately, some condominiums are joining the million-dollar club. Take, for example, the very visible yellow house at the corner of Pond Street and the Jamaicaway. Two of the condos are currently listed for $1.875 million each, reports the Boston Herald. Statistically speaking, condo prices are rising faster than single-family home prices in the Boston area, with condo prices jumping 12.2% in JP in the first half of 2016, according to Boston.com.
The old James's Gate Pub will become 11 condos plus ground-floor retail in a four-story building approved this week by a key neighborhood group. The Zoning Committee of the JP Neighborhood Council voted 8-2 with one abstention to recommend support for a plan by local developer Stephen Ballas to transform the site at 5 McBride St. The proposal has been on the table for roughly a year. Wednesday marked at least the fifth community meeting about the project. While condos are nothing new in JP, the size of the proposed development and fact that it takes the place of a well-known pub have focused attention on the project.
One of the most-watched real estate developments in a neighborhood full of them returns to public debate this week. The former James's Gate site at 5 McBride St. will be on the docket Wednesday when the JP Neighborhood Council's Zoning Committee meets. The meeting begins at 7 p.m. at Farnsworth House, 90 South St., just a block from the abandoned pub. Proponents are pitching a four-story mixed-use building that would have 11 residential units and commercial space on the ground floor.