Many people believe rents are higher than ever -- and they certainly are higher than five years ago. But according to a city report, rents for Jamaica Plain's older housing stock -- buildings built before 2011 -- went down 5 percent in 2016 compared to 2015. With more rental units being built, are overall rental unit prices going to drop? Let's hear what local real estate agents have to say about the Jamaica Plain rental market. This is the third article in our series about Jamaica Plain's real estate market.
The second article in our series about Jamaica Plain's real estate market is about the single-family home market. We asked several JP real estate agents for their thoughts on the houses in which you don't have people living above you or sharing your walls -- although there's always the kids and your in-laws (if you let them move in). This first article in our series about Jamaica Plain's real estate market was about the condo market.
What are you observing in Jamaica Plain’s single-family market? Maureen McElroy, Jamaica Hill Realty
Here are some stats on single-family houses (as of April 6):
Eight active single-family homes ranging in price from $799,000 to $2,499,000
Nine single-family homes pending
Seven sold from Jan. 1, 2o17, through March 6, 2017, with an average sales price of $851,643 and an average price per square foot $382.
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.