One corner of Boston is home to its Museum of Fine Arts and Symphony Hall — along with the country’s priciest residential real estate.
The 02115 ZIP code — encompassing part of the city’s Back Bay neighborhood — ranks as the nation’s most expensive in terms of median home price per square foot, according to Realtor.com data reported by the Journal.
The median price per square foot for a home in the ZIP code last month was $2,663. The neighborhood has some local factors skewing it toward the top of the price charts.
One is that there’s not an overwhelming amount of inventory, as the ZIP code is home to various hospitals, educational institutions, museums and student housing. Last month, there were only 27 active listings in 02115, down 32.5 percent year-over-year.
Second, there’s a 61-story luxury tower that dominates the residential landscape of the ZIP Code. Carpenter & Company developed One Dalton, which has a Four Seasons hotel with 158 private residences. Sales in the building can exceed $4,000 per square foot, skewing the neighborhood’s median price point.
A 7,500-square-foot unit in the building is on the market for $35 million, the most expensive listing in the 02115. While the property is helping to raise the median price per square foot of the area, local agent Brian Caluori of Gibson Sotheby’s International Realty told the Journal the large brownstones and single-family residences in the area are also being bought and gutted.
“If something is in good condition, you’ll see bidding wars and the property going over asking,” Caluori said.
The median list price in 02115 was approximately $4 million last month, a jump of 37.2 percent year-over-year. Homes spend a median of 117 days on the market, according to Realtor.com.
— Holden Walter-Warner
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