So the March numbers are out: average US home price is now $200,700. What does that get you in Back Bay or Beacon Hill? Not a whole lot, and I’ve shown you each before:
366 Comm Ave, #2L – $179,000, 190 sq. ft.
Might sound ideal for a bargain hunter who laughs in the face of claustrophobia, but it’s still a steep $942/sq. ft.
60 Myrtle St, #1 – $225,000, 285 sq. ft.
Holy crap, it’s not even a basement! And there’s a private porch! Of course, it’s also 12.5% higher than our $200,700 limit…
Thing is, though, that $200,700 dollars is only about 125,000 Euro, or a mere 100,000 GBP. And if you’ve seen the book value of some properties in downtown London recently, you won’t wonder why so many foreigners are investing in Boston’s real estate market.
Kind of appropriate, then, that our marathon has been dominated for so long by foreigners; they’ve owned that final stretch of Boylston Street for the past twenty years. Pretty soon, they’ll own the property alongside it, too.
Image: Robert Cheruiyat, 2008 Boston Marathon Winner. George Roberts, 2008. Public Domain via Wikimedia Commons