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Dorchester hot now?

Posted by Scott Van Voorhis August 28, 2013 10:38 AM

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Everyone knows downtown Boston is hot. If you want to live in the Back Bay, South End, and Beacon Hill, being a millionaire is not required but definitely helps.

But the price increases are now starting to hit the Hub's working class neighborhoods as well, with Dorchester, Roxbury, East Boston and Mattapan all seeking big spikes.

There was a time you could buy a foreclosed home or condo for $50,000, but those days are on the way out, which is a good thing.

The foreclosure crisis that once hammered urban neighborhoods across the state is tapering off, with foreclosure filings by lenders down by nearly 70 percent across Massachusetts, The Warren Group reports.

The median sale price of a house in Dorchester during the first six months of the year hit $300,000, up more than 29 percent over 2012, Warren Group numbers show.

Roxbury home prices surged 40 percent during the same period, to a median price of $323,750, while East Boston is a just a shade below $300,000 after a 25 percent boost.

Mattapan is getting in on the action as well, with a median home price now of $250,000 after a 35 percent spike.

While prices are up, sales are actually down, another sure sign of the shortage of homes we are seeing across the state, whether it's Dorchester or Wellesley.

There are a lot of things to love about Dorchester, which, like many Boston neighborhoods, is made up of a lot of mini-neighborhoods.

There is an amazing array of Victorians in the neighborhood, among other things, with Dorchester growing into a Boston suburb with the arrival of the railroad in 1845.

Here's a blurb from the Dorchester Historical Society.

The Architecture of the Railroad Suburb

The arrival of the Old Colony railroad in 1845 transformed Dorchester from a sleepy town of farmland and sprawling estates into a trove of intriguing Victorian residential architecture. Boston's best architects executed commissions in Dorchester - freed from the cramped environs of Back Bay, they created exuberant displays of their craft. Happily, scores of Victorian homes have survived, and many have enjoyed loving restorations.

So is Dorchester hot now? What's your take?

This blog is not written or edited by or the Boston Globe.
The author is solely responsible for the content.

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About boston real estate now
Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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