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Real Estate By the Numbers

Checking in on the Jamaica Plain Real Estate Market

What's for sale in Jamaica Plain? In this post we're taking a look at the active listings currently available in one of Boston's most interesting neighborhoods. As of today there are currently 44 active listings (including those listed as contingent) in JP and of these 44 listings 36 are condominiums (81.8% of market) and both single family and multi family homes come in at 4 a piece (9.1% each). If we look back to this date last year there was a total of 87 total active listings in Jamaica Plain, marking a pretty stunning drop in inventory of almost 50%. This however, for anyone looking to purchase in Boston, should come as no surprise as inventory citywide is down to historically low levels leading to multiple offer feeding frenzies and many scenes each week which are eerily reminiscent of this Arnold Schwarzenegger classic (just insert reasonably priced Boston condo into it each time you hear turboman doll).

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In terms of average days on market for the properties currently for sale in JP we've seen a decrease across the board with condos scoring a 50 day reduction year over year. Condo listings have come all the way from an average of 112 days last September to just 62 this year, slightly below the citywide average of 65 days. Both single family and multi family homes have also shown impressive reductions in average days on market, with the 4 single family homes that remain active today coming in at a staggering average days on market of just 4.

The last metric we'll look at is the average list price in JP for properties actively on the market. In both single families and multi families we once again see huge jumps over the small samples of active listings. Condos, however, are showing a slight decrease over last year, sitting at an average list of $393,444. This is in part due to the lack of new higher end listings and a decrease in time on market for high end listings when they do come on. 11 properties currently sit under agreement with price tags above $400,000 in Jamaica Plain, including a listing at 214 Allandale Rd which was listed for $1,350,000. The neighborhood's condo market as a whole has been strong seeing an average sale price this year of $405,034, up from $362,402 during the same period last year.

To view active listings in Jamaica Plain click here.

Justin Rollo is a real estate agent in South Boston with Re/Max Realty Plus. For any and all real estate related questions he can be reached at justin@propertiesinthehub.com.