DORCHESTER MASSACHUSETTS CONDO MARKET
Taking the number one spot on the lists of largest neighborhoods in Boston, as well as most populous and most diverse, is Dorchester. With more than 6 square miles of total area, Dorchester is so large that it contains several smaller neighborhoods within its limits. Also, in order to make it more statistically comparable to the other neighborhoods, Dorchester is sometimes split into two sections of equivalent size – referred to (unofficially) as North and South Dorchester. And with a total population of over 92,000, it's not difficult to understand why.
Real estate property in Dorchester is highly desirable, due in part, perhaps, to the area's extreme diversity. For individuals seeking a neighborhood that is a little more excepting, Dorchester is a popular choice. The area is home to people from several different countries, as well as people of numerous different religions, sexual orientations, etc. Residing in a community where people are, for the most part, accepting of alternative lifestyles can play a big part in whether or not someone is happy with their home life. Because Dorchester offers that, real estate property in the area is highly sought after.
Real estate in Dorchester:
While the median listing price of all homes is $214,000 – the median sales price for a single family or multi-family home is approximately $403,400 and the median sales price for a condominium is approximately $293,650.
The average cost of housing in Dorchester is similar to, or less than, the average of housing costs in the rest of the Boston area and neighborhoods. And while most popular neighborhoods such as this tend to be more expensive, the fact that Dorchester is so popular yet maintains low costs – attracts people to the area even more. In addition to the diversity and comparatively low costs, Dorchester also offers several historical facts that may draw people to the neighborhood. For example, The United States' first ever chocolate factory was located in Dorchester. Also, for a period of time, Martin Luther King Jr. lived in Dorchester while he attended Boston University. And while many people are drawn to the area because of its rich history, there are also numerous points of interest in the neighborhood. The United States' first community health center was founded in Dorchester. The health center, now known as the Geiger-Gibson Community Health Center – is still in operation today.
Dorchester has contributed to the progression of real estate properties in more than one way. In the early 1900s, the Dorchester area experienced a wave of immigrants from all around the world. Due to the explosive increase in the population, the triple-decker apartment buildings that Dorchester is known for became popular. Also, the country's first federal housing project transformed into mixed-income, private housing – was located in Dorchester. Completed in 1990, the housing units offered a helping hand during economical hardships. With its contributions in the real estate industry – as well as several other popular areas of interest – makes Dorchester a great fit for anyone.