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Invest in Fenway
The Fenway-Kenmore neighborhood encompasses quite a large geographic area and yet has not the same density of housing as the other neighborhoods of similar size. This is principally because it includes a good portion of the Emerald Necklace green space. Fenway can also boast being home to the Museum of Fine Arts, Symphony Hall, and the recently renovated Christian Science Plaza. Kenmore Square is, of course, well known for its towering Citgo sign.
Housing in the Fenway-Kenmore area consists mainly of condominiums and apartments. As such, most of the units are tenant occupied and principally by young college students. Local campuses include Northeastern University, Wentworth Institute of Technology, and the Boston Conservatory at Berklee. The area also boasts hospital campuses such as Beth Israel Deaconness Medical Centre.
Housing in The Fenway has been running from $317,000 for a studio apartment to over $7M in the new 1 Dalton skyscraper. Pricing obviously varies depending upon size, location, and amenities. Real estate sales and rentals are very fluid and can fluctuate in a matter of hours because homes can come on and off the market daily… even hourly.
The following chart is a visual representation of the cyclical nature of real estate and compares the ups and downs of The Fenway to the ups and downs of all of Boston. The taller the column the better it is for buyers. The shorter the column the better it is for sellers. Hence 2010 was the best time for a buyer to buy in Fenway, while 2013-2017 were great years for sellers. However, the graphic below indicates a weakening seller’s market as off-market listings are on the rise.
This next chart shows the number of sales occurring in Fenway month-to-month, year-to-year since 2018 and provides you a historical overview of the best times to sell – months with the greatest number of sales (spring and fall) – and the best times to buy – months with the fewest number of sales (summer and winter). CAVEAT: there are usually more houses to choose from in the first half of the year.