For July 2020, the average asking price in Boston was $702 per square foot. However, the average asking price conceals a significant range – from a low of $141/sq.ft. (for the most affordable property in Dorchester overall) to a high of $3,564/sq.ft. (for the most expensive property in Back Bay).
For comparison, let's look at the pricing chart for November 2019, shortly before the pandemic hit. The average asking price then was $656 per square foot, so prices have increased 7.0% in just eight months.
That said, the Boston real estate market is anything but monolithic. As with many cities, asking prices remain high (propped up in part by low mortgage rates) even as rents have fallen and vacancies rose. At the same time, office and retail space have been among the sub-sectors hit hardest by the effects of the pandemic.
A breakdown of July asking prices, by neighborhood:
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