Ten Hills and Prospect Hill Among 'Hot' Urban Housing Markets, Says Report
The Boston Business Journal ranked the state's most in-demand urban housing markets, and Somerville neighborhoods made the grade.
Somerville's Ten Hills and Prospect Hill neighborhoods are among the most in-demand urban housing markets in Massachusetts, according to Boston Business Journal.
The business publication looked at median home values, changes in home values and the percentage of homes selling for a loss to rank the strength of housing markets in urban neighborhoods.
In doing so, it discovered "strong momentum" in neighborhoods that "have historically struggled with higher unemployment, crime and foreclosure rates."
The Boston Business Journal said this is a "positive sign" that investors and "pioneering buyers" are willing to invest in many communities that were hit hard in the economic downturn.
Ten Hills ranked number four on the business newspaper's list, having seen a 9.4 percent increase in year-over-year home values.
Prospect Hill came in at number 10 on the list, with a 4.3 percent year-over-year increase in home values, but also with relatively high median home values.
Which three communities made it to the podium (to make a gratuitous Olympics reference)? Boston's West End took home the gold, Boston's Fenway/Longwood won the silver, and Lynn outpaced Ten Hills for the bronze.
