Back Bay is without a doubt one of Boston’s most coveted neighborhoods. With classic brownstone architecture, world-class shopping, a plethora of dining options, and easy highway access, it’s no wonder that demand for Back Bay condos and apartments is consistently so high.
Strolling along the Commonwealth Avenue Mall and Newbury Street, it’s hard to imagine Back Bay was once under water. Originally a tidal bay, the area was filled in during the 1800s to create more land for housing. Today, Back Bay’s streets are lined with upscale shops and restaurants all leading down to the Public Garden’s edge. Newbury Street offers block after block of Boston’s best shops & cafes and fine restaurants.
With all of these amenities, you will never want to leave your home in Back Bay. But if you do, you can reach your destination via public transportation, car, or foot. Back Bay offers three Green Line subway stops, as well as Orange Line and Commuter Rail access at Back Bay Station. You can also hop on Storrow Drive or the MassPike, both with entrances in the neighborhood. Huntington Avenue will take you to points west. The Financial District is a roughly twenty minute walk, and Fenway is about 10-15 minutes away.
Though Q1 is typically the slowest selling season in Back Bay due to seasonality, Q2 2020 saw the total number of closings continue to fall due to the COVID-19 pandemic. With a 46% decline in total units closed compared to Q2 2019, Back Bay’s market was dramatically impacted due to its high average price point; buyers who can afford to be elsewhere in the summer months were not in the city shopping.
One contributor to the decline in total number of closing from Q2 2019 versus Q2 2020 is One Dalton
One Dalton had its first five closings in May and June of 2019, which initiated a spike in the number of closings in Back Bay through the end of 2019. Due to COVID-19, however, these closings have since slowed down. In Q2 2020, One Dalton averaged one closing per month (3 total)
The Clarendon (located at 400 Stuart Street) had three closings in Q2 2020 as well for $2,085,000 , $2,950,000, and $5,400,000, showing that, despite the pandemic, there is still some demand for luxury high-rise product