Savin Hill sees record-breaking home prices, thanks mostly to one development
It’s rare that every unit in a complex would break price records, but a new set of town houses in Savin Hill is on track to do just that, according to its broker.
It’s rare that every unit in a complex would break price records, but a new set of town houses in Savin Hill is on track to do just that, according to its broker.
The eight units lining Grampian Way were developed by The Georges Company in the “Over the Bridge’’ neighborhood of Savin Hill. Seven of them have sold for prices in the high six digits so far, enough to put them at the top of the “most expensive’’ list in the relatively small Savin Hill district.
There are two units in each of four buildings. The units have three living levels with four bedrooms, 2.5 bathrooms, and over 2,000 square feet of living space. Each is outfitted with hardwood flooring, stainless steel appliances and central air.
According to Michael Welsh, broker and owner of The Welsh Group, “Every one of the townhomes broke the record for both condo and single-family sales in Savin Hill’s history.’’
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Take a look at the home on Grampian Way:
36 Grampian Way is the current leader of the pack, with a sale price of $875,000. When that unit sold, the previous highest sale was $709,000 for 207 Savin Hill Ave. Another home outside the Grampian Way complex sold for $725, 000 on August 6. But property records show at least four of the Grampian town houses beat that mark as well.
The unit left for sale, 30 Grampian Way, is listed at $769,000.
The neighborhood is clearly getting more expensive, and Welsh seems to think it is because people are realizing they want more space for their buck.
“The fact [is] that people are outgrowing Boston and looking for more space, [but] want to stay in the city,’’ Welsh said.
Town houses at Savin Heights each have two parking spaces, a large shared yard in the back, a covered porch in the front, and a side deck.
“Many buyers view Savin Hill as an excellent alternative to South Boston because it has larger homes, more open space, and easy access to downtown Boston by the Red Line – all at a lower price point,’’ Welsh said. “This combination will make it a draw for buyers and developers over the coming years, and I expect that many of the large beautiful homes will continue to be renovated and upgraded. This will continue to put upward pressure on prices until they come closer to parity with Southie.’’
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