Developments in Fenway, North Station and the Seaport are ramping up and so too are the home values.

Thanks to help from our friends at Zillow, BostInno has been able to catch a glimpse of the housing market in three of Boston’s up-and-coming neighborhoods. While the projections don’t indicate specific property vales, Zillow was able to forecast the projected changes in Home Value Index (ZHVI) based on the neighborhoods’ — Fenway, North Station, and the Seaport — zip codes.

Here’s the forecast:

Fenway

  • August 2013 ZHVI – $380,600
  • August 2014 – $401,953
  • 5.6 percent increase

North Station/Beacon Hill

  • August 2013 – $514,700
  • August 2014 – $537,156
  • 4.4 percent increase

Seaport

  • August 2013 – $670,800
  • August 2014 – $699,099
  • 4.2 percent increase

Based on Zillow’s projections, Fenway is currently set for the greatest increase in property value — a stat that could be skewed due to the lower 2013 HVI.

How do these compare in a larger context?

The following indicates the HVI across the country, Massachusetts, the Boston Metro area, and the City, itself.

United States

  • August 2013 – $162,100
  • August 2014 – $170,500
  • 5.2 percent increase

Massachusetts

  • August 2013 – $305,800
  • August 2014 – $314,978
  • 3 percent increase

Boston Metro

  • August 2013- $341,200
  • August 2014- $354,981
  • 4 percent increase

The City

  • August 2013 – $396,800
  • August 2014 – $415,195
  • 4.6 percent increase

“As you can see,” said Zillow’s Cory Hopkins over email, “all three neighborhoods are expected to show strong appreciation in the next year. The Fenway neighborhood is expected to outpace the rest of the country by a small margin. All three will outpace Mass. overall and the larger Boston metro, and are roughly on pace with the city of Boston proper.”

 

 

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