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Brighton Investment Properties

Brighton, situated in the northwest corner of Boston on the south side of the Charles River, was one of the earliest developed areas of Boston. First known as Little Cambridge, it became part of the city in 1874. The pedestrian-friendly central business district is also a Main Street district, home to many small businesses and restaurants. It includes Oak Square, a popular shopping area along Washington Street. St. Elizabeth's Hospital, Boston College and WGBH give a well-rounded feel to this established neighborhood.

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Brighton Residential Investments

The Brighton neighborhood includes several smaller enclaves such as Cleveland Circle. Housing includes wooden triple-deckers, upscale condominiums and single-family homes. New multi-use developments like Brighton Landing and 375 Market Street add much-needed parking, residential and retail space to the neighborhood.

The median home value for Brighton was $340,300 at the end of March 2015, an increase of 5.9 percent over a one-year period. The median sales price per square foot at the end of 2014 was $416. Zillow predicts an increase in home values of 4 percent for 2016. Values along the Washington Street corridor are higher.

As of the end of March 2015, the median rental rate in Brighton was $2,045, lower than Boston's median rate of $2,485.

Choosing the Right Brighton Investment Property

In choosing a residential investment property that works with your investment strategy, annual net income, rents and expenses must be taken into account. Factors such as foreclosures can affect values of nearby homes. Brighton's foreclosure rate of .08 per 10,000 is lower than Boston's of 1.2 and the nationwide rate of 3.9. The Allston-Brighton area has one of the lowest homeownership rates in the city at 21 percent.

Our licensed real estate professionals at Boston City Properties can help you select properties that work with your budget and long-term investment goals. We maintain a current list of pre-construction and new apartments with details about floorplans, parking and amenities. Our marketing services use a range of channels to showcase residential properties. Call 617-247-1933 to speak to one of our agents about current listings in Brighton.

Brighton Real Estate Market 2017

The market trends in Brighton indicate an increase in average home sales over the past year with a five percent jump to $22,938. The median price for every square foot has also increased from $554 to $563. Let us explore some areas in Brighton:

Meanwhile, the sales prices are different though Washington Street still bags the top place with $1.275 million. Commonwealth Avenue has a median of $337,725 sales price while Foster Street has a median sales price of $328,500.

Overall, the median sales price in Brighton is as follows:

Brighton was experiencing some more increases as the sales price went up for three months from $450,000 to $471,000.

Sales were indeed high when 2017 opened but the number of homebuyers increased even more in July, which is this year’s highest.

As for the median rent, the rents from March to May this year were steady, although there were a little bit of changes from $2,400 to $2,375. July was also the month when the rents were the highest with $2,700. The price remained the same until August.

The home value index is 9.3% higher than last year as it is now $429,000. The market temperature is still warm, although it is leaning toward the sellers in the area. It is predicted that the home values will continue to increase 3.7% over the next few months.

Compared to the list price per square foot, Brighton is lower than the average in Boston, which is $675. However, things are looking really bright in Brighton as the median price of homes that are listed in the neighborhood is $515,000. As for the median price of homes sold, it is $447,749. The average rent price in the area is currently at $2,100. It is lower than the Boston median, which is over $2,600.

Changes in Brighton

Perhaps the biggest change that happened this year is the headquarters that has finished construction. It is such a huge difference, especially if you are driving home from work and you pass by the stately brownstones of Back Bay. You will soon see an enormously dazzling construction made of glass and steel, as if you just entered a sci-fi movie. It is like an intergalactic shop docked next to the highway.

The futuristic building is actually the headquarters of New Balance and it opened back in 2015. However, even if it has been two years, it is one of the developments in Brighton that has garnered so much attention. Before the construction of the HQ, the area was once an ordinary distribution center but was soon transformed into a thriving center of residences and local businesses.

Another development is the Bigelow Court. While it was built in 2006, it is still one of the highly desirable condominiums in Brighton. A bonus is that it is located in the historic Oak Square. The building has 26 townhouses, along with some loft condos where residents can easily access several hotspots, including Newton Corner, St. Elizabeth’s Hospital, Cambridge Street, and Mass Pike.

The Chestnut Hill Gardens is located in Chestnut Hill Avenue and it features lofts that were transformed from their original 1930s warehouse versions. The building contains a total of 36 townhomes in the style of a loft. They are situated on the Brookline border, which provides easy access to the Cleveland Circle, Washington Square, and the Brighton Center.

The developments do not stop here as the apartment project, which is near the New Balance headquarters gained approval in 2016. It will consist of 295 apartment units, which will stand on the Boston Landing site. This particular project had tried to get the nod for years, but it was only in December 2015 when the developers filed plans for it and submitted to the city officials.

Boston Landing will have many new developments coming soon, including a practice facility for the Boston Bruins. There will also be a sports center that comes with a track, a commuter rail station, more retail outlets and office buddings, and a hotel. Residents can also expect to see more apartments that will be open to bring in more residents to the area.

The 295-unit apartment will be at 125 Guest Street and will consist of one studio, along with one to three bedroom units. It will also have a total of 155 parking spaces. The residents will also be given 300 bicycle spaces and storage onsite. The ground floor of the building will have amenities, such as the lobby, fitness room, mail room, and a conference room. It will consist of 16,000 square feet of retail space.

Brighton as One of the Hottest Neighborhoods

A report showed that Brighton (including Allston) is one of the hottest urban neighborhoods in the entire United States. The list consisted of 19 other communities in the US, which were all ranked based on several different criteria. These categories included public transit, walkability, cost, entertainment, and 14 others. Brighton scored high in both public transit and walkability.

Brighton is also considered one of the 25 hottest rental neighborhoods in the country. It is filled with millenials and has many young professionals. Additionally, some of the houses that were up for sale in the neighborhood sold really fast. One example is the property at 145 Arlington Street. It featured seven rooms with a total of 1,320 square feet and came with a finished basement. The buyer has the choice to transform the basement into a bedroom suite. It was up for sale in August and had a deal in just eight days. A landscaped yard was also one of the best features of the place, which was bought for $699,000.

Brighton’s flourishing real estate market is expected to become even stronger in the coming years. With 2018 approaching, the neighborhood is set to meet these expectations.

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