Priciest city neighborhoods
Yesterday's post highlighted the most expensive ZIP codes in the metro area. But what, you asked, about city neighborhoods? (Some of you asked more nicely than others. Sheesh, folks, you can catch more flies with honey than vinegar. Not, er, that I'm comparing myself to a fly.)
As it happens, I had a city Top 10 all ready to go. So you would have received even if you hadn't asked, but it's nice to know you're chomping at the bit.
Today's story about expensive places has a map showing the five most expensive city neighborhoods on top of the 10 priciest ZIPs. But hey -- I'll throw in five more at no extra charge.
Without further ado, the most expensive Baltimore neighborhoods, ranked by average sale price in the first half of the year:
1. Homeland. Average price: $549,900. (Number of homes sold: 13.)
2. Roland Park. Average price: $487,300. (Number of homes sold: 17.)
3. Guilford. Average price: $471,200. (Number of homes sold: 16.)
4. Inner Harbor. Average price: $423,800. (Number of homes sold: 16.)
5. Otterbein. Average price: $361,700. (Number of homes sold: 10.)
Read on for the rest of the top 10:
6. Federal Hill. Average price: $323,900. (Number of homes sold: 25.)
7. Mount Washington. Average price: $313,300. (Number of homes sold: 15.)
8. Locust Point. Average price: $298,400. (Number of homes sold: 29.)
9. Bolton Hill. Average price: $293,900. (Number of homes sold: 28.)
10. Fells Point. Average price: $291,500. (Number of homes sold: 23.)
The rankings are based on neighborhoods with at least five sales. Averages are rounded. Shipping and handling not included. (Sorry, got on a disclaimer roll there.)
Like the ZIPs, I crunched these figures using sales reported to Metropolitan Regional Information Systems. Unlike the ZIPs, these sales had to be geocoded first so we could determine which neighborhoods they were in. (Just because a home is advertised as "Federal Hill" doesn't mean it actually is in Federal Hill.) Sun cartographer Christine Schoenberg did that time-consuming mapping work -- thanks Chris!
Now, the figures are sales averages. That means these (or other) neighborhoods might -- in fact, almost certainly did -- have pricier homes that were sitting on the market in the first half of the year, not contributing to the average because they weren't selling.
Other gee-whiz stats:
Four of the neighborhoods had at least one home sell for $1 million or more -- Homeland, Guilford, the Inner Harbor and Fells Point.
Home sales rose in half the neighborhoods vs. the first six months of last year -- Guilford, the Inner Harbor, Locust Point, Bolton Hill and Fells Point. Sales in Bolton Hill increased by 150 percent.
Each of the 10 neighborhoods had at least one home that sold for less than $230,000 -- a lot less, in some cases. Livable as-is or shells in need of a full rehab? That I can't say.
Any neighborhoods you expected to see in the top 10 but didn't? (Canton, in case you're wondering, was No. 19 at $239,100 -- an average price that was 17 percent lower than a year earlier.)