Tag: Boston condo sales volume

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Boston Sales And Prices Jump

A good year end analysis from Scott at Boston.com.

 

Boston sees condo prices, sales jump

From Back Bay and Beacon Hill to Dorchester and Southie, doube-digit price increases have been seen in several Boston neighborhoods.

By Scott Van Voorhis

Boston.com Correspondent

Boston’s red hot condo market is closing out the year with a bang, posting double-digit increases in prices and sales, the latest stats show.

The median condo price in Suffolk County, made up mostly of Boston, hit $580,000 in November after a 34 percent jump, finds real estate publisher and data firm, The Warren Group. Condo sales jumped 43 percent.

By contrast, the median home price in Boston and fellow Suffolk County communities of Chelsea, Winthrop and Revere, weighed in at $406,500 after a 3 percent increase.

Downtown Boston, including the South End, Back Bay, and Beacon Hill, led the condo price charge, with a 24 percent increase that pushed the median price to $974,000.

Jamaica Plain and South Boston both saw significant gains in condo prices in November, with prices year to date up nearly 11 percent ($445,000) in J.P. and 12 percent ($557,000) in Southie.

Dorchester and East Boston, which have been hubs of activity for new development as buyers get priced out of other neighborhoods like J.P. and the South End, also saw big gains.

Year-to-date through November, Dorchester’s median condo price has gone up 17 percent, to $344,060, while the median price of an Eastie condo rose 14 percent to $342,750.

Meanwhile, statewide, sales and prices of both condos and homes posted gains in November, posting significant gains with help from a relatively mild fall that helped keep buyers on the hunt and sellers in the game.

Sales of single-family homes across Massachusetts rose 8 percent, to 3,915 in November, reports the Massachusetts Association of Realtors (MAR).

The state’s median home price rose 4.5 percent to $330,000.

Condo sales rose 5 percent, while the median price of a condo posted a 10 percent increase, to $304,000.

“While most people in Massachusetts were focused on raking, getting ready for Thanksgiving and shopping in November, homebuyers stayed focused and once again push closed home sales up,” said 2015 MAR president Corinne Fitzgerald, broker-owner of FITZGERALD Real Estate in Greenfield, in a press release.

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B&T – July Is Best Month for Mass. Home Sales since 2005

Banker & Tradesman – July is Best Month for Mass. Home Sales since 2005, Grow 24.3 Percent Year-Over-Year

BOSTON, August 25, 2015 – The 7,077 single-family home sales in July signaled the best month for the Massachusetts real estate market since June 2005, according to a new report from The Warren Group, publisher of Banker & Tradesman.

By breaking 7,000 sales, July saw the market’s first return to that level in more than 10 years, since the 7,239 sales recorded in June 2005. The big month marked a 24.31 percent increase year-over-year from July 2014, which had 5,693 sales.MAsaleschartJuly15

The median sales price for single-family homes in July 2015 was $359,900, a 1.38 percent increase from July 2014’s median of $355,000. Year to date the median price has been $340,000, a 1.49 percent increase from last year’s mark of $335,000 through July.

“July’s numbers are the result of a very strong spring season and are an improvement over the sluggish start to the year,” said Cassidy Murphy, editorial director of The Warren Group. “A rough winter and pent-up demand turned into a strong spring that is a positive sign for the real estate market throughout the state.”

The condo sales market in July was also robust, seeing 2,794 sales, the most since August 2007. This month’s mark was a 20.07 percent increase from July 2014, which had 2,327. July 2015 supplanted last month as the best month in the eight-year stretch. There were 2,764 in June.

The median condo price in July was $337,500, up 3.85 percent from July 2014, when the median was $325,000. Year to date the median condo price has is $316,685, up .86 percent from $314,000 at this time last year.

Year to date Massachusetts has had 28,745 single-family home sales, a 6.52 percent increase from last year’s total through July of 26,985. There have been 12,132 condo sales through July, a 1.8 percent increase over last year’s year-to-date total of 11,917.

The Warren Group has recorded and tracked real estate transactions since 1872. The fourth-generation family-owned company uses its long-time leadership in Boston real estate and banking information to produce specialized reports and printed publications, including Banker & Tradesman and The Commercial Record.

With more than 140 years as a local business leader, The Warren Group has developed relationships with a variety of industry leaders and trade groups, including bankers, mortgage brokers, credit unions and lawyers. Working together with our partners, The Warren Group organizes trade shows and industry events, including The Bank Summit, coming in October.

For more information about The Warren Group, visit www.thewarrengroup.com.

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analytics general info trends

Why Prices Will Stay High

Good post by Scott about the effects of continued scarce inventory.

 

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Why home prices are likely to stay high

Boston.com Correspondent

Despite talk of the need for new housing, the number of building permits being issued across Massachusetts has yet to rebound to its pre-Great Recession peak.

Building permit slowdown

Developers took out just 1,051 building permits for single-family homes during the first three months of the year, U.S. Census Bureau stats show.

That represents a 16 percent drop from the same period in 2014 and a 65 percent drop from early 2006, when the real estate market was last in boom mode.

New apartment and condo construction is doing somewhat better. Developers took out permits for 2,370 new units, or roughly double the number of single-family homes, according to Census stats.

Yet the number of total housing units is still 33 percent below where it was back in the early months of 2006.

Tough regulations

And the shortage of listings on the market has been widely blamed for pushing up home and condo prices as demand exceeds supply.

“In theory, 2014 should have been better than 2013, but it wasn’t,” said Jeff Rhuda, director of business development at Symes, a home builder in the North Shore. “In theory, you have a recovering economy, but I think 2015 will end up below 2014.”

Tough regulations in towns and neighborhoods across the Boston area are one reason for the slow recovery in housing construction, especially as it relates to single-family homes, builders contend.

“It is going to get worse.” – Jeff Rhuda, director of business development at Symes

It is also especially hard to build new single-family homes within the Route 128 beltway, where the biotech and tech sectors are booming and demand for new homes is the strongest.

A dearth of developable land combined with local restrictions has resulted in a steady decline in home building in the communities closest to Boston.

In fact, teardowns are now the only source of new homes in upscale communities like Needham, Newton, Wellesley, and Weston.

And with no major game changer in the works in terms of efforts to force local communities to open their doors to more housing, the number of homes being built in the Boston area is likely to only continue to fall, Rhuda contends.

“It is going to get worse,” he said.

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Low Interest Rates Continue – For Now!

 

Interesting post from Scott at Boston.com. The rate rise consensus has swung back and forth.  Rates will rise …rates will stay low.  Rates are staying low in the short term with increases likely in the long term. How’s that for hedging my bets?

 

How Long Will Low Interest Rates Continue to Help Buyers?

Gallery 1

After a disappointing federal jobs market report at the beginning of April, interest rates actually dipped again, skirting historic lows.

 

By Scott Van Voorhis

Boston.com Correspondent

Even in the super expensive Boston area, rising prices may be not necessarily be the biggest threat to buyers in finding a home they can afford.

Instead, an equal or even greater threat over the next few years may be the likelihood that the low-interest-rate gravy train will finally come to an end, experts say.

Overall, low interest rates have kept mortgage payments low, even as prices in a number of hot Boston-area neighborhoods and suburbs have blown past their price records of a decade ago, real estate stats show.

After a disappointing federal jobs market report at the beginning of April, interest rates actually dipped again, skirting historic lows.

Yet with the Federal Reserve having already signaled its plans to consider boosting the federal funds rate by as early as this summer, the writing is on the wall, said Svenja Gudell, Zillow’s senior director of economic research.

That, in turn, could have major implications for home prices and affordability, here and across the country.

“I don’t think this is the trend,” Gudell said of the recent interest rate dip. “We will see mortgage rates pick up in the long run.”

So how much of a difference do those killer low rates make when buying a house?

The prime rate on a 30-year-mortgage, as of April 9, was 3.66 percent, according to federal mortgage giant Freddie Mac, which surveys banks around the country.

If you took out a $500,000 mortgage to buy a three-bedroom house in Waltham, your monthly payments, at that rate, would amount to $2,290, according to Bankrate’s mortgage calculator.

Now let’s boost the interest rate to 6 or 7 percent. These are rates that were common on mortgages back in the 2000s and were not considered particularly high, either.

At 6 percent, the monthly payment on that Waltham house increases to $2,997 – a 30.8 percent increase.

Boost the rate up another point to 7 percent and the monthly payment jumps again, to $3,326, or a 45 percent increase.

As rates rise, buyers, already scrambling to keep up with rising prices could find themselves with diminishing buying power, at least for a time, anyway.

What happens after that will depend on what prices wind up doing.

In theory, as interest rates rise, sellers will eventually be forced to lower their prices or wind up missing the mark with buyers.

“As rates move, we will see some top down pressure on prices, especially in areas where housing is really too expensive,” said Gudell, the Zillow economist, pointing to Boston, San Francisco, and other high-priced markets.

Still, she doesn’t see rising rates triggering a housing crash, either.

There will be time for the market – and buyers and sellers – to adjust as well, Gudell believes. Rates won’t soar overnight, but are more likely to slowly edge up over time.

“I think the increase will be a gradual one,” she said. “At the end of this year, we will already start to see higher mortgage rates, but we are not going to see rates increase to 4.5 percent or 5 percent right away.”

 

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Boston’s Record Breaking Development

Great post by Scott at Boston.com

The Numbers Behind Boston’s Record-Breaking Year in Development

Gallery 1

Construction around Boston is in high gear (Pictured here: Milllennium Tower in Downtown Crossing).

By Scott Van Voorhis

Boston.com Correspondent

March 31, 2015 2:53 PM

Boston’s building boom is poised to shift into overdrive over the next few months as two big new tower projects come up for approval at City Hall.

A revised proposal to replace a four-story garage next to the TD Garden with a 46-story residential tower is working its way through the Boston Redevelopment Authority’s vetting process, said Brian Golden, director of the Boston Redevelopment Authority.

And the first of four towers that will replace the Government Center garage eyesore is also moving towards a final approval vote by the BRA’s board, Golden noted.

The progress on the big projects is the latest sign that the handoff of Boston’s development boom to Mayor Marty Walsh has apparently come off without a hitch.

During Walsh’s first year in office in 2014, the Boston Redevelopment Authority gave a green light to 62 projects across the city totaling more than $3 billion.

So far in 2015, City Hall’s development arm has approved another 16 projects, totaling more than $677 million, according to numbers complied by the agency.

“It quite literally has been one of the most active periods for building in Boston’s history.”

All told, 20 million square feet of new development has been green-lit by City Hall over the last few years but have yet to break ground, representing dozens of projects that are coming soon, according to BRA officials.

“That presents a very promising picture about all the projects that are in the pipeline and that will bear fruit in the coming two or three years,” Golden said.

Meanwhile, the amount of new office, lab, residential, and retail space currently under construction has also grown dramatically.

That number has nearly quadrupled to 15.6 million square feet, up from 4.5 million in 2012, according to Nicholas Martin, the BRA’s spokesman.

Projects that have won the blessing of city officials this year include the $290 million Fenway condo and apartment tower, The Point, and an $85 million plan to transform the Chain Forge Building in the Charlestown Navy Yard into a hotel.

“It quite literally has been one of the most active periods for building in Boston’s history,” Martin said.

The numbers also include thousands of new homes, condos, and apartments, with Walsh, like the late Mayor Thomas M. Menino before him, having pledged to make new housing a top priority.

Overall, the Walsh Administration has racked up numbers during its first 15 months in office that appear to match up favorably with Menino’s record — no small matter given Boston’s longest serving mayor’s intense focus on development issues in the city.

Under Walsh, the BRA signed off on plans for 4,158 residential units in 2014, rising to a total of 5,100 if the first three months of 2015 are included.

By comparison, City Hall’s development arm approved 3,898 residential units in 2012 when Menino was mayor. The $3.4 billion in overall development OK’d by the agency that year was on par with the $3 billion under Walsh’s first year.

Behind Boston’s development boom is a diverse economy that is spinning off jobs in a range of sectors, including high-tech, life sciences, and financial services, real estate experts say.

The Hub’s residential, hotel, retail, and office markets are some of the most highly rated in the country when it comes to interest by real estate developers, a new survey by PwC and the Urban Land Institute finds.

There is also pent up demand for new housing amid steady growth in Boston’s population as an eclectic mix of millennials, young families, and empty nesters rediscover urban living.

The big numbers should put to rest early concerns expressed by some in the business community that Walsh might slow down the pace of development in Boston, notes David Begelfer, chief executive of NAIOP Massachusetts, a trade group that represents developers from across the state.

“Things have been moving along,” Begelfer said. “Boston is in boom time right now and it’s not a bubble but a real boom. It is very rational development.”

 

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Sales Rise In Suburbs – Slow Down In Boston

Interesting dynamics in the Boston and metro Boston markets – from Scott at Boston.com.

Sales rise in suburbs, slow down in Boston.

By Scott Van Voorhis

Boston.com Correspondent

 

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Towns and neighborhoods across the Boston area posted big gains in both sales and prices in February, defying a winter that broke snowfall records and left many businesses reeling.

The suburbs led the way. Several communities are actually ahead of last year’s pace when it comes to home sales, according to numbers released by The Warren Group, publisher of Banker & Tradesman.

Cambridge proved as desirable as ever, with both condo and home sales rising markedly, as the median price of a house in the city hit $1.3 million.

Boston was more of a mixed bag; some neighborhoods posted strong numbers, but others all but fell off the map.

Overall, home sales across Massachusetts rose 4 percent in February, with the median single-family home price for the first two months of the year increasing 5 percent to $316,000, according to The Warren Group.

Condo prices rose 1.5 percent to $294,250, even as sales fell by 6 percent.

The Warren numbers, of course, only tell part of the picture, as some represent sales that were initially inked late last year, or in January of this year (before the storms) but which finally closed in February.

“The continued, sustained snowfall has been an incredible challenge for the region’s housing market,” said Dan Breault, EVP/regional director of RE/MAX of New England in a press statement. “Fortunately, spring is just around the corner and with low inventory and rising prices, we anticipate a busy spring season.”

Still, Greater Boston homebuyers proved to be a hardy bunch.

The western suburbs held up especially well, according to The Warren Group’s February housing report.

Framingham, Marlborough, Natick, Franklin, Medfield, Wayland, Lexington, Concord, Wellesley, and Weston all put in strong showings in February.

Sales so far this year are up by double digits in Framingham (20 percent), Franklin (118 percent), Concord (54 percent), Lexington (14 percent), Natick (15 percent), Wellesley (26 percent), and Needham (18 percent).

The dire cold may have made buyers stingier, as selling prices were down in a number of towns. Notable exceptions included Needham, whose median home price soared past $1 million after a 33 percent jump; Lexington, where the median price hit $875,000 after a 7.4 percent increase; and Natick and Framingham, which saw prices go up by 6 percent.

Quincy and Braintree were the stars on the South Shore, with sales for the first two months of the year rising 28 percent and 15 percent respectively. Median prices in both cities stayed just about even, at $360,000 for Quincy and $356,000 for Braintree.

North of Boston, Medford is off to a particularly fast start in 2015, with sales up 6 percent and median price up more than 10 percent, to $440,000. Sales in Reading are up 80 percent, though the median price fell 9 percent to $438,000.

But for Boston and Somerville, the latest home sales numbers for the first two months of the year had more downs than ups.

Somerville home sales plunged 36 percent, with just seven properties changing hands so far this year, while condo sales were down 14 percent. The median price of a condo dropped 6 percent, to $422,000.

In Boston, both condo and home sales were down in several neighborhoods.

South Boston saw home sales rise by a quarter, even as condo sales fell by 10 percent, while Jamaica Plain saw condo sales plunge by 25 percent, even as the median price rose nearly 20 percent to $426,500.

East Boston put in one of the strongest showings in the city, with condo sales up 46 percent for the year and the median price rising 10 percent to $385,000.

Downtown Boston saw condo sales drop by a quarter through the end of February, while the median price edged down 14 percent to $757,500.

Neda Vander Stoep, a broker in the Back Bay office of Coldwell Banker Residential Brokerage. “However, with inventory remaining low and plenty of buyers on the sidelines, properties that came on during the February storms were nonetheless quick to sell.”

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Buyers Brave Snow Banks

Buyers Brave Snow Banks and Cold to Find a Home in Greater Boston

Buyers are braving snowy streets and clambering up slippery steps to look at the relative handful of homes on the market right now, brokers say.
Buyers are braving snowy streets and clambering up slippery steps to look at the relative handful of homes on the market right now, brokers say.

AP

 

By Scott Van Voorhis
Boston.com Correspondent |

The Alaskan-style winter that has swallowed Greater Boston threatens to deep freeze spring home sales as well.

Droves of buyers are braving snowy streets and clambering up slippery steps to look at the relative handful of homes on the market right now, brokers say.

But sellers who have been gearing up, in some cases for months, to put their homes on the market in March, are now looking to April or even May, according to listing agents.

The one upside is that when the spring market finally takes off, it is expected to sizzle, with frenetic sales activity extending well into the summer – a time when the market typically takes a breather.

“It’s going to go crazy,” said Deborah Heffernan, broker and co-owner of Avenue 3 Real Estate in Arlington, of the projected warmer months. “I have had a number of people who have held back listing their homes because it is physically too challenging. They are dealing with ice dams and you can’t even see outside the property.”

Massachusetts sales dropped 2 percent in January after rising through the fall and holiday season, with a 10 percent jump in sales in December amid a chilly but snow-free month, according to The Warren Group, publisher of Banker & Tradesman.

The onset of heavy snow and arctic cold was a key factor, and one that will likely result in another drop in sales for February when those numbers are released in late March.

Buyers have proved to be especially hardy this winter. The few open houses that haven’t been canceled due to epic storms of the last few months regularly have attracted crowds, brokers say.

Redfin’s Nancy McLaughin, listing specialist for the western suburbs, said she was stunned to see an overflow crowd show up at an open house she was putting on in Framingham on a recent snowy Sunday.

“We had 30 people in 90 minutes,” she recalled. “They were traipsing through the snow with the most determined looks on their faces.”

Some sellers are also showing similar grit amid an unrelenting winter that has already broken local records for snowfall.

Hans Brings, an agent at Coldwell Banker Residential Brokerage, said he is working with sellers in Waltham who were so determined to push forward with their open house that they decided to take municipal snow clearance into their own hands.

The couple, after digging out their driveway, went to work shoveling out the entire street, trying to widen it enough for buyers to drive down without getting stuck, according to Brings.

Streets effectively turned into one-lane roads by towering snow banks on both sides have been a major problem for buyers trying to get out and see homes, Brings noted.

But many other sellers are deciding to put off listing their homes until the snow melts.

McLaughlin said she has had to push out one listing into April as the sellers scramble to deal with water damage caused by ice dams on the roof.

The same thing is happening in Boston as well, said Neda Vander Stoep, an agent in the Back Bay office of Coldwell Banker Residential Brokerage.

“Many sellers are holding off on listing their properties with the hopes that it will be easier for all to navigate the city as the temps hopefully begin to rise,” she wrote in an email.

In Arlington, Heffernan said she has had clients who were ready to put their homes on the market on April and are now looking to May instead.

Sellers are concerned that buyers simply won’t be able to get a full feel of their homes and what they look like, she said.

One would-be seller in Boston decided to delay for similar reasons, noting buyers wouldn’t be able to see the deck out back, a potential selling point.

“You can’t see the foundations of the house let alone the flowers in the yard,” Heffernan said.

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Micro Units

Love these micro units in Boston. Small spaces can be efficient and comfortable…we dont call them micro units here in Provincetown – we call them charming and authentic Cape Cod cottages.

Five Newer Greater Boston Buildings with Micro-Apartments

Tuesday, February 24, 2015, by Tom Acitelli

Micro-apartments have been popping up by the dozens in Greater Boston in the last few years, going by such aliases as innovation units and micro-lofts. However you dub these roses and where you plant them, they smell generally the same rent-wise: that is, they’re comparable, if not more expensive than, studios and even 1-BRs of similar age and size. Still, micro-apartments! From the Seaport District to East Cambridge, they’re the trend that won’t die. And we’ve got the five buildings in the region with sizable amounts of ’em. Let’s start with one opening in a matter of weeks.

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100 Pier 4
The 359-unit development, part of a much larger project in the Seaport District, includes 50 innovation units spread over two floors. Above is a 3D rendering of a 460-square-foot studio asking $2,574 a month. The complex opens next month.

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[Rendering via Elkus Manfredi]

One Seaport Square
The 832-unit Seaport District behemoth, which includes both the Benjamin and VIA towers (and a ton of retail space), officially broke ground in November. Some of its 96 innovation units, which will be concentrated in the VIA spire, are due to be as small as 365 square feet. The rents for these are not yet clear.
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[Photo via Bargmann Hendrie + Archetype Inc.]

Factory 63
This 38-unit conversion of an old Fort Point shoe factory dropped in early 2013, and its apartments quickly leased up, including 23 innovation units. Some of these were asking well north of $2,000 a month.
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315 on A
Another Fort Point creation, 315 on A held its grand opening in January 2014. It included studios as small as 464 square feet renting for well over $2K a month. It also fostered the concept of 20-Minute Living,which you can’t put a price tag on.
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Avalon North Point Lofts
The 103-unit East Cambridge complex carved from an old hot-dog factory (yup) opened in late 2014, and includes what are called micro-lofts. The available 450-square-foot ones now ask at least $2,285 a month.

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Four Seasons Pricing – Boston

Interesting post by Scott.

Four Seasons Pricing

 

The Four Seasons tower (shown in the center) will open in 2017.

The Four Seasons tower (shown in the center) will open in 2017.

Cambridge Seven Associates

By Scott Van Voorhis

 

Boston.com Correspondent |

 

Condos selling for more than $20 or even $30 million are poised to become the new normal in downtown Boston’s condo market as a bevy of uber luxury towers takes shape on the skyline, experts say.

Leading the pack is likely to be the new Four Seasons Tower, which could see its three, gold-plated penthouses on its 61st floor each fetch upwards of $20 million, according to preliminary price estimates.

That means the Back Bay tower’s top floor may reap a total of $60 million to $70 million in sales. That figure would dwarf the $37.5 million that the 60-story Millennium Tower — now under construction in Downtown Crossing — is seeking for its top floor penthouse suite.

Construction recently kicked off on the $750 million Four Seasons tower taking shape near the Christian Science Plaza, with an opening day pegged for 2017. It will be Boston’s tallest residential building.

“This is absolutely like nothing Boston has ever seen before,” said downtown Boston broker Tracy Campion, whose Campion & Co. is selling the Four Seasons condos. “I am absolutely sure they will set records.”

So what exactly will it cost to buy one of the two-story penthouses that will crown the new tower?

Campion declined to offer up an official pricetag but indicated that a “ballpark” estimate of $3,000 per square foot was not off the mark.

Other brokers not connected with the new tower offered similar price estimates for the Four Season condos of roughly $2,500 to $3,000 a square foot.

With each unit offering 8,000 square feet of living space atop Boston, that would put the penthouses in the $24 million range.

That’s practically double the previous price record set by a condo at the posh Mandarin Oriental, also in the Back Bay, which fetched $13 million.

The Four Seasons penthouses will have a number of features — for instance, a “huge” staircase, an elevator that opens into the unit, 14-foot high ceilings — that will likely make them a hot item, especially among the deep-pocketed international investors who have begun to flood the Boston market.

And while the prices are likely to come as a shock to the Boston area, jet-setting buyers used to stratospheric New York and London values are not likely to bat an eyebrow, brokers say.

In fact, $2,300 to $3,300 a square foot is simply considered “luxury” in the New York market, with “uber luxury” in the Big Apple now priced at $5,000 a square foot, according to Otis & Ahearn, a downtown Boston luxury condo marketing and brokerage firm.

“We are not used to those numbers but those are numbers we are going to start to see,” notes David Crowley, director of sales and marketing at Raveis Marketing Group. “They are building these properties to appeal not necessarily to a local market, but to international buyers and investors.”

“International tastes are driving a lot of the finishes, layouts and amenities,” Crowley added.

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general info trends

Southie Leads Development Boom

Another great post by Scott.

 

Southie Leads Boston’s Development

 

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Flickr Creative Commons

 

By Scott Van Voorhis

 

 

 

Boston.com Correspondent |

Sure, Back Bay and Downtown Crossing may have all the new towers, but when it comes to overall development activity, South Boston is arguably the epicenter of the city’s development boom.

Southie currently has 42 projects either in the planning or approval stage, under construction, or recently opened. Most feature or include new apartment rentals, townhomes, or condos, according to the Boston Redevelopment Authority’s map of the Hub’s development scene.

The developments range from converted churches to brand spanking new buildings. The luxury West Square development at 320 D Street, which is still under construction, includes 259 apartments and 143 parking spaces.

If you throw in another 22 projects happening in the South Boston Waterfront, including the multibillion-dollar Seaport Square development , the number rises to 64 – three times or more than any other city neighborhood.

Not that super hot neighborhoods like the Back Bay (11 projects) and South End (19 projects), are any slouches either.

Back Bay and neighboring Downtown include plans for the three poshest and tallest towers even built in Boston: one still in the planning in Copley Square, and construction underway at the 61-story Four Seasons Tower and the 60-storyMillennium Tower.

“There has been a big shift in our city,” said Tracy Campion of Campion & Co., the brokerage in charge of the building’s sales. “Back Bay and Beacon Hill are bursting out of their seams.”

Other neighborhoods are also seeing a big surge in development.

East Boston may now be one of the hottest new neighborhoods in terms of big projects outside of South Boston.

A trio of grand waterfront developments is in the works for the neighborhood’s once hardscrabble waterfront, including 400 new apartments and condos at Clippership Wharf.

Charlestown’s real estate market heated up a couple decades ago, much like Eastie’s is doing now. The Charlestown boom continues, with plans for 85 new residential units and public space on the first floor at Pier 5.

Fenway is another neighborhood in the middle of a dramatic transformation, from a gritty student alcove to one of the more exciting places to live in the city.

With building sites scarce in the densely packed neighborhood, developers are pushing to span the Massachusetts Turnpike with ambitious air-rights projects.

Developer John Rosenthal is lining up financing for Fenway Center , a $550 million apartment and retail project proposed for an air-rights platform over the Massachusetts Turnpike by Fenway. Plans for Parcel 7 air-rights include a seven-story residential building and a 22-story residential and office tower.

Near the Hynes Convention Center and the Berklee College of Music, New York-based Peebles Corp. is pushing plans for a $330 million air-rights project at Parcel 13, including 88 condos, a hotel and shops.

Often overlooked, Dorchester now has 20 major projects in the works, including a proposal for for 275 residential units and 143 parking spaces at 25 Morrissey Boulevard by the JFK/UMass T station, while St. Kevin’s redevelopment, now underway, features 80 affordable units.

Brighton has 21, including 1505 Commonwealth Ave., a proposal to convert an office building into 85 residential units. Allston’s 15 projects include a new proposal for 87 apartments, ground floor retail, and 66 parking spaces at 37-43 North Beacon Street.

Meanwhile, Roxbury has 20 big projects in the pipeline, a number that includes 102 residential units in two buildings in the first phase of Bartlett Place , along with 16,839 square feet of commercial space and a garage with 130 spaces. When the build out is complete, the entire development will have 323 residences.

Last but not least, Jamaica Plain has 16 new projects, including The Commons at Forest Hills Station, which calls for 283 new residential units at the former Hughes Oil site. Demolition work began last fall.