Earlier quoted context omitted.
FWIW I was comparing like for like in both cities. I compared Back Bay new construction to SoMA new construction. Fact is, your money does go further in SF. It isn't intuitive because most of the housing stock in Boston is old, cramped, or needs significant repair...or all 3. But that doesn't come across when you compare aggregate sqft prices, it just looks like Boston is cheaper.
> FWIW I was comparing like for like in both cities. I compared Back Bay new construction to SoMA new construction. Back Bay is the most expensive neighborhood in Boston. If you want to compare to SF, then SoMA is probably not the appropriate neighborhood. There are several neighborhoods in SF that cost multiples of Back Bay. * Back Bay: $863,200 * Pacific Heights: $1,877,500 * Noe Valley: $1,652,100 * Russian Hill:…
I'll point out to things I take issue with your analysis:
1) The neighborhoods you are using to illustrate your point are tiny
2) I'll entertain this though. Looking at all properties currently for sale on redfin in Presidio Heights and comparing the per square foot price to Back Bay, they are about the same. In fact, the outliers are way more expensive in Boston. The most expensive in BB is $8.7M and gets you 2700 sqft. The most expensive in Presidio Heights is $11M and gets you 7000 sqft! For 25% more money you get 160% more living space in a private home with private outdoor space. This isn't a phenomenon isolated to the most expensive neighborhoods either. I used Back Bay and SoMA because I think they are comparable in that they are the most desirable neighborhoods for people that want to live in the city. I haven't spent much time in Presidio Heights but it feels more like Brookline, which is great but people don't live there if they want to be able to have 50 restaurants within stones throw and easy access to public transportation and even then Brookline is a difficult comparison for many reasons.
I hope that you can understand that my argument isn't that Boston is more expensive than SF on purchase price terms but that your money actually goes further in SF on a per square foot and amenities basis. I know it's not intuitive when Zillow is telling you that SF is more expensive than Boston in pure dollar terms but they don't answer the question of what does that extra money buy you and the answer is extremely tangible benefits.