2017 MA Towns Median Home Prices - Boston Magazine (Brockton, Lynn: homes, tech jobs)

[mwj119]

https://www.bostonmagazine.com/top-p...-family-homes/

Any major surprises? Any trends that catch your eye? Predictions for 2018?

[OutdoorLover]

Jeez, that is pretty impressive, thanks for the info. As a homeowner, I suppose on balance it's good news. But it is leavened somewhat by what will be increasing RE tax bills, and the thought that you can't really win by selling, unless you can buy in an area you also like that's not appreciating as fast. Still if I had to pick, I'd definitely rather see my home value rising than falling.

[tysmith95]

Looking at the 5 year change, seeing cities like Brockton, Lawrence, Lynn, and Chelsea at the top is interesting.

When looking at days on the market the Watertown/Arlington/Medford area is hot. That doesn't surprise me.

I think there are some issues with small towns (like Nahant or Carlisle) where the yearly changes might be due more to what homes happen to be on the market rather then an actual change in value. Though I like how it uses medium price which as a whole is a much better measurement compared to average.

[mwj119]

My initial thought is that, despite some outliers, the luxury market has capped. And, after many years of killer growth in the inner ring, and largely because of that crazy demand in recent years, the tide may be starting tonshift slightly towards the outer ring. I think this will continue, and places like Melrose/Wakefield/Milton will start to level out a bit.

I would have never believed, 10 yeas sgo, that median home prices in Billerica would be pushing $450k. Billerica and Dedham are essentially the same price? I guess that’s the product of being close to Waltham-Burlington-Woburn.

[rethcir]

Lawrence's new mayor is doing some great work it seems!

Speculative buying around the future Silver Line in Chelsea is probably helping there.

[tysmith95]

Originally Posted by mwj119

I would have never believed, 10 yeas sgo, that median home prices in Billerica would be pushing $450k. Billerica and Dedham are essentially the same price? I guess that’s the product of being close to Waltham-Burlington-Woburn.

Woburn is pretty comparable to Dedham. Both in price, distance from Boston, and character.

[mwj119]

Originally Posted by tysmith95

Woburn is pretty comparable to Dedham. Both in price, distance from Boston, and character.

Always thought of Dedham as more upscale and established, though the data shows that you're correct. It must be that Dedham has more luxury housing, but the barrier of entry is lower? Dedham just feels a bit more quaint and desirable.

Good to see areas like Woburn and Billerica on the rise. Kind of assumed in recent years that Billerica would see a jump based on location.. Apparently that new high school is going to be unbelievable too, so I expect this years increase to grow by %.

[MikePRU]

I found it interesting that Brookline was #1 in median price for 2017 and #6 for 1 year increase in median price. Yet it was somewhere around #25 for 5 year median increase. It was also the only "high dollar" location with a double digit increase this year. The only other "high dollar" suburb with a double digit change was Lincoln and that had a -11% change.

[mwj119]

Originally Posted by MikePRU

I found it interesting that Brookline was #1 in median price for 2017 and #6 for 1 year increase in median price. Yet it was somewhere around #25 for 5 year median increase. It was also the only "high dollar" location with a double digit increase this year. The only other "high dollar" suburb with a double digit change was Lincoln and that had a -11% change.

Further proof that if buyers at the highest price point have the money, they're turning to communities closer to the city. Then again, Concord is trending up, but that seems to be an exception as opposed to the rule in the tier 1 upper crust towns. Weston has been stagnant, while Newton continues to boom.

The luxury market in general, and to your point, seems to have leveled out. And towns like Bedford, Reading, Westford, Natick are really reaping the benefits as affluent buyers look to these towns for more "reasonable" luxury homes.

[tysmith95]

Originally Posted by mwj119

Always thought of Dedham as more upscale and established, though the data shows that you're correct. It must be that Dedham has more luxury housing, but the barrier of entry is lower? Dedham just feels a bit more quaint and desirable.

Good to see areas like Woburn and Billerica on the rise. Kind of assumed in recent years that Billerica would see a jump based on location.. Apparently that new high school is going to be unbelievable too, so I expect this years increase to grow by %.

Yah I'd tend to agree with you. Maybe Woburn is considered a better location. It's closer to the tech jobs along 128 (more north then south) and is an easier drive to downtown Boston.