top spots to live cruisingaltitude - amazon s3 · 2019. 4. 25. · ciation of realtors, and the...

20 THE BOSTON GLOBE MAGAZ I N E

CruisingAltitudeT O P S P O T S T O L I V E

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Though economists are whispering that a recession’s coming, Bostonarea housing prices are holding strong. This year, we crunched the salesdata to find the hottest markets in four regions — Boston proper and thecommunities north, west, and south of the city. By Jon GoreyI LLUSTRAT IONS BY MARILENA PER ILL I FOR THE BOSTON GLOBE


There are some key differences toour current housing hot streak, saysTimothy Warren, chief executive ofreal estate market watcher The War-ren Group. As much as home priceshave risen in the past five years, hesays, they haven’t climbed as fero-ciously statewide as they did from1999 to 2005, when median pricesrose 10 percent or more each yearin the reckless run-up to the hous-ing crisis. “That’s the kind of run-away train we don’t seem to be onright now,” says Warren.

Higher home prices are also sup-ported in part by rising incomes asBoston’s flourishing economy createsnew, high-paying jobs. “So much ofthe real estate market is tied to jobs,”Warren says. “We had the crash in2006 to 2008 because the prices hadgotten so high, nobody’s incomecould support that anymore.” Me-dian household income in metroBoston is up to $85,691, accordingto census data, about 1.4 times thenational average.

Still, as any home buyer can tellyou, prices in and around Bostonare hardly what most would call af-fordable. The median sale price ofa single-family home in the Boston

area hit $610,000 in 2018, accord-ing to the Greater Boston Asso-ciation of Realtors, and the typi-cal condo wasn’t much cheaper, at$565,000. And while the real estatemarket tapped its brakes last sum-mer and fall, there are still fewerhomes on the market than buyerswho want them, which Warren ex-pects will translate into continued,if more modest, price increases.

Rising rents will keep pressureon home prices, too, says BarryBluestone, professor emeritus ofpublic policy at Northeastern Uni-versity, particularly as swellingnumbers of grad students, youngprofessionals, and medical internsstuff themselves into the city’s three-deckers. “It makes it even more dif-ficult for working-class families whodo not already own a unit in Bos-ton, Cambridge, or Somerville to af-ford one, and therefore where we’reseeing the fastest increase in pricesand rents is actually outside of Bos-ton,” says Bluestone, longtime leadauthor of the biannual Greater Bos-ton Housing Report Card.

As more people are priced out ofthe city and its immediate neigh-bors, what was once a reliable pricecurve—the farther from Boston, thecheaper the house—has been flat-tening out. It’s also contributing toour regional traffic trauma as peo-ple extend their commutes. “We’renot solving our housing problem,and it’s exacerbating our transporta-tion problem,” says Bluestone.

Our annual look at the hottesthousing markets around Bostonseems to bear this out, with new-

comers such as Hudson and Ha-nover joining perennial hot spotslike Somerville and Needham. Thisyear our list focuses on the commu-nity seeing the fastest price growthacross four price tiers in each re-gion of Greater Boston—North,West, South, and Boston/Cam-bridge. The results for the suburbsare based on median single-familyhome sales in 2013 and 2018, us-ing data from The Warren Group(and excluding cities or towns withfewer than 75 single-family sales ineither year).

To better reflect the city of Bos-ton’s housing market, which is al-most entirely condo-driven in mostneighborhoods, but still single-family heavy in others (West Rox-bury, Hyde Park), we used medianhome price data—which includesboth condo and single-familysales—from real estate brokerageRedfin (we excluded areas with few-er than 100 total condo and single-family sales in 2013 or 2018).

Jon Gorey is a regular contributorto the Globe Magazine. Addition-al reporting by Lilly Milman. Sendcomments to [email protected].

RecessionproofingWorried about buying a house only

to see themarket plummet? These

places in Greater Boston saw

single-family prices increase

between 2005’s market peak

and 2011’s bottom.

percent

increase

DowntownBoston 41.5

Cambridge 10.2

Manchester-by-the-Sea 5.2

Somerville 5.0

Brookline 3.0

Charlestown 2.2

Winchester 0.6

Source: TheWarrenGroup

E’RE A DECADE REMOVED from the depths of the Great Recession, andBoston’s housing boom shows little sign of slowing down. Median homeprices in six Boston neighborhoods have soared 70 percent or more since2013, and a dozen surrounding communities saw single-family homevalues increase by 50 percent or better.

But with economic clouds gathering—more than half of economistssurveyed recently by the National Association for Business Economics expect the United Statesto suffer a downturn by 2020, and another 25 percent by 2021—should we be worried aboutanother real estate bubble bursting?

T O P S P O T S T O L I V E

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WINNERS IN FOUR PRICE CATEGORIES

THE BIGGEST PRICE jumpsof the last five years largelyhappened north of Boston.

In fact, eight of the 10 communi-ties outside Boston with the fastest-rising home prices were north ofthe city.

Housing demand follows jobs,says Warren, and these communi-ties are both close to opportunitiesin Boston and creating new onesthemselves. Some major develop-ments took root in that time, in-cluding Assembly Row in Somer-ville, which brought with it the firstnew Orange Line stop in 27 years,and the much-anticipated EncoreBoston Harbor casino across theMystic River in Everett.

In the under $500,000 pricerange, the highest growth northof the city is inEverett. Its formerindustrial buildings are being con-verted to lofts and craft breweries,while the city’s majority-minoritystatus is reflected by a refreshingrange of restaurants along Broad-way. “Everett is a great city for first-time buyers and families, with newschools, plenty of parks, and greatsports programs,” says Steve Petrel-lo, a real estate agent with Century21 North East.

NeighboringMedford leads themidrange $500,000-$750,000 cat-egory. Elise Kopley and her husbandmoved there 10 years ago, drawn byits location, affordability, and neigh-borhood feel. They thought theywould eventually “drop anchor”somewhere else, but when they hadkids, “we realized that it’s just a fab-ulous place to be,” Kopley says. “Itreally embraces families.” The Med-ford Family Network organizes freeclasses and events, and there arecitywide play groups that encouragefamilies to discover the entire cityand meet parents from other neigh-borhoods.

Those city-caliber social servicescome with a heaping side of natureand green space, thanks to the Mys-tic Lakes and the Middlesex FellsReservation. Realtor Judy Sou-sa says neighborhoods near thoseparks—particularly Brooks Es-tates, West Medford, and LawrenceEstates—have traditionally beenamong the city’s most desirable. Inthe last two years, though, demand

is high everywhere.Topping the $750,000 to $1 mil-

lion category is Somerville. Longtimeresident Paula Woolley supposesthe 47 percent increase since 2013is preferable to all the boarded uphouses that plagued her neighbor-hood when she first moved there inthe early 1980s, but also feels “toomany people have been priced out ofthe city.” While Woolley says Somer-ville’s vibrant arts and restaurantscene is particularly attractive foryoung people, she has loved rais-ing her children there and notes thecity’s free preschool programs andnew playgrounds. “Every neighbor-hood has a park within walking dis-tance,” Woolley says, but her favoriteis the Somerville Community Path.

Winchester extends its reign as atop spot for million-dollar homes.Realtor Liz Darby says people lovethe town’s close-knit communityfeel, which is palpable at the Sat-urday farmers market. Buyers canexpect to face competition on anyhome under $1.5 million or in walk-ing distance to the town center,Darby says. “The closer you are totown and being able to walk to thetrain, the library, and shopping,those are the toughest neighbor-hoods to get into.”

Under$500,000EverettMedian single-family price:

$445,000Change since 2013:+71percent

$500,000to$750,000MedfordMedian single-family price:$611,500Change since 2013:+55percent

$750,000to$1millionSomervilleMedian single-family price:


Over$1millionWinchesterMedian single-family price:

$1,150,000Change since 2013:+40percent

SHOPPING THEMEDIAN*

38Green Street |WoburnPrice: $609,900Bedrooms: 4Bathrooms: 2 full, 1 halfSquare feet: 2,238Lot size: 0.31 acreDowntownBoston: 12milesThis 1880 Colonial boasts Victorian-era

details like pocket doors and a stained

glass window, plus a basement in-law

apartment.

Also trending,basedonmediansingle-familyprices:Lawrence/$275,000 / Lynn/$345,000 /Malden/$486,450Winthrop/$493,250 /Melrose/$645,000

NORTHEN T ER I N G THE FAST L AN E

* In 2018, median sales prices for single-family houses in the Bostonarea broke $600,000 for the first time since the Greater Boston

Association of Realtors began tracking home prices, as half of homes

sold for more than $610,000.


M ANY OF BOSTON’S west-ern suburbs are famouslyexpensive, and the search

for an affordable home increasinglytakes buyers to communities alongInterstate 495—to places such asonce-humble Hudson, which had thetop price growth for towns with me-dians below $500,000. “Growing up,there was nothing in Hudson, andnow it’s become a real hot spot,”says Donna Moy-Bruno of RE/MAXResults. A walkable town centeranchored by craft breweries, bou-tiques, and trendy restaurants suchas the Rail Trail Flatbread Co. hasdrawn interest from young people,especially those who work along theI-495 corridor. “It’s more affordableat this point than, say, Framinghamis,” she adds.

Meanwhile, a 55-plus commu-nity with newer construction has

poached downsizers from wealthi-er enclaves in MetroWest, who findthey can get more for their moneyclose to their favorite haunts.Waltham tops the $500,000-

$750,000 category, buoyed by thecompany it keeps: It shares a borderwith Lexington, Weston, Belmont,and Newton, among other priceytowns. Hans Brings, a realtor withColdwell Banker, says the restau-rants of Moody Street, the canoeingand kayaking on the Charles River,and the easy commuter rail andhighway access are the envy of somesleepier suburbs. “It’s just an amaz-ing place to be,” he says. “And rath-er than people just visiting at thispoint, they’re saying, ‘Hey, I’d ratherjust live here.’ ”

Also nestled between tony townsis $750,000-$1 million winner Need-ham, which continues to see plentyof bidding wars, especially for hous-

es under $1 million, according toAmy Gworek, a realtor with WilliamRaveis. Buyers are drawn by goodschools, a concentrated town centerwith buzzy restaurants, and an easycommute: Needham boasts fourcommuter rail stops and easy accessto Route 128 and the Mass Pike.“We don’t have many people mov-ing out of town, people move in andthey stay,” Gworek says.

The $1 million winner, Dover,also saw some of the biggest pricejumps. There are three big reasonshome buyers are willing to pay amedian price of $1.2 million tolive here, according to realtor andlongtime resident Jay Hughes: Aschool system consistently rankedamong the state’s best, relativelylow taxes, and spacious lots lessthan 20 miles from Boston. Sincethere’s no town sewer or waterservice, he says, most houses aresited on 1- or 2-acre lots that cansafely accommodate both a septictank and a well. “So in addition toa sizable home, you’re also gettinga nice piece of land around it forkids and so forth,” Hughes says.Add in the town’s substantial con-servation land and he calls it a bitof nirvana in the middle of Bos-ton’s urban sprawl.

Under$500,000HudsonMedian single-family price


$500,000to750,000WalthamMedian single-family price:


$750,000to$1millionNeedhamMedian single-family price:


Over$1millionDoverMedian single-family price:

$1,210,500Change since 2013:+47percent

SHOPPING THE MEDIAN

6RobinhoodRoad |NatickPrice: $614,900Bedrooms: 3Bathrooms: 1 full, 1 halfSquare feet: 1,660Lot size: 0.23 acresDowntownBoston: 20milesThis 1950 Colonial has hardwood floors, a large deck, and a level,

fenced-in yard out back.

Also trending,basedonmediansingle-familyprices:Watertown/$650,000 /Arlington/$788,250 / Belmont/$1,150,000Brookline/$1,770,000

WESTONWARD AND UPWARD

One of the priciesttowns west of thecity, Dover, also sawsome of the biggestprice jumps.

T O P S P O T S T O L I V EWINNERS IN FOUR PRICE CATEGORIES

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BUYERS LOOKING for a rela-tive bargain might want tofocus their search south of

Boston: It’s the only region withouta million-dollar median town, so welowered our price tiers accordingly.

Take Brockton, winner of the un-der $400,000 category, where thetypical single-family home still soldfor less than $300,000, even aftera 62 percent run-up in prices since2013. “When you compare it to thenext town over, you’re talking abouta $70,000 price increase as you gofrom Brockton to Easton,” says LuisMartins, owner of RE/MAX Synergyand longtime resident. Brockton’sprice point allows a family with kidsto buy a home and still have enoughmoney to go on vacation or eat out,he says—and there are plenty of lo-cal options for fun, from BrocktonRox baseball at Campanelli Stadiumto the Fuller Craft Museum. “Theonly thing we’re missing is a movietheater,” he says. “It’s the only rea-son I leave the city.”

Martins says neighborhoods suchas Brookfield, a cluster of suburban-style single-family houses near theAbington line, are highly soughtafter. But inventory is still low, soexpect competition. “We’re gettingseven to 10 offers per house that’slisted, and there are only 80 houseson the market in a city with 100,000people,” he says. “That’s not a lot ofhouses for sale.”

With fewer than 15,000 residentsHanover is relatively sleepy by com-parison — but its real estate mar-ket has been anything but, makingit the top gainer in the $400,000 to$600,000 category. Hanover drawsbuyers for its rural feel and largelots, wide selection of new construc-tion, and state-of-the-art high school(built in 2011), says Lisa Coyne, arealtor with Coldwell Banker. It alsoappeals to sticker-shocked buyersrelocating to Boston from less ex-pensive parts of the country, suchas the South. “Hanover’s price pointcan mimic the Carolinas, they canget the pool, the home theater,” saysCoyne. More new housing is onthe way, with plans in the works totransform the struggling HanoverMall into an upscale retail-and-resi-dential development.

Across the Neponset River from

Boston, Milton takes the $600,000to $800,000 category in part thanksto itsmix of bucolic landscapes, sky-line views, and compact neighbor-hoods such as East Milton Squareand Lower Mills. Popular restau-rants such as Steel & Rye enhancethe town’s social scene. “It’s almostlike living in Boston, but you havethe benefit of all the suburban ame-nities,” says real estate broker PatTierney—including a well-regard-ed school system and access to theBlue Hills Reservation.

Topping the over $800,000 cat-egory isHingham,one of the fewtowns south of Boston where me-dian single-family prices crack thatlevel. Its coastal charm is ampli-fied by a walkable downtown dot-ted with boutiques, restaurants, andbeautifully restored antique housesalong what Eleanor Roosevelt oncedescribed as the most beautifulMain Street in America. “You havepeople who lived in Beacon Hill,they enjoyed that vibe and theyget the same feeling in Hingham,”Coyne says.

And it’s all just a boat ride awayfrom downtown Boston on the year-round commuter ferry (thoughthere are also two commuter railstops for landlubbers).

Under$400,000BrocktonMedian single-family price:$290,000Change since 2013:+62percent

$400,000to$600,000HanoverMedian single-family price:$541,000Change since 2013:+39percent

$600,000to$800,000MiltonMedian single-family price:$685,500Change since 2013:+39percent

Over$800,000HinghamMedian single-family price:$813,750Change since 2013:+24percent

SHOPPING THE MEDIAN

49WaldronRoad |BraintreePrice: $609,000Bedrooms: 3Bathrooms: 2 fullSquare feet: 2,252Lot size: 0.16 acreDistance to downtownBoston: 15milesCharm-preserving updates to this 1923 bungalow includea second-floor master suite with a new spa bath.

Also trending,basedonmediansingle-familyprices:Holbrook/$336,500 /Rockland/$339,990 /Randolph/$366,500Raynham/$400,000 /Quincy/$480,500

SOUTH“ BARGA I N ” HUNT ER ’ S D E L I GH T



A T THE EPICENTER of thisregional real estate boomis Boston itself, where six

swaths of the city (Mission Hill,South Boston, Brighton, Allston,East Boston, and Roxbury) haveseen median prices rise at a 70 per-cent clip or better in the past fiveyears, looking at both single-familyhomes and condos.

Prices have climbed 52 percentin HydePark, making it one of justa few pockets in the city where youcan typically find a single-familyhome for under $500,000. Real-tor Tierney says “the affordabilitydefinitely plays a role” in bringingbuyers to this rather distant cornerof the city, but so do its amenitiesand conveniences, including threecommuter rail lines, and “a lot ofold Victorian homes you can’t findeverywhere.” There’s also an im-pressive 19th-century outpost ofthe Boston Public Library and theNeponset River and Blue Hills res-ervations near your doorstep.

The fastest five-year growth inthe city happened in condo-heavyMissionHill, which saw medianprices climb 79 percent to lead the$500,000-$750,000 category. JohnNeale, a partner at Sprogis & Nealein the South End, says a big reasonis the proximity to Longwood. “Forpeople who want to walk to the hos-pitals, it’s a great location,” Nealesays. Doctors can’t be late whentheir shift starts, he notes, and withtraffic and public transit increas-ingly fraught with delays, they likeknowing they can walk to work ifnecessary.

In the $750,000-$1 million cat-gory, SouthBoston’s scorching pricegrowth means it has emerged as anew competitor to the South End,Neale says, because it offers some-thing traditional rivals Beacon Hilland the Back Bay cannot: room tobuild. Between the blank asphaltcanvas that was once the SouthBoston waterfront and the clumsyurban renewal that punched holesin the South End’s historic district,“both neighborhoods have signifi-cant opportunities for new con-struction, whereas Beacon Hill and

Back Bay don’t.”In addition to the shiny luxury

developments of the Seaport Dis-trict, the areas near Southie’s RedLine stops are fast getting built up,driven by people who want quickcommutes. “You can walk across thebridge to Whole Foods from WestBroadway, and that little corner ofSouth Boston has just seen explo-sive growth,” Neale says, outpacingthe traditionally desirable City Pointneighborhood near Castle Island.

Prices in the SouthEnd aren’tgrowing as rapidly as in South-ie, but the neighborhood’s medianbroke the $1 million mark, thanksto being within walking distance ofmany of the city’s office buildings.It’s also surprisingly close to Lo-gan Airport, Neale says, with onlya handful of stop lights on the way.And because the blocks aren’t sepa-rated into commercial and residen-tial zones the way much of the BackBay is, the South End charms with aNew York-style blend of residentialand retail space.

Meanwhile, between new con-struction mid-rises like Ink Block(where empty nesters can allay theirparking anxiety), and the brick Vic-torian row houses of the LandmarkDistrict (where outdoor space ispossible), the South End has some-thing for almost every buyer—atleast, those with deep pockets.

Under$500,000

HydeParkMedianhomeprice:$459,000

Change since 2013:+52percent

$500,000to$750,000

MissionHillMedianhomeprice:$641,500


$750,000to$1million

SouthBostonMedianhomeprice:$815,500


Over$1million

SouthEndMedianhomeprice:$1,066,500


SINGLE-FAMILY HOUSE

23BrushHill TerraceHydeParkPrice: $599,000

Bedrooms: 3

Bathrooms: 2 full

Square feet: 1,400

Lot size: 0.17 acre

DowntownBoston: 11miles

This 1950 Cape on the Milton line

has an updated kitchen and lush

backyard with pool.

CONDOMINIUM

33 Condor Street #2East BostonPrice: $599,000

Bedrooms: 2

Bathrooms: 2 full, 1 half

Square feet: 1,039

Condo fee: $200amonth

DowntownBoston: 3miles

The completely renovated second-

floor unit in this Eagle Hill three-deck-

er includes a porch and a luxurious

master bath with double vanity.

Also trending(combinessingle-familyand condo):East Boston/$543,500 /Brighton/$547,500 / Roxbury/$550,000

Dorchester/$552,000 /Allston/$678,500 / Cambridge/$919,000

BOSTONMARKET MAKER

SHOPPING THEMEDIAN



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ISTILL REMEMBER the firsttime I saw the Boston skylinefrom the “other” side.

Some friends and I had visiteda college buddy who lived south ofBoston and, driving home at night,the city I’d known almost my entirelife looked bigger, brighter . . . andutterly unfamiliar. Like seeing Orionupside down over Argentina, it wasstrangely enchanting.

That’s not a sentiment you oftenhear about the Southeast Express-way. But that sluggish lava flow oftaillights has since become my run-way to Boston, and even after 10years, it still feels a little foreign.

I grew up north of Boston, wherethe city pops into view around Exit33 in Medford. So when my wife andI bought our first house in Quincyafter renting in the city for severalyears, my parents were dumbfound-ed; I might as well have told themwe were moving to Tokyo, or Saturn.

Boston was neutral ground, aswas MetroWest, where my morereasonable brother had settled. Butthe South Shore? They all but statedwe’d be forfeiting any future chanceof free baby-sitting. (It turns outthe magnetic pull of a grandchild iseven stronger than Boston traffic.)

We know a handful of otherNorth Shore exiles here, but aroundBoston, it seems like people mostlystick to their side of the city—andview the other with something likecurious fascination. “I get dizzy ifI cross the bridge going north, itall looks like a giant strip mall tome,” jokes John Zuffante, one of my

neighbors and a Quincy native.In fact, residents who moved to

the Boston area in the past year aremore likely to have arrived from adifferent state or country than fromanother county in Massachusetts,according to census data.

Somerville Deputy Fire Chief BillHallinan and his wife both grewup in Somerville, and now live inAndover. Moving south of the citywould be out of the question formany reasons, he says, but a big oneis the roads. “On the South Shore,the traffic is terrible. Just terrible,”Hallinan says.

Dana Bull, a realtor with SaganHarborside Sotheby’s Internationalin Marblehead, grew up in Acton,where “both the North and SouthShore seemed impossibly far,” shesays. When Bull arrived in Salem fora job after college, she was stunnedby the architecture and quintes-

sential New England downtown.“It was like entering a whole newworld that I never knew existed.”

Bull says choosing north or southis a common dilemma for coupleswith ties to opposite sides of thecity. “I’ve seen a lot of couples settlein a neighborhood like Charlestownin order to be close enough to both,”she says.

My wife is from New York, so wewere pretty agnostic about wherewe ended up, as long as it was awalkable community close to Bos-ton and the ocean. I’ve become a bigQuincy booster, but I still feel likesomething of an outsider, becauseI’m lacking some key South Shorecultural touchstones. I had neverheard of Edaville Family ThemePark or Humarock Beach beforemoving here, for example—we wentto Canobie Lake Park and Hamp-ton Beach as kids. And I’ve never

known so many people who playhockey.

Jenn Ormond, cofounder of theQuincy-born chain Coffee BreakCafe, has a friend who grew upon the North Shore but moved toQuincy about a decade ago—andstill feels new to the area, as well.“She still drives to the North Shorefor her errands, because it feels likehome to her,” Ormond says.

Ormond doesn’t think it’s limitedto a North Shore-South Shore di-vide, though; people just stay closeto home, she says, wherever homeis, because life is busy and compli-cated enough already. “I think weall live in our own happy bubble,and don’t want to venture too farout of our comfort zone,” she says.“But once you try it, you realize howsmall the world really is.”

—Jon Gorey, with additionalreporting by Lilly Milman.

Sticking Close toHomeWhen it comes to buying a place of their own, Bostonians look where they know.


Feeling theHeatThese communities rank as thehottest in Greater Boston on Redfin’sCompete Score, a 100-point scalebased on days on market, number ofcompeting offers, waived contingen-cies, and sale-to-list-price ratio.

Melrose 98Arlington 98Malden 97Peabody 94Framingham 93Tewksbury 93Woburn 93Salem 93Millis 93

WalkThisWayCars are optional in these places,based on Redfin’s analysis of popu-lation density and amenities. Ascore above 70 (out of 100) meansmost errands can be done on foot.

Cambridge 87Somerville 86Everett 81Boston 81Chelsea 80Brookline 78Lawrence 72Malden 69Lynn 68Salem 66

68Percent of millennials whorank “commute time” as veryor extremely important whenbuying a house.

SOURCE: ZILLOW GROUP


TheHotTowns

DataSheetFinding a house is always a numbersgame. By Shafaq Patel

Shafaq Patel is an undergraduate studying journalism atEmerson College. Send comments to [email protected].

APR I L 2 1 , 2 0 1 9 29

HouseboundAmericans overwhelmingly prefer detached single-family houses — they make up 82 percent of pur-chases nationally, and 79 percent in the Bay State.

More stats:NATIONWIDE MASSACHUSETTS

Average bedrooms 3 3

Average baths 2 2

Square footage 1,900 1,790

Year built 1991 1970

Time spent looking 10weeks 13weeks

Houses viewed 10 10

Median distancemoved 15miles 10miles

SOURCE: NATIONAL ASSOCIATION OF REALTORS

0-5MILES

$775,278

5-10MILES

$660,906

10-15MILES

$565,208

15-20MILES

$488,186

20-25MILES

$429,838

25-30MILES

$390,166

DrivingRangeThe farther you go from Boston, the less you will pay, on average, for a median-priced house. SOURCE: GREATER BOSTON HOUSING REPORT CARD

9The percent of homebuyers in the 12 months priorto April-June 2018 who didnot previously own or rent.


WhereWeBuy


21%Rural

48%Suburbs

31%Cities

Up-and-ComersThe Boston-area communities with the steepestmedian price increases for single-family homesfrom 2017 to 2018. SOURCE: THEWARREN GROUP

2017 2018 PERCENTCHANGE

Dorchester $481,300 $558,500 16.04

Revere $375,000 $425,000 13.33

Hanson $327,000 $370,000 13.15

Weston $1,335,000 $1,500,000 12.36

Swampscott $519,000 $577,750 11.32

Wilmington $465,000 $517,500 11.29

Roslindale $550,000 $609,500 10.82

Cambridge $1,310,000 $1,450,000 10.69

Belmont $1,039,000 $1,150,000 10.68

Hyde Park $400,500 $443,275 10.68

ThatLived-InFeelMost Americansaren’t the first tolive in the housethey purchase.

Bought anexistinghome

Boughta newlyrenovatedhome

Bought newconstruction

70%

11%

19%

IMAGES

FROM

ADOBE

STOCK


Well-HeeledThe Massachusetts cities and townswith the most expensive mediansingle-family home sales in 2018.

MEDIANSALES NUMBERPRICE SOLD

Boston* $2,704,500 50Brookline $1,770,000 159Weston $1,500,000 158Nantucket $1,490,000 172Cambridge $1,450,00 93Wellesley $1,376,250 356Dover $1,210,500 88Newton $1,184,750 652Belmont $1,150,000 161Winchester $1,150,000 256SOURCE: THEWARREN GROUP

* Downtown, Back Bay, South Boston, The Seaport


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Where toBuyat2013PricesWishing you had a time machine so you could purchase asingle-family home back in 2013, just as the housing recoverywas gaining steam? In a handful of Eastern Massachusetts com-munities, prices haven't changed all that much in the past fiveyears, inching upward at about the same pace as overall inflation,or even less. — J.G.

2013 2018 5-YEARMEDIAN MEDIAN CHANGE

Westport $349,500 $354,450 1.42%Norwell $573,200 $620,000 8.16%Sherborn $745,000 $810,500 8.79%Boylston $412,600 $449,000 8.82%Lincoln $1,037,500 $1,140,000 9.88%

APrimer for First-TimersBuying a home for the first time is always fraught, and in a marketlike Boston’s, ever-rising real estate prices make it feel like a fracas.Here are five tips for buyers entering the fray.

Financing equals flexibility. Get your mortgage financing completelylined up, so all that’s left is to identify a property, says Winchester real-tor Judy Sousa. “That puts you in a better position as a buyer,” she says,compared with someone who needs an extra six weeks or more to final-ize their loan. And if a seller needs more time, Sousa adds, stay flexibleenough to accommodate them if possible.

Be ready to pounce. You can expect plenty of competition this spring,says Newton realtor Marie Presti. “If you see something you like, Iwouldn’t hesitate,” she says. A quick offer might help dodge a biddingwar. Likewise, Boston realtor John Neale says many listings in the SouthEnd are still priced to sell in the first open house weekend, so buyersneed to have their checkbooks ready. “If you’re just starting out, it’s pret-ty unnerving,” he says. “That can be stressful for first-time buyers—foranybody, really.”

Patience pays off.Competing with downsizers, upgrading home-owners, and cash buyers means you may lose a few bidding wars in thebusy spring market. But those early letdowns can provide a valuable (ifheartbreaking) crash course in home buying, Presti says. “If you’re pa-tient and persistent, you can get something in July when everyone goeson vacation.”

Game the rates.While interest rates on a 30-year mortgage havedropped after hitting a seven-year high in November, many observers ex-pect them to rise slightly as the year goes on. It could be worth paying alittle extra for a home now to lock in a lower rate for years to come.

Stay open-minded. Presti says many families try to buy into the verybest school districts in the state, when the fact is, dozens of towns andcities have school systems that would be the envy of other areas. “Ourschools in Massachusetts are ranked best in the country,” she says. Prestipoints to Woburn, Stoneham, Quincy, Swampscott, Braintree, Dedham,Wakefield, and Burlington—all of which are within 15 miles of down-town Boston, have well-rated schools, and a median sale price under$600,000. —J.G.

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