Medford Real Estate Report

It is no secret that Medford and West Medford homes have been steadily increasing in value. Growing demand has evolved it into one of the most sought-after towns in Greater Boston – close to the city, right on the commuter rail, walkable town with fantastic shops and restaurants, plenty of parks and open space, great schools, and a variety of homes to suit anyone’s style or taste.

The average sale price of a single family home in Medford is up 8.4% as compared to the same time-frame last year (see below*). The number of homes available is holding steady with just a 1.7% increase as compared to last year.

Medford is also a popular alternative to Somerville and Cambridge – offering more space yet it still has an urban feel and is easily accessible to Boston. As such, condo prices have seen an 18.9% increase over the same timeframe last year, and a decrease in sold listings (i.e. availability) of 15%.

The average price of multi-family homes have seen a jump of 14.2% as compared to the same timeframe last year with average days on market up just 16.3%

Bottom line? Medford real estate is hopping – and now is the time to get in before you’re left out!

*Data Source: MLS, January—August 2013 vs. 2014

MEDFORD

Single Family

1/1/13-8/31/13
Sold Listings: 174 Avg. List$: $415,550 Avg. DOM: 36.85 Avg. Sale$: $416,868

1/1/14-8/31/14
Sold Listings: 177 Avg. List$: $448,011 Avg. DOM: 46.71 Avg. Sale$: $451,718

Condominium

1/1/13-8/31/13
Sold Listings: 140 Avg. List$: $306,653 Avg. DOM: 46.78 Avg. Sale$: $305,671

1/1/14-8/31/14
Sold Listings: 119 Avg. List$: $357,428 Avg. DOM: 50.46 Avg. Sale$: $363,290

Multi-Family

1/1/13-8/31/13
Sold Listings: 63 Avg. List$: $501,525 Avg. DOM: 28.54 Avg. Sale$: $507,000

1/1/14-8/31/14
Sold Listings: 77 Avg. List$: $563,482 Avg. DOM: 33.22 Avg. Sale$: $579,091