What Boston-area housing markets have seen median prices rise the most?
Creative Commons 3.0: John Phelan, http://commons.wikimedia.org/wiki/File:Looking_east_on_Garfield_St,_Cambridge_MA.jpg
The Boston area contains some of the most competitively priced housing markets in Massachusetts, but what areas have seen median sales prices rise the most since 2005?
To find out, we perused the findings of a new report from The Warren Group, which was recently spotlighted by Boston.com. The key finding? That if one of your clients purchased a home in Cambridge in 2005, they’re a very, very happy happy client.
Since 2005, the median sales price in Cambridge has soared nearly 80 percent; that’s not only the largest such increase in the Boston area, but also nearly double that of second-place Jamaica Plain, where median price rose 40.6 percent.
As Timothy M. Warren Jr. of The Warren Group explained, it all comes down to jobs.
“Proximity to good jobs seems to be the common thread among the top communities,” Warren said. “Location matters in real estate, and here we see these key communities adding even more in terms of their home values.”
Check out our infographic below for more information:
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