The Massachusetts community of Wellesley is most synonymous with its namesake college, but as we detail below, there are many qualities to the august town, and all of them are responsible for its strong housing market.
1. Superior Schools – We know, it’s hardly shocking that a town with a world-class institute of higher learning would also have terrific public schools, but there is a remarkable statistic behind Wellesley’s school district that really sets it apart. According to a recent realtor.com analysis, homes in the Wellesley school district sell for a median of $1.85 million, which is a whopping 336 percent premium over the Norfolk county median; that’s the second-highest premium in all of Greater Boston, and goes to show how much homebuyers value strong schools.
2. A High Quality of Life – Schools are not the only exemplary thing in Wellesley. Indeed, according to a Niche study of Boston suburbs, the town’s various amenities make it the fifth-best place to live in all of Greater Boston. Although the community received low marks for its cost of living, it received perfect “A+” grades for education, public schools, health and fitness, and family amenities, along with near-perfect marks for outdoor activities and commute.
3. New England Culture – Niche’s high ratings for Wellesley’s amenities and activities are easy to justify. In addition to the Wellesley Symphony Orchestra, the town also features a rich tradition of horticulture with the H. H. Hunnewell Arboretum and the Massachusetts Horticultural Society. Also, every Memorial Day weekend, Wellesley hosted its “Wonderful Weekend,” which includes a veterans’ parade and one of the more elaborate fireworks displays in the U.S.
4. College Par Excellence – No article about Wellesley would be complete without some praise for Wellesley College, which is not only the third-best liberal arts college in the U.S., but also ranked No. 1 in The Princeton Review’s “Best Professors” list. Founded in 1870 as one of the original Seven Sisters Colleges, Wellesley College today boasts one of the most powerful networks of women in the world, and counts among its alumnae Hillary Clinton, Madeleine Albright, Cokie Roberts and Diane Sawyer.
5. Exclusivity – Finally, Wellesley is the most exclusive housing market in all of Massachusetts. According to Coldwell Banker’s annual Home Listing Report, the average price of a four-bedroom, two-bath single-family home in Wellesley went for $1,294,684 in 2016, putting it ahead of Cambridge, Concord and other wealthy suburbs.