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Housing Report on 4 Select Towns in Massachusetts

We pulled data provided by the Warren Group to offer insight on the housing market in these select towns from different counties in Massachusetts.

NorwoodNorwood

Home sales in Norwood were very strong in 2013. There were 326 homes sold in 2013 compared to 278 in 2012, an increase of 17%. The majority of these sales were single-family homes. 251 single-family homes sold in Norwood in 2013 compared to 198 in 2012, an increase of 27%.

Overall home prices increased in Norwood as well. The average price for a home in Norwood in 2013 was $328,062, an increase of 8% compared to 2012, when the average price was $302,732. Single-family homes sold for an average of $376,620, an increase of 5% compared to 2012 when the average price was $357,343.

Norwood is a town in Norfolk County, located about 40 minutes from Boston. It has easy access to routes 1, 93, and 95. Norwood also has 3 stops on the Franklin commuter rail to Boston,

Norwood has a variety of attractions including the Luke Adams Glass Blowing Studio, which offers classes in glass blowing as well as the sale of products made in the facility. Norwood Theater in downtown Norwood recently underwent a multi-million dollar restoration and shows movies, music, art performances, and offers rental of the space for special events.

The population of Norwood is 11,227 in 2010, an increase of 7.33% since 2000.

WatertownWatertown

Watertown home sales in 2013 were also very strong and showed an increase in the overall average price for a home as well. There were 510 homes sold in 2013 compared to 409 in 2012, an increase of 25%. The average price for a home in Watertown was $464,135, an increase of 8% compared to 2012.

The average price for a single-family home in Watertown remained flat compared to 2012, at $490,212. The overall increase came from multi-family homes. 109 multi-family homes sold in Watertown in 2013 compared to 104 in 2012, a 5% increase, but the average price rose 18% from $457,664 to $541,013, which raised the overall average price for all types of homes sold in Watertown.

Watertown is located in Middlesex County. It enjoys all the advantages of being close to the city but has a nice small town feel with a population of about 32,000. It’s an easy commute into Boston, with access to major routes such as the Mass Turnpike and several MBTA bus lines. Watertown is home to the New Repertory Theatre which is part of the Arsenal Center for the Arts. The Center offers classes, a gallery, and artist studios. Watertown has a variety of casual restaurants including Zagat rated Stellina. Watertown School District ranked in Boston Magazine’s the Top 100 schools in 2011.

TopsfieldTopsfield

The number of home sales in Topsfield rose 17% in 2013 compared to 2012, from 81 homes to 95. The average price for a home in Topsfield also went up. A home in Topsfield sold for an average of $515,178 in 2013, up 3% compared to 2012 when the average price was $497,949.

Single-family home prices in Topsfield remained flat in 2013 compared to 2012, at $473,616. Condo prices, however, increased 9% compared to 2012 and at an average price of $587,300 in 2013 sold for 24% higher price than single-family homes.

The town of Topsfield is a rural close knit community located in Essex County, about 24 miles northeast of Boston. Topsfield has access to routes 1 and 95 making it an ideal location for commuters.

Topsfield is best known for the Topsfield Fair, one of the oldest fairs in the country. The Topsfield Fair has demonstrations, music, a midway with games and rides, animal shows, and more. Topsfield is home to the Ipswich River Wildlife Sanctuary, which consists of over 1900 acres of forests, meadows and wetlands. Visitors can take advantage of its summer day camps, canoe rentals, and 12 miles of trail hiking.

The population of Topsfield is 6,085.

WorcesterWorcester

The number of home sales in Worcester decreased 2% from 1,559 in 2012 to 1,530 home sales in 2013. While year over year condo and single-family home sales rose, the number of multi-family home sales dropped 18%, which pulled the overall home sales numbers down. The average price of multi-family homes, however, rose 22% year over year, from $146,723 in 2012 to $178,549 in 2013.

Single-family home sales increased 3% in 2013, from 969 homes sold in 2012 to 996 last year. Condo home sales also increased 3% from 240 in 2012 to 247 in 2013.

The average selling price for all types of homes rose 14% year over year, from $144,313 in 2012 to $164,362 in 2013.

Worcester is the second largest city in Massachusetts with a population of 181,045 in 2010, a 4.9% increase since 2000.

With its easy access to major routes like the Mass Pike, and commuter rail access to Boston, residents can get to Providence in 45 minutes, Boston in an hour, and New York City in about 3 and a half hours.

Worcester has a world renowned art collection at the Worcester Art Museum, and for children there’s the EcoTarium, an indoor-outdoor science museum. Worcester’s “Restaurant Row” on Shrewsbury Street has more than 40 choices for fine and casual dining as well as many retail shops. The DCU Center located in downtown Worcester is an indoor arena and conference center that hosts concerts, expos, and sports events.

 

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