The results are in! We ran a report to find the hottest towns in Massachusetts for Q2 2014.
Of the 351 towns in Massachusetts, our report shows the Top 25 Towns with the largest increases in the number of home sales for the second quarter of 2014, a factor which we use to determine whether a town is becoming a sought after location for homeowners. Since we sell homes in most of these towns we enjoy preparing this list on a quarterly basis to better educate our clients.
We compiled data provided by The Warren Group that compares home sales from April 1, 2014 to June 30, 2014. Towns had to have a minimum of 50 home sales for the quarter to be considered for the list. Several of the towns on this quarter’s list, such as Westborough, Newburyport, and East Boston, have appeared in our 25 Hottest Towns lists before.
Watch John and Anthony Discuss the Hottest Towns and Midyear Report on Fox 25:
Here is our list of the 25 most popular towns in Massachusetts Real Estate for Q2:
Oxford tops our list with 63 home sales for the second quarter of 2014, an increase of 66% compared to Q1 2013 when there were 38 sales. Oxford is an affordable place to live with a median price for a home at $185,000, an increase of 3% compared to Q2 2013. Oxford is a quiet community located in Worcester County near the Mass Pike and route 395, making it an ideal commuter location. It’s just 15 minutes to Worcester, an hour to both Hartford, Connecticut and Providence, Rhode Island, and an hour and 15 minutes to Boston. Oxford has plenty of open recreational space and parks. The population of Oxford is 13,709, an increase of 3% since 2000. The residential tax rate in Oxford is $15.00.
Chelsea comes in second on our list with 84 home sales, an increase of 65% compared to Q2 2013 when there were 51 sales. The median price for a home in Chelsea is $270,000, an increase of 7% compared to the second quarter last year. Chelsea is an affordable city in Suffolk County with a short, easy commute to Boston. It’s conveniently located close to Logan Airport, and just minutes from North Station in Boston via the Newburyport/Rockport commuter rail line. Chelsea boasts over 30 parks playgrounds, open spaces and community gardens. The population of Chelsea is 35,177 and the residential tax rate is $14.88.
130 homes sold in Wakefield, an increase of 63% compared to Q2 2013 when there were 80 sales, putting it at #3 in our list of hottest towns for Q2 2014. 10 of these homes were new construction. The median price for a home in Wakefield is $410,000, an increase of 14%. Located in Middlesex County, Wakefield is just ten miles north of Boston, with access to two major highways, routes 93 and 95 and has a stop on the MBTA Haverhill commuter rail into Boston. Lake Quannapowitt in Wakefield is a large lake that it covers 254 acres and is a popular area for boating, races, and recreation. The population of Wakefield is 24,932 and the residential tax rate is $12.78.
A total of 50 homes sold in Uxbridge for the second quarter of 2014, an increase of 56% compared to Q2 2013 when there were 32 sales. The median price for a home in Uxbridge is $267,500, an increase of 15% compared to Q2 last year, and the highest price increase in our top 10 list. Uxbridge borders Rhode Island in southern Worcester County, and has access to route 146. It is about a half hour drive to Providence and an hour to Boston. The Blackstone River and Canal Heritage State Park is located in Uxbridge, which consists of over 1000 acres for walking and hiking, canoe access, picnicking, and wildlife viewing. The population jumped 21% since 2000, to 13,457 residents. The residential tax rate for Uxbridge is $17.31.
In Longmeadow a total of 64 homes sold in Q2 2014, 56% more than in Q2 2013 when there were 41 sales. Median home prices in Longmeadow have increased 14.8% compared to Q2 2013, to $355,000. Longmeadow is located in Hampden County just outside of Springfield. It has access to routes 91 and route 5 and is about 25 minutes to Hartford Connecticut and 2 hours from Boston. Longmeadow is known for its historic 17th and 18th century homes along Longmeadow Street, including the Storrs House, built in 1786 and is open to the public for tours. The population of Longmeadow is 15,784, an increase of 1% since 2000. The tax rate in Longmeadow is $23.35.
East Boston moved up from #13 in our hottest towns list for Q1 2014 to #6 on our Q2 list with 87 home sales, an increase of 55% compared to Q2 2013 when there were 56 sales. Home sales continue to be strong in East Boston because it’s an affordable option for people who want to live in Boston. 2 of these homes were new construction. Homes in East Boston sold for $335,000, an increase of 8% compared to Q2 last year. East Boston—or “Eastie”— has all the amenities of city living, yet it retains its close knit community feel. East Boston has several stops on the MBTA Blue Line and is the site of Logan International Airport. City Residents enjoy going to East Boston’s cultural festivals, summer concerts, and family friendly Constitution Beach. The population of East Boston is 40,508, an increase of 5% since 2000. The tax rate for East Boston is $12.58.
55 homes sold in Abington for the second quarter of 2014, an increase of 49% compared to the second quarter in 2013 when there were 37 sales. 3 of these homes were new construction. The median price for a home in Abington is $282,000, an increase of 13%. Abington is located in Plymouth County and has plenty of green space for residents, including Ames Nowell State Park, named one of the 1,000 Greatest Places to Visit in Massachusetts by Boston.com. Abington is located between routes 3 and 24, is about half an hour’s drive from Boston and an hour’s drive to Cape Cod. Abington also has a stop on the Kingston/Plymouth commuter rail to Boston. The population of Abington is 15,985, an increase of 9% since 2000. The residential tax rate for Abington is $17.19.
Woburn had 159 home sales for the second quarter of this year, an increase of 47% compared to Q2 2013 when there were 108 home sales. 2 of these homes were new construction. The median price for a home in Woburn is $365,000. Woburn is located in Middlesex County about 9 miles north of Boston. Woburn is an excellent location for commuters: it has access to major routes 3, 95, and 93, has a stop on the Lowell MBTA commuter rail into Boston, as well as Amtrak train service between Maine and Boston. Woburn is home to the Horn Pond Recreation area, which consists of several walking trails as well as Horn pond itself, which is available for fishing and boating for non-motorized boats. The population of Woburn is 38,120, an increase of 2%. The tax rate in Woburn is $10.44.
Westborough once again made our top 10 list. Home sales in Westborough increased 45% in the second quarter, with 84 homes sold. 4 of these homes were new construction. The median price for a home was $437,000, up .5% compared to the same period in 2013. Westborough is located in Worcester County and has easy access to routes 495, 9, and the Mass Pike. Westborough is home to Lake Chauncy, which features a beach, playground area, picnic tables, a basketball court and more. Westborough has new shuttle service from the Westborough commuter rail to the town’s office park, library, senior center, and post office. The population of Westborough is 18,272, up 2% since 2000. The residential tax rate in Westborough is $19.29.
Westwood rounds out our top 10 list with 66 home sales for the second quarter, an increase of 43% compared to Q1 2013 when there were 46 home sales. 2 of these homes were new construction. The median selling price for a home in Westwood was $630,000, the highest median home price for any town in our top 25 list. Westwood is located in Norfolk County just 12 miles southwest of Boston, is close to Route 95, and has two commuter rail lines into Boston, making it a convenient commute to the city. Westwood also has many recreational areas and facilities, including numerous conservation areas, playgrounds, ball fields and an indoor pool facility. The population of Westwood is 14,618, an increase of 4%. The tax rate in Westwood is $15.40.
Here are the rest of the hottest towns in Massachusetts ranked 11-25
|Rank||City/Town||Median Price||Number of Sales||Percent Change||Price Change|
For more information on the Housing Market this year, view our Midyear Housing Report for 2014.