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Your Town: 2014 Weymouth Real Estate Market Report

In this “Your Town” report we are taking a deep look into Weymouth as a whole and looking at sales numbers for 2014 versus 2013, along with how the towns along its borders did, as well as what’s currently on the market in town right now.

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2013 vs. 2014 in Weymouth:

Overall, the housing market remained strong in Weymouth in 2014, with a total of 675 homes sold at an average sale price of $303,793.  The 675 number includes single-family homes, condominiums, and multi-family homes. That meant a nice increase in the overall average home price, with homes selling for a whopping 14.4% more than in 2013.  22 fewer homes sold in 2014 than in 2013, which is part of a trend that contributed to overall home sales in Massachusetts being down 1% in 2014.

Breaking down the numbers:

  • Single-Family Homes: 464 sold in 2014 versus 502 in 2013, for an average price of $318,758 which is a big increase from the previous year’s average of $295,328.
  • Condominiums: 191 condominiums sold in 2014 compared to 173 in 2013, with an average sold price of $217,912, a good jump from 2013’s average of $206,679.
  • Multi-Family: 20 homes sold in 2014, as opposed to 22 in 2013. The average sale price in 2014 was $374,710, a massive boost from the previous year’s average price of $278,899.

Next, looking at the towns that Weymouth shares a border with, we see that the town remains affordable compared to Hingham, Quincy, and Braintree, where a single-family home can cost up to $430,564 more when you look at average sale prices (see graphic above for a breakdown by town).  Holbrook, Abington, and Rockland come underneath Weymouth’s average price for a single-family home by anywhere from 2-19%.

Weymouth, Right Now

As of today, March 12, 2015, there are 52 single-family homes on the market in Weymouth, with an average listed price of $382,167.  24 condominiums join them, with an average asking price of $227,907, and there are currently 3 multi-family homes on the market, whose owners are asking for an average of $586,266.  That is a total of 79 homes on the market, as compared with 92 on the market one year ago today.

Town Profile

Weymouth is a mixed residential community of 54,743 as of the 2010 US Census, located in Norfolk County off of Routes 3 and 3A approximately 40 minutes away from Boston by car.  The short commute into the city, combined with a commuter rail stop which also gives access to downtown, make Weymouth an excellent option for commuters.  The city features several open public-use parks and spaces, along with two public beaches with large parking lots, offering plenty of recreational opportunities for residents.  Additionally, the area is teeming with restaurants and shops for the dining and shopping convenience of those who live there.  With so much to offer, it’s no wonder that Weymouth remains a desirable place to live and own a home.

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