Wellesley Second Most Expensive Housing Market in the State
Wellesley is number two in the state for average home price, just behind Weston. Wellesley did not rank nationally.
Sit down before hearing this news. It's official: Homes in Wellesley are expensive.
In fact, they're not far off the peak of the housing market mountain in the state of Massachusetts, coming in at number two.
In this year's edition of Coldwell Banker's national Home Listing Report, released Thursday, Nov. 29, the average price of a typical four bedroom, two bath home is listed at $292,152.
When it comes to Wellesley, however, that price skyrockets to $966,950, which makes it the second-most expensive home market in the Commonwealth, although not in the top 20 nationally.
This year’s report analyzes more than 72,000 home listings in more than 2,500 U.S. markets, comparing the listing prices of similar homes in markets across the country from January 2012 to June 2012, according to Coldwell Banker.
Neighbors in Weston are paying just a little more for their homes. Weston comes into the listing at #1 in Mass. in with an average price for of $1,105,692, which also makes it the number 14 on the national list.
Adjacent Needham is also not far off the list. Among the 116 Massachusetts communities included in the rankings, Needham comes in at 7 the from the top, with an average price of $796,673.
With Wellesley's high cost housing market comes an upscale community with the median household income topping out a little over $145,000. Half of the town has a commute of 24 minutes or more, and 87 percent hold white collar jobs.