53° and Partly Cloudy
Image
Image by Pexels from Pixabay.
8-15-2022 7:14pm
How Westwood Area Ranks in List of Most Expensive Homes in Boston Metro
Darlene Cancell
Editor
By Stacker
Purchasing a home is one of the most important investments there is. More than a place to live, homeownership is an asset with the potential to tremendously rise in value. Given the current state of the real estate market, housing affordability plays a determining role for buyers. As of August 11, 2022, the 30-year fixed mortgage rate sits at 5.42%. As a result of higher mortgage rates across the board, home prices have risen significantly. The typical home value in the United States increased over the last year by +19.8% to $354,165.
Although home prices have inflated all across the U.S., there are definitely certain areas that have a higher price tag than others. Location, size, age, and condition are all contributing factors to home value. Whether you choose to hold off your home-buying plans in hopes of the market cooling down or are looking to buy ASAP, it's good to educate yourself on the market in different cities.
Stacker compiled a list of cities with the most expensive homes in Boston using data from Zillow. Cities are ranked by the Zillow Home Values Index for all homes as of July 2022. The ZVHI represents a seasonally adjusted price for the middle market for all homes. Data was available for 199 cities and towns in Boston. Charts for each city show the monthly typical home value since January 2018.
You may also like: Cities with the fastest growing home prices in Boston metro area
#20. Sudbury, MA
- Typical home value: $1,065,688
- 1-year price change: +16.6%
- 5-year price change: +43.9%
#19. Westwood, MA
- Typical home value: $1,065,907
- 1-year price change: +13.6%
- 5-year price change: +43.7%
#18. Sherborn, MA
- Typical home value: $1,128,261
- 1-year price change: +14.7%
- 5-year price change: +39.2%
#17. Rye, NH
- Typical home value: $1,183,785
- 1-year price change: +18.5%
- 5-year price change: +54.8%
#16. Manchester, MA
- Typical home value: $1,213,805
- 1-year price change: +16.0%
- 5-year price change: +42.4%
#15. Cohasset, MA
- Typical home value: $1,234,944
- 1-year price change: +14.8%
- 5-year price change: +41.7%
#14. Hingham, MA
- Typical home value: $1,242,733
- 1-year price change: +17.2%
- 5-year price change: +49.9%
#13. Carlisle, MA
- Typical home value: $1,266,218
- 1-year price change: +20.9%
- 5-year price change: +53.2%
#12. Brookline, MA
- Typical home value: $1,278,416
- 1-year price change: +7.9%
- 5-year price change: +27.3%
#11. Concord, MA
- Typical home value: $1,332,024
- 1-year price change: +17.1%
- 5-year price change: +44.4%
#10. Belmont, MA
- Typical home value: $1,445,780
- 1-year price change: +12.6%
- 5-year price change: +48.3%
#9. Needham, MA
- Typical home value: $1,446,880
- 1-year price change: +17.8%
- 5-year price change: +44.6%
#8. Winchester, MA
- Typical home value: $1,459,653
- 1-year price change: +13.7%
- 5-year price change: +41.3%
#7. Lincoln, MA
- Typical home value: $1,470,938
- 1-year price change: +16.6%
- 5-year price change: +41.0%
#6. Newton, MA
- Typical home value: $1,477,343
- 1-year price change: +12.5%
- 5-year price change: +38.1%
#5. Lexington, MA
- Typical home value: $1,593,730
- 1-year price change: +17.3%
- 5-year price change: +45.2%
#4. Dover, MA
- Typical home value: $1,630,270
- 1-year price change: +18.2%
- 5-year price change: +41.0%
#3. Wellesley, MA
- Typical home value: $1,838,407
- 1-year price change: +17.1%
- 5-year price change: +39.0%
#2. New Castle, NH
- Typical home value: $2,035,673
- 1-year price change: +20.2%
- 5-year price change: +67.1%
#1. Weston, MA
- Typical home value: $2,077,315
- 1-year price change: +17.4%
- 5-year price change: +35.4%
This article has been abbreviated and re-published pursuant to a CC BY-NC 4.0 License. Read the original article here.
