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Is Medford a Better Option Than Somerville for Home Buyers?

By
Real Estate Technology with ZipperAgent

Is Medford, MA a Better Option Than Somerville, MA for Home Buyers?

Public transportation routes in Boston can and do have a significant impact on home values.  It is hard to Orange Line Trainbelieve now as you walk down Washington Street in the South End, Roxbury or Jamaica Plain that 30 years ago an elevated rail line for the Orange Line ran down this street.  14 hours a day subway cars rattled overhead, brakes squealed, and a dark shadow lay over the neighborhood night and day.

Now the average price for a condominium on Washington St in Boston's South End based (on sales of the last three years) is $808,010 and the average listing price of the three that are on the market now is $1,476,000.

The Green Line Extesnison which will run through Somerville and into Medford is already having a significant impact on the housing market in Somerville.  As reported in bostinno.com the five planned MBTA station in Somerville, which currently only has one in Davis Square,"... has caused the median home value, median list price, and median sale price in Somerville to skyrocket.

June 2012 - June 2014 Somerville Housing Market:


Median home value (MHV) increase: $367,000 to $470,000

Median list price (MLP) increase: $389,000 to $485,000

Median sale price (MSP) increase: $404,000-$460,000 "

Medford, which borders Somerville has not seen this kind of increase in the housing market. The MBTA predicts that by 2020 the College Avenue T stop will be completed.  This will probably serve as the hub forTufts University 10,000 Tufts University Students.  In addition n Idigo Line stop planned for West Medford could lead to the same of similar increased in the value, listing price and sale price of Medford with it's 57,000 (+) residents.  

Real Estate Investors and those looking for equity in the near future would be wise to consider Medford.

 

For more information on home and investments properties in Medford click on the links below.

 

 

Find Homes for Sale in Medford, MA

 

Jamaica Plain Real Estate Market ReportsVisit my website to search for homes in Medford or to be notified when Medford or Somerville homes come on the market.

 

To find out what you home is worth in the current market email me or call 617-504-3969