Wellesley Tops New Massachusetts Ranking of Most Expensive Communities
Glaring Omissions: Coldwell Banker Report Fails to Include Many 'Posh' Communities
Wellesley came out tops in Massachusetts in a recently published report of the "most expensive communities" in US by Coldwell Banker. The report purportedly ranks the average listing prices for 4 bedroom, 2 bath homes throughout the US. Wellesley was ranked #13 nationally with an average listing price of $1,294,684 million (#1 in Massachusetts).
However, the report was seemingly designed more for national headlines than for accuracy.
Upon closer inspection, glaringly absent are traditionally top ranking cities/towns such as Weston, Dover, Brookline, and Newton in MetroWest, to all of the Cape and the Islands, among other cities and towns throughout the Commonwealth. This major shortcoming is likely due to a structural limitation of the study whereby only communities with a minimum of 10 four bed, two bath homes listed on ColdwellBanker.com were included -- hence the numerous prominent omissions by Coldwell Banker.
Overall, 9 Massachusetts communities ranked in the "Top 50" nationally on this : #22 - Cambridge ($1,057,120), #23 - Concord ($1,040,290); #28 - Lexington ($988,629); #34 Marblehead ($961,594); #37 - Hingham ($949,167); #42 - Cohasset ($917,718); #46 - Belmont ($896,684); and #48 - Needham ($894,533). Milton rounds out the Top 10 in Massachusetts at $848,090 (#53 nationally).
California led the list with the most zip codes in the Top 50: 13, including the 11 mot expensive communities, starting with the Silicon Valley town of Saratoga at $2.4 million. Massachusetts was second with 9 zip codes in the Top 50.
The rankings included 2,168 communities nationally.
The least expenseive communities in Massachusetts on the list were: Springfiled ($140,875); New Bedford; ($144,879); Chicopee ($204,118); Firchburg ($246,580), and Leicester ($258,800).
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