Thanks to strong employment and a rising population, suburbs of Boston have seen real estate prices surge, writes Norman Holbrook, a broker associate at Coldwell Banker, for MarketWatch.
Citing the Greater Boston Association of Realtors, Holbrook reports that sales of detached single-family homes in greater Boston increased 13% year-over-year ending in October, leading to a median sales price of $440,000. Pending home sales increased 20.5% over the past 12 months.
Holbrook features five towns that, he says, have benefited from home buyers seeking value and the resulting price appreciation. They are Westwood, Dover, Sherborn, Natick, and Wayland.
[These five places] are adjacent to a more expensive town that has historically had greater price appreciation. For the past several months, however, these featured towns have all had stronger price appreciation than their tonier neighbors.