Median home prices in areas around Greater Boston are quickly reaching $500,000. While this list includes some traditionally more expensive neighborhoods, many suburbs that aren’t usually considered as such are also soaring in price.
As prices in Boston skyrocket, people are forced to move farther out to find affordable real estate (it’s called decentralization). The rise in demand translates into a rise in prices and before you know it, neighborhoods that were not particularly sought after a few years ago are becoming the new hot spots for people looking to find affordable real estate.
Here’s a list of the median home prices around neighborhoods in greater Boston
Newton: >$1 million
Jamaica Plain: $765,000
West Roxbury: $530,000
Cambridge: $1.5 million
Lincoln: >$1 million
Wellesley: >$1 million
Imagine dropping a stone into water and watching the ripples flow out from the point of impact. That’s basically what the Greater Boston real estate market looks like right now.