Waltham is One of the Best Towns to Live In in Massachusetts ... and That's Not a Fluke

Earlier in February, one of the top real estate firms in the state named Waltham the third best place to live in Massachusetts.

Now, after completing a deep report of Waltham’s 2014 real estate market, that real estate company has confirmed the ranking wasn’t a fluke.

McGeough Lamacchia Realty compared numbers from the 2013 housing market with the 2014 housing market and found that Waltham continues to go strong in home sales and market price.

A total of 739 homes sold at an average sale price of $425,799 in Waltham in 2014, which is 63 more homes and 3 percent higher than in 2013 respectively. Realtors expect this trend to continue due to “the commercial boom along Route 95, which includes popular chains such as Market Basket and more, attracting potential home buyers to the area.”

The totals broken down by type of home sold show a majority of homebuyers are looking for single-family homes:

• Single-Family Homes: 402 sold in 2014 versus 376 in 2013, for an average price of $460,369 which is a nice increase from the previous year’s average of $437,811.
• Condominiums: 286 condos sold in 2014 versus 251 in 2013 at an average price of $350,360, a bump from the 2013’s average of $337,422.
• Multi-Family: 51 homes sold in 2014, as opposed to 49 in 2013. The average sale price in 2014 was $466,669, up nicely from the previous year’s average of $464,341.

While it may not be surprising that homebuyers tend to gravitate to single-family homes, McGeough Lamacchia showed that the average price for one of these houses varies greatly even between Waltham and its neighbors.

A single-family home in Weston, Watertown, Lincoln, Lexington, and Newton could cost up to $1,150,325 more than the average price in Waltham. Condos in Waltham, however, cost more than condos in Lexington.

As of Feb. 19, there were 28 single-family homes on the market in Waltham with an average price of $614,927. Waltham also has 11 condos available, average price $502,945, and two multi-family homes whose owners are asking an average of $1,084,950.

McGeough Lamacchia realtors say now is the best time to put your home up for sale in Waltham since inventory will most likely rise after the snow finally melts and lower supply often results in higher prices.

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