In a recent article Boston Business Journal has cited Melrose MA to be the hottest real estate market in Massachusetts.
I have done quite a bit of business in Melrose, Massachusetts over the years and it is certainly no shock to me. Even back in 2009, 2010 Melrose during the housing down turn. Houses are coming on the market in Melrose and are immediately flooded with offers. Homes are selling for significantly more money then their asking prices in many case. I have found that you must be an aggressive bidder when purchasing a home in Melrose is you want to be the winning bidder.
So why is Melrose MA Real Estate a Hot Commodity?
Melrose has done a great job turning their downtown into a thriving, walking downtown. Routes 1 and 28 as well as 93 run through Melrose, straight to Boston. Melrose is about 7 miles from Boston making it a great community. As well as being close to Boston, Melrose is also the last stop on the orange line and also has a train stop on the northern part of the community. Their are many neighborhoods in Melrose where you can walk to the T or the train for you work commute.
Combine the commuting with a good school system and a reasonable housing prices, it is no wonder Melrose is one of the hottest communities for real estate.
I have brought many relocating buyers to Melrose, moving in from other parts of the country who are trying to find a balance between home affordability and minimal commute time.
Some Quick Melrose MA Real Estate Statistics
In the past year Melrose had 224 home sell for a Median price of $468,950. The lowest priced property was $149,900 and the highest price was $1,375,000. The average Days on Market is 40 days, well below the state average. The average sale price to list price is 101% in Melrose over the past year. If you are looking for an all around good Boston suburb community you can be successful buying a home in Melrose from about $350,000 to $700,000
