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Hot Towns, Falling Prices

Posted by Scott Van Voorhis August 5, 2014 09:29 AM

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Home prices just keep going up, right? Or do they? Yes, home values are soaring in most Boston neighborhoods and suburbs, but a few zip codes are bucking the trend with double-digit declines.

No ugly ducklings, we are talking about some of the most desirable places to live or buy a vacation home in Massachusetts. The numbers all come from The Warren Group, publisher of Banker & Tradesman.

And leading the pack is none other than idyllic Edgartown on Martha's Vineyard, pictured below. Edgartown has seen its median home price drop to $619,250 through the first half of the year, a whopping 22.5 percent plunge from 2013.

edgartownagain.jpg
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Next up is Charlestown, long known as one of the hottest of Boston's neighborhoods, packed with historic charm and gorgeous harbor views. Charestown's median home price has fallen 15.6 percent so far this year, to $658,000,

Here's 441 Main Street - the seller of this 1830s colonial just knocked $100,000 off the price, bringing it down to $799,000.

One of the jewels of the South Shore, Cohasset has seen its median home price fall to $714,000. That's down 14.5 percent from last year, according to The Warren Group.

Here's a three bedroom, one-and-a-half bath colonial revival for sale at 124 South Main Street. The owner just cut the price by $50,000, bringing it down to $799,000.

Cohasset, 124 S Main Street.jpg

There are a whole bunch of honorable mentions here as well. Out on the Cape, the median home price in Orleans is down more than 17 percent, to $525,000.

West Newbury, a pretty little rural town by Newburyport, has seen its median price fall 19 percent so far this year, to $425,000, while in Berlin, out on I-495, the median home prices is now $325,000, having dropped by more than 20 percent.

Happy house hunting!


This blog is not written or edited by Boston.com or the Boston Globe.
The author is solely responsible for the content.

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Scott Van Voorhis is a freelance writer who specializes in real estate and business issues.

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