Fewer houses carry price tags below $500,000 this year as the recovering economy brings floods of potential buyers, according to brokers in Wellesley, Watertown and Newton— sought-after communities a short commute from downtown Boston.
As of January, the median price in Wellesley stood at $935,000, while Newton weighed in at $710,000 and Watertown at $400,000, according to The Warren Group, a Boston-based real estate data company and publisher.
In Wellesley, there were just three homes on the market between $500,000 and $600,000, compared with eight last year. This pictured house in the Wellesley Cape was sold for just under $500,000 last summer. Next
In July last year, Dustin Pevear bought the then the cheapest house in Wellesley- a Cape Cod-style residence with a backyard faceing Route 9.
“In hindsight, I do think we got in at a pretty good time. At the time, it seemed like the market was very hot with limited inventory, but it seems like it is even hotter this year,” he said. Next
On sale now
Address: 147 Walnut St., Wellesley
Asking price: $239,900
Median price in town: $935,000
When it went on market: July 27, 2012
Features: This two-bedroom, one-bath 1872 Colonial with 987 square feet is listed as a “contractor’s dream.”
SOURCE: RE/MAX Select Realty/The Warren Group Next
Address: 9 Goldie St.
Asking price: $350,000
Median price in town: $400,000
When it went on market: March 8
Features: This two-bedroom, 1½-bath ranch was built in 1952 and has 952 square feet of living space.
SOURCE: RE/MAX Leading Edge/The Warren Group Next
Address: 54 Greenough St.
Asking price: $439,000
Median price in city: $710,000
When it went on market: Feb. 19; currently under agreement
Features: This well-kept 925-square-foot bungalow is near West Newton Square and a bus route into Boston.
SOURCE: Coldwell Banker Residential Brokerage/The Warren Group
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