Some Boston Housing Markets Experiencing Drops in Prices

price drop real estate

Even as the median price of a home continues to rise in Greater Boston, prices are falling in some towns and suburbs. While areas with falling prices are certainly among the minority, these areas are not a rare occurrence. As such, those who are interested in purchasing a home in the Boston area can take advantage of these price drops if they are interested in enjoying a hard-to-come-by opportunity to purchase a less expensive home.

Finding a Bargain in the Greater Boston Area

A number of towns within the Greater Boston area have experienced a price drop during the first half of 2016. Among these Merrimack Valley as well as affluent western suburbs down to the South Shore. When looking at the overall market picture for Boston, prices tend to modulate the further away they are from the Boston Public Garden, which is considered to be the heart of downtown Boston.

Among those communities that seem to have taken the biggest price hits are beachfront communities, particularly those that are situated along the North Shore. Some areas that have been strongly hit include:

  • Newbury: Median prices have fallen 10 percent to $420,000 this year
  • Rowley: Median prices have fallen 19 percent to $383,750 this year
  • Wenham: Median prices have fallen 13 percent to $552,000 this year
  • Newburyport: Median prices have fallen 2 percent to $486,000 this year
  • Nahant: Median prices have fallen 9 percent to $430,000 this year
  • Cape: Median prices have fallen 9 percent to $330,000 this year
  • Dennis: Median prices have fallen 7 percent to $325,000 this year
  • Orleans: Median prices have fallen 6 percent to $564,638 this year

Outer Suburbs Offer Even Greater Deals

For those who are willing to accept a longer commute, prices are also falling in some of the towns situated in the outer suburbs. A few examples include:

  • Amesbury: Median prices have fallen 8 percent to $290,000 this year
  • Boxboro: Median prices have fallen 7 percent to $509,000 this year
  • Littleton: Median prices have fallen by 7 percent to $402,500 this year
  • Westford: Median prices have fallen 11 percent to $425,054 this year
  • Raynham: Median prices have fallen 11 percent to $320,000 this year
  • Easton: Median prices have fallen 11 percent to $365,500 this year
  • West Bridgewater: Median prices have fallen 9 percent to $290,000 this year

Even some of the upscale communities located closer to Boston have experienced price fluctuations this year. Among these are:

  • Carlisle: Median prices have fallen 21 percent to $850,000 this year
  • Concord: Median prices have fallen 18 percent to $749,750 this year

If you are looking for a home in the Greater Boston area where you can get a good deal, any of these areas are a good option to consider. Purchasing a home in one of these areas before the prices begin to climb once more can certainly serve as a good investment opportunity. Of course, there are plenty of other areas in Boston to explore when it comes to purchasing a home. No matter where you decide to make a purchase, you will certainly be glad to call Boston your home.

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