Medway, MA Real Estate
An Overview
The small rural town of Medway stands in Norfolk County. This quiet locale today enjoys geographic proximity to two important urban centers along the East Coast: Boston, Massachusetts and Providence, Rhode Island. It lies roughly equidistant between them "as the crow flies", in fact. Today it sometimes attracts interest from some home seekers searching for properties on the outskirts of these metropolitan areas.
The community sits within 25 miles of Boston, although main roads do not connect it directly to that city. Drivers journey some 45 miles from this small town to reach the largest metropolitan center in Massachusetts. They arrive in Providence more quickly; the capital of Rhode Island lies only 22 miles away.
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Residents of this small town access two main transportation corridors between these major metropolitan areas easily. They can reach both Highway 1 and Interstate 95 via Village Street and Road 115. A southern main road into town, Lincoln Street, also offers access to the Interstate 495 beltway via Union Street from this location.
Medway currently maintains a small but growing population of nearly 13,000 people (counting outlying areas). The town began its existence as a farming community and has remained rural for hundreds of years. Today it covers 11.5 square miles just a short distance southwest of Medfield.
Extensive development has occurred in this location since at least the late 1990s, although for significant portions of its history the population had steadily declined. Currently, a high percentage of residents find employment within construction trades. (Reportedly, many residents currently work in professional, scientific, and technical occupations).
A section of the Charles River flows through Sanford Mill Pond across the southern part of this town. The waterway contributes to wetlands just southeast of the community. Although rare, flooding has occurred here in some locations in the past. Consequently, prospective property buyers may find it useful to inquire into the availability of flood insurance. They should also pay close attention to waterproofing issues, particularly when considering older homes with basements or cellars.
Three small towns surround this increasingly suburban enclave: Millis on the north, City Mills on the south, and Rockville on the west. The town of Walpole lies slightly further away, yet remains accessible by traveling a short distance to the east. The town's growth during recent years has enabled residents to find employment, shopping, dining, and entertainment opportunities within the immediate area. The crime rate in this rural enclave remains far below the national average.
The population easily accesses activities within surrounding communities also. Framingham sits roughly 15 miles north of this location, and Franklin lies around 10 miles southwest. Residents easily undertake excursions into either Boston or Providence from this location. Framingham maintains an Amtrak station which offers short term parking facilities. The Massachusetts Bay Transit Authority offers bus service to several communities in this region along its Franklin line from nearby Walpole.
This town maintains a unified public school district. Students can attend classes in the community between preschool and 12th grade. Several universities serve college age students and older learners from this location. These institutions include Framingham State University, Babson College, and numerous online educational institutions offering distance learning programs.
Although too small to maintain a hospital, the community does support a long term nursing care facility. Residents who served in the military access a VA Medical Center a short drive away along Highway 1 in Suffolk County. Numerous hospitals and medical clinics in the Providence and Boston Metro Areas also care for patients living in this outlying region.
With its quiet milieu and convenient location, this still-rural town offers some important advantages for people seeking homes and investments. It appears poised to witness ongoing population growth in future years. Formerly a farming community, it has gradually begun changing into a more suburban locale.
Single Family Houses For Sale or Lease
The comparatively small size of the town's population to some extent limits the availability of houses for sale or rent here at any given point in time. Prospective buyers discover lots, trailer homes, modular housing and wood frame and brick houses. The vast majority of houses in the community date from previous decades. Recently, developers have constructed some new houses in modern styles.
Most homes in this rural community offer spacious yards with mature landscaping, and some include adjoining acreage. Numerous wood frame single family dwellings populate this location. Paved roads predominate in the community.
Many considerations enter into the formulation of listing prices in this small Massachusetts town. Although exceptions occur, in general standalone wood frame and brick houses command higher prices here than mobile or modular homes of comparable sizes. The former structures usually offer a longer anticipated useful lifespan as residential properties. Important listing price elements may include the location, the age and the size of the property, the construction material, the floorplan, and the presence (or absence) of adjoining acreage.
Since a permanent population has resided here for many years, buyers seeking vintage houses will discover a variety of styles. During recent decades, more home owners have adopted vinyl or aluminum siding as an exterior décor item. An assortment of houses here offer a variety of different floor plans, so prospective purchasers discover architectural diversity within the local marketplace. Whether you seek a rambling ranch house, a trendy split level, or a Colonial style wood frame dwelling, you may discover your dream home in this location!
Lots become available in the town from time to time. Much of the new construction during the past few decades appears to have resulted from buyers purchasing lots for eventual custom home construction. Some lots include wooded terrain. Prospective buyers hoping to locate residential property with adjoining acreage within commuting distance of Boston or Providence may discover some attractive options in this locale!
Condos/Townhouses For Sale or Lease
Reportedly, some condo properties do become available in this marketplace from time to time. However, the small size of the community, coupled with the predominantly rural locale and the availability of land for single home construction, has likely served to limit the establishment of residential communities here. Prospective condo and townhome buyers will need to search diligently to locate vacancies in this type of low-maintenance property in this location.
Condominium and townhome communities managed by condo associations typically appeal to busy people who prefer to pay a management association to exercise responsibility for the performance of exterior maintenance and grounds keeping. Most of these residential communities charge property owners an annual, quarterly or monthly fee to cover these expenses. Frequently, residential condo and townhome communities also offer in-demand group amenities, such as social clubs, athletic centers, or golf courses.
Residential communities differ significantly in the level of control exercised by their management associations. Currently, property seekers in Massachusetts discover condo associations of variable sizes. Just like homeowners associations, these bodies usually seek to maintain property values by ensuring the homes in the community appear attractive and well maintained. Buyers may obtain residential units within condominium or townhome communities directly from developers, or by purchasing properties from home owners.
If you cannot locate a property meeting your specifications within a condominium or townhome community in this small town, you might consider either extending the time frame of your search to include a longer waiting period, or widening your geographic search parameters. While condos and townhomes reach the market frequently in populous areas, some small towns (but not all) lack a generous selection of these developments. Given its position nearly halfway between Boston and Providence, possibly more condo and townhome units will become available in this community during coming years.
Apartments For Rent
People seeking rental properties in this location may experience an easier time locating standalone housing for rent than finding a rental apartment per se. For many years during the 1900s, the community served primarily as an agricultural center and it did not maintain a large population or develop an especially diverse economy. The appreciation of residential prices has occurred only comparatively recently.
Fewer incentives often exist for landlords to make extensive capital investments in farming communities than in populous urban locations where employees change their work locations with some frequency. For example, it may prove easier for an investor to purchase an existing home as a rental property than to invest in the construction of a brand new multi-unit building. Possibly this situation has impacted the housing market in this town.
Some apartments do reach the rental marketplace in this location from time to time. They occur primarily either within small buildings offering a few rental units, or within houses modified to provide apartments. Although some group facilities reportedly exist within the town, the community does not yet appear to maintain a vigorous rental marketplace for apartments.
Fortunately for people seeking apartments for rent in this area, apartment complexes offer rental units in many nearby communities today. If you cannot locate an apartment meeting your requirements at the time you conduct a search for a rental in this town, you might find it useful to extend the scope of your hunt and look in larger nearby communities that possess a more diversified economic base. You might also consider adding your name to waiting lists within apartment complexes that appeal to you here. People seeking apartments for rent in this location in advance of a pending relocation should begin their search at the earliest possible date.
At Your Service
Across all residential real estate category types, the mean gross listing price of property in this town recently stood at $209 per square foot. This value stands well below prices within the Boston Metro Area, but considerably above the national average. Buyers should appreciate that in rural towns, where considerably fewer property transactions typically occur during a typical year than in large cities, the sale of a few high-end or low-end properties in the community may exert a significant impact on the median or mean price of realty.
With the median list price of housing in this community still well below $500,000, property here appeals to many people seeking to relocate into the region. This area offers a variety of selections and some attractive values. Prospective buyers who consider purchasing lots in newly paved areas should check to determine the possible presence of special assessments or fees due to improvements.
If you've considered moving to this area, you'll discover many useful services offered by Boston City Properties. Ask us to help you search for property here. If you share your requirements for your next home with us, we'll notify you when we become aware of a home meeting your specifications and your preferred price parameters. We strive to help people relocating into this appealing locale.
We also assist realty investors. This city's choice location within commuting distance of both Boston and Providence contributes to its attractiveness to some prospective buyers. As metropolitan areas expand in various locations around the United States, places which maintained a rural character during former decades have increasingly become urban and suburban. You may discover some exciting properties of interest to you in this Massachusetts community!
People considering placing a residence on the market in this town will also appreciate services provided by Boston City Properties. Determining a competitive market listing price often causes anxiety for home owners. Setting a sale price too high may deter some prospective buyers and result in extended marketing time periods. Yet asking too low a price may unnecessarily sacrifice some of the equity you've developed in your home. Request experienced help from us as you struggle to identify important trends impacting sales prices in this location.
Obtain Personal Assistance
Do you plan to buy or sell real estate in Medway in the near future? Consider contacting Boston City Properties to obtain expert assistance. We serve home seekers, realty sellers, and landlords in this unique marketplace. Our firm supplies knowledgeable, skilled services.
To speak with us, simply call 617-247-1933. You can also use our convenient website contact form. We want to help you achieve your goals as you learn more about this growing community on the outskirts of the thriving Greater Boston Metropolitan Area!
Medway Condo Developments
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