Stoneham, MA Real Estate
Single-Family Houses for Sale
Single-family housing in Stoneham run the full range from the latest modern designs to fully restored New England classics. The median home value of $523,400 in early 2018 is a rate expected to stay steady and increase. Those who want to buy a house and be assured of its power as an investment will certainly want to keep this town in mind.
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From 2017-2018, home values went up 8.7 percent, with an expected continued rise of 3.9 percent over another year. Median price per square foot is $298, making the price higher than the greater Boston area's overall median of $263. As far as homes listed and sold go, the median listing price is $459,000 with a median sold price that averages $410,500.
Because the prices are steady and increasing, buying is a wise choice in this area. Buyers who have an inclination to resell the home eventually will enjoy knowing that they have a good chance of selling the house at a decent profit. The steadily increasing prices are a good way of retaining the home's equity long-term.
One of the good things about buying a home in this particular market is that the market health in 2017 was good. The number of homes with negative equity at 5 percent was half of the national average of 10 percent. For homes that were delinquent on mortgages, the rate of .8 percent was lower than the 1.6 percent of the national average.
Market health is a factor that can help influence buyers who are undecided. Market health is a good indicator of a house in a town retaining its pricing over the longer term. Buyers should be able to make decisions based on the best possible choices, including a good knowledge of the market's health.
Single-family houses in this area include options in some of the most popular neighborhoods. Bear Hill is one of the top neighborhoods in town for overall access to transportation. Any neighborhood close to the center of town will offer great value because of its proximity to Routes 93 and 28, as well as theatre, shopping and dining options.
The amenities both inside and outside many homes here are always worth a look. Newer homes and older homes that have seen upgrades boast updated heating and electrical systems, granite countertops, and added wine fridges. Outside amenities include patios accessed with sliding glass doors, barns and outbuildings especially popular with 19th-century construction, and larger backyard areas.
There are several unique home styles, including houses of 1880's construction that still retain much of the original woodwork. Split-level homes are a great contemporary option for buyers who want to maximize the amount of space they use. Tudor homes with brick construction are also a popular option for those looking for a house that has a nice touch of history.
This town is a good one to keep at the top of the list for Boston area properties. Anyone who buys here will enjoy the quiet of suburban living with easy access to city amenities.
Condos/Townhouses for Sale
There are numerous options for condos and townhomes in this small town that will suit a broad range of budgets and tastes. One of the best things about the condo options is their roominess and proximity to town. The major routes to Boston and other surrounding towns add to the convenience that condo and townhouse-seekers will find with living in this area.
Median listing prices for condos in this area is $529,000. This figure is expected to rise as more buyers start choosing these Middlesex County suburbs for real estate. Because of the upward trend in condo and townhome prices, buyers are likely to see a good return, in the long run, should they decide to ultimately sell the condo or townhome.
Sales listing prices have stayed stable, with the listing prices having risen between 2017 and early 2018. New condo developments and renovations on existing buidings seeing conversion into condos are expected to keep fueling demand for this housing. With an expected increasing demand being the case, would-be buyers will want to carefully consider the many possibilities that await when they choose this area.
The average number of days on the market for most condos and townhomes is 42, which has come down from earlier averages of 60 days or more. The number of active listings at any time averages from 10 to over 20 for condos, representing the high demand for those properties in the area. Because this area is in increasingly high demand, acting sooner rather than later in getting a condo is a wise decision to make.
Price per square foot in most condos averages $296. This price is higher than the state average overall. However, in conmparison with prices in the greater Boston area, the price is lower than average, making it easier to keep to a specific budget.
One of the best things that condo buyers will discover is how much of a range of different condo properties they can shop. Some popular options are in buildings and complexes originally designed as apartments. Other options that are popular with buyers are condos housed in conversions from single-family housing. There have also been new developments recently built that have the top amenities buyers look for the most.
One bed and one bath studio-style units with open floor plans are popular choices. A majority of the units overall boast a minimum of two bedrooms and two baths. Kitchen upgrades with stainless steel appliances, open-concept living/kitchen/dining areas, and pendant or recessed lighting are just a few of the highlights found in many of these units.
Deeded parking spaces are a feature of many condos, saving the trouble of having to look for a space. For those who forego traveling by car all the time, most condo buildings offer quick access to rail and bus stops. Most of these buildings also feature a washer and dryer or connections for yours, so you'll save time not having to take your laundry elsewhere.
Apartments for Rent
With at least two or three dozen apartment units for rent at most times, those on the search for the ideal rental will benefit from seeing what's available in this town. Median rental prices are $2,500 per month and represent a 52 percent increase since 2017. Luxury apartments have traditionally been well-represented in this area, as well as condos that owners decide to invest from by renting them out. One of the best features of apartments in this area is that there are units to suit virtually every preference.
Driving times to surrounding towns are usually quite reasonable, even with the proximity to Boston. Main roads like Route 28 offer easy access to dining, shopping and other amenities that this town boasts. Having access to so many things to do in this area without an extended driving time is always a good feature. Several nearby towns like Melrose, Medford, Wakefield, and Winchester also increase the range of possibilities. Most of the apartments in the area offer a full range of amenities that help make life easier so you can spend more time enjoying life in your chosen rental.
One of the biggest advantages of apartments in this area is that many of them boast the amenities in highest demand. Two or three bedrooms are the most popular choices, but those seeking large apartments with more than three bedrooms will also have a good selection to take advantage of in their search. Studio apartments with one bedroom and one full bath are also in demand. These units usually feature designs that incorporate amenities that renters want the most or have undergone renovations that include desired amenities. In either case, would-be renters have a good pool of properties to choose from to meet their needs.
Community amenities make a major difference in all apartments. Controlled access offers greater privacy for residents of many newer buildings. Garage parking or deeded spaces help ensure that residents always have access to convenient spaces without having to park out on the street. Some communities offer unique amenities in-house that will save you a lot of trips. Some of these possibilities that you might encounter include fitness rooms, pet areas, and on-site laundry facilities.
Apartment buildings with multiple stories here often offer balconies and sundecks that give residents an opportunity to get out and enjoy the fresh air. Many of these balcony and deck areas are large enough to accommodate chairs and small tables. The kitchens in many apartments have abundant cabinet space and newer appliances.
Some apartments are conversions in older homes near the town's center, as well as duplex buildings. One of the major advantages of these types of apartments is that they offer increased parking and sometimes yard space. They are also similar in many ways to single-family houses, making a good option for renters who may have otherwise chosen a single-family house.
Residents of apartments in this area can visit a variety of outdoor areas, including the Middlesex Fells Reservation. MBTA stations are very accessible, allowing residents to reach North Station in Boston within about 20 minutes. With so many options for transport, an apartment in this area offers maximum convenience.
The Local Housing Market
The local housing market is one that has consistently remained good. Three-year trends have helped reveal a lot about the overall health of the housing market across all housing types. These trends have revealed the steadily rising median listing prices and listing prices per square foot. Another steady indicator of health is the declining median days on the market.
Because there are so many options for housing in the town to choose from, it is important for potential buyers or renters to know how to narrow down the choices. Open houses are one of the most effective tools that housing customers can use to get a better idea of what the market holds. Because of the number of housing options in the area, prospective buyers will want to use every tool that can help give them a better assessment of what awaits them when they ultimately buy or rent the property that suits their needs best.
Although median home sales prices have consistently risen across all property types, there are interesting trends over the past five years that are of note. Properties with two bedrooms have seen the highest growth, with one-bedroom properties coming in a close second. Although properties with three or four bedrooms have seen more modest growth, the median sales prices have risen over a five-year period, instead of falling. Because of the steady increase in prices, buyers will have a good assurance of their home's value remaining high. Since potential resale value is an important consideration, you will want to take these statistics in mind.
By contrast, rental prices over a two-year's time have fluctuated more than sale prices, with rental prices seeing their peak in December 2016 to January 2017. Prices decreased and have stayed at a level amount since August 2017. In the light of rental prices having stayed at a steady level, the number of available rentals has decreased with falling prices. The demand for rentals reaches its highest during late summer and early fall months. During these months, would-be renters might see the prices for rentals rise. The housing market in this city is one that is very closely tied to local, seasonal demands in some cases.
One of the most important things that buyers and renters will note is how much variety there is in local properties, often making it seem like the number of choices is overwhelming. Fortunately, that's where our searchable databases come into play. The listings contain all the in-depth information that you need to make a good choice. We can also help get you in touch with real estate experts to help make the process easier. When you're buying or renting real estate in this town, you're certain to have questions. Our professionals will help you through the process, and help answer any of your questions.
Stoneham Condo Developments
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