Wellesley, MA Real Estate
Boasting of historic architecture and an affluent environment, this town is a part of Norfolk County. Located within the Greater Boston area, this community includes historic districts and a beautiful location. For a unique property, residents can check out the homes around Cottage Street. This area consists of homes that were constructed during the 1860s and was recently designated as a historic district by the city.
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This quaint town is placed within eastern Massachusetts. On the west, residents will find the town of Natick. The communities of Dover and Needham are on the south. While Newton is on the east, Weston borders the town on the north.
Residents can choose between several different neighborhoods in the area. Some of the most popular areas are Poets' Corner, Sheridan Hills, Babson Park and Wellesley Hills. Residents can also live in Wellesley Farms, Lower Falls, Wellesley Square and Wellesley Fells.
Single-Family Houses for Sale
Within this gorgeous community, residents will find different architecture in the various residential neighborhoods. Outside of the quaint town square, residents will find a diverse housing stock. The architecture in this home includes Victorian, Colonial, Cape and Tudor styles. No matter what type of home residents are looking for, they can find charming options within this affluent area.
This town has managed to retain a charming, beautiful housing stock over the years. In an effort to prevent too many McMansions, the town instituted zoning rules about the size of new homes. One local regulation has required that garages be included as a part of the home's living area. The zoning rules generally allow residents to have 10,000 to 40,000 square feet or more for their lots.
Known for having some of the most expensive homes in the state, this area is full of luxury options and high-end real estate. In the last year, the median home price has increased by $70,000. It advanced by 6 percent to reach a price of $1,330,000. During the same time period, the average price per square foot rose from $485 to $503.
Two-bedroom and one-bedroom homes tend to sell for less in the area, but they are still priced higher than homes in surrounding communities. For a one-bedroom home, residents can expect to pay $699,000. Meanwhile, a two-bedroom property fetches a median sales price of $677,500. Residents in the area can expect to pay about $913,500 for a three-bedroom house. To buy a four-bedroom home in the town, residents will generally pay a median price of $1,385,000.
Because of the desirability of this area, properties are only expected to rise in value in the near future. Residents who want a starter home can consider some of the city's many townhouses and condominiums. Luxury home shoppers will find more than enough options to suit their needs.
Condos and Townhouses for Sale
With a strong luxury market and high residential prices, this area is an ideal spot for investors. As single-family homes rise in value, many residents are turning to condominium properties as a first investment choice. Luckily, this city has more than enough luxury properties available for residents. With new condominiums being built all the time, residents can quickly find their dream home within this charming town.
One example of condos in the area can be found at the Linden Square Townhomes. Placed within a quiet neighborhood, these beautiful townhomes were originally constructed in 1967. Over the years, they have been meticulously maintained for a thoroughly modern appearance. Within this suburban setting, residents will find luxury amenities like gas fireplaces and marble backsplashes. From the living room, gorgeous French doors lead onto to exclusive, landscaped patio. A spiral staircase connects the first floor and the second floor.
Designed with spacious layouts, the units at the Linden Square Townhomes are equipped with deeded parking spots. Encompassing a total of 64 units, these townhomes are offered with 1,246 square feet of living space. Residents will find two-bedrooms in every home. Equipped with plenty of closet space, the complex also includes lush courtyards and ample storage space. Every unit includes stainless steel appliances and plenty of cabinet space.
Located at 12 Russell Road, the Wellesley Hollow Townhomes are placed within the downtown area. Recently built in 2007, these modern townhomes have one-bedroom, two-bedroom or three-bedroom layouts. Each unit contains 1,078 to 1,921 square feet of living space. Designed with 28 units, this complex boasts of an on-site exercise room, elevators and a club room. Within the units, tenants will discover gorgeous, coffered ceilings. The entire townhome is outfitted with lovely hardwood flooring and custom wood detailing. Equipped with a spa-like bathroom, these townhouses boast of private porches, open floor plans and stainless steel appliances. With dark cabinets and a chef's kitchen, these townhomes are truly one of the area's most luxurious properties.
For another condominium property, residents can check out the Wellesley Green Condos. Constructed in 1972, this property includes 149 spacious units. Boasting of well-appointed kitchens, these condos have fireplaces in the living rooms. Abundant windows let in plenty of natural light. From the glass doors, residents can walk out onto their bright balcony and enjoy views of the trees. Each unit is equipped with gorgeous hardwood flooring and private storage. The entire property is protected through 24-hour security. Within the complex, residents will discover professional landscaping, a heated outdoor pool and garage parking. Run by a professional management team, these units are offered in one-bedroom to three-bedroom layouts.
Whether residents want a basic condo or a luxurious townhome, there are many options available within this area. Many of the condominium properties were constructed in the last few decades. They offer a range of amenities, professional management and a convenient location.
Apartments in the Area
Within this area, residents can find a number of rental options. Because of the many schools in this town, a number of rental options are located around the college campuses. Residents will find homes in a variety of different architectural styles. This area includes charming cottages, six-shingle homes and contemporary complexes. Residents can also find apartments like Phillips Park. This cat-friendly building is designed for individuals 55 and older. Placed close to the T station, this property boasts of ample backyard space, private parking spots and laundry facilities. Plus, residents can enjoy living within recently renovated units.
One of the most beautiful complexes in the area is at Hastings Village. Boasting of spacious two-bedroom homes, this rental complex includes 52 luxury apartments. Residents can enjoy having a location that is only minutes away from the downtown area and major roadways. Designed to be exceptionally lavish, these contemporary townhomes boast of ceramic tile, hardwood and carpeted flooring. Within the kitchens, residents will find stainless steel appliances, cherry cabinets and granite counters. Tenants can enjoy having two-sided gas fireplaces and a private balcony or patio. Equipped with walk-in closets, these units include a full-size, in-unit washer and dryer. Residents can enjoy magnificent views of the forest and a private security system. As an added benefit, this pet-friendly community offers furnished apartment options. Plus, tenants can park in the one-car garage or the outside parking spaces.
For luxury homes, residents can check out 978 Worcester Street.. This new, elevator building boasts of high-end amenities like stainless steel appliances, granite counters and gas fireplaces. Tenants can enjoy having an en-suite master bathroom and a spacious deck. Designed with multiple floor plans, these units are outfitted with laundry hookups. Spanning a total of 36 units, this luxury building is equipped with a garage space and a surface lot space for every unit.
To discover a more historic property, tenants can check out the complex at 455 Washington Street. Designed with plenty of cabinet space, these apartments boast of sleek hardwood floors. Spacious closets are designed with mirrored doors that help open up the bedrooms. Within the historic units, residents will find a claw-foot tub and skylights. Each apartment is outfitted with a modern kitchen, standard appliances and multiple closets. Residents at the property can enjoy having a designated parking space. From the property, tenants only have to walk across the street to reach the commuter rail station.
Boasting of a cat-friendly policy, 554 Washington Street offers a variety of different layouts. Within every apartment, tenants will discover gorgeous hardwood floors. Designed with an open layout, these units are equipped with free-standing showers. In the kitchens, residents will find a large pantry and a dishwasher. Between the large windows and the skylights, these apartments enjoy plenty of natural light. As an added benefit, the landlord pays the price of heat.
One of the area's more inexpensive rentals can be found at 8 Grove Street. This small complex has overnight parking options and a well-maintained interior. Renters will find newly painted units with new carpeting. Equipped with beautiful, renovated kitchens, these apartments also have modern bathrooms. Residents can enjoy having a cat-friendly policy and on-site laundry facilities.
Other than standard apartment complexes, residents will also find single-family homes available for rent. These larger properties are generally more expensive and can cost up to $5,000 per month. In addition, the area has a number of large homes that have been subdivided into multiple units. Within these properties, renters can find a charming, historic rental at a fair price.
Depending on the neighborhood and the complex, amenities can vary. Larger complexes typically offer green spaces, pools and similar amenities. At smaller properties, residents will have a community-like atmosphere with basic options like laundry facilities and 24-hour maintenance. No matter what tenants are looking for in an apartment home, this city has plenty of options available.
Recent Housing and Rental Market News
In recent years, this town's housing market has started a teardown trend for older homes. Smaller, older properties have been torn down to make room for newer, more expensive homes. In this marketplace, any home that costs less than $1 million is considered a starter home.
This trend began in 2015 when only 114 homes sold for less than $1 million. Out of this number, 36 of those properties was sold directly to a builder. Once sold, these starter homes are torn down to create luxury properties. In 2015, 95 homes were torn down in the area. During the previous three years, an average of 73 homes were torn down in every year.
Last year, the community began received another proposal for a 40B project. Placed at 16 Stearns Road, this project would be close to a similar one on 680 Worcester Street. Currently, there are three other affordable housing projects in the area that are being constructed. The 1-8 Delanson Circle property will include 95 rental units. Meanwhile, the Worcester Street development will offer 20 rental units. Another 44 units can be found at the Fieldstone Way development at 135 Great Plain Avenue.
The newest proposal will be for 36 units at Stearns Road. Once the project is approved by MassHousing and gets all of the permits, the developers will be able to start construction on it.
The 135 Great Plain Avenue property was originally supposed to include a dozen single-family homes. Because of the smaller profit margin on this type of project, the Concord-based developers decided to change the project into a condominium property. The 12 acres will be redesigned as duplexes and townhouse-style units. The property was originally purchased by the developers in 2014 for $6.5 million. A total of 11 of the 44 units will be set aside for affordable housing.
Right now, only 6.2 percent of the housing inventory in this city is listed as affordable. With the high cost of housing in the area, condominiums like these offer an attractive investment option for buyers. During the first five months of 2017, condos had an average of 48 days on the marketplace before they were sold. In comparison, the typical single-family home is on the marketplace for 131 days.
Wellesley Condo Developments
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