Medford, MA

Medford, MA


Medford, Massachusetts is located 3.2 miles northwest of downtown Boston, MA on 8.1 square miles of land. Settled in 1630 and incorporated as a city in 1892, Mayor-City Council is the style of governance. With a population of 56,173 residents, the average household size is 2.38 persons and median household income is $77,868. Of 24,046 total housing units, 54% are owner-occupied, 41% rented and 5% vacant.  Of 617 residential properties sold in 2016; 45% were Single Family, 37% Condominium and 18% Multi-Family. Fiscal year 2017 residential tax rate is 10.56.

Sources: U.S. Census Bureau 2010-2014; City of Medford, MA; MLS Pinergy®

Residential Sales: Medford, MA

Year End 2015 – 2016 Comparison of Homes Sold (January 1 – December 31)

# SoldAvg. Sale $Median Sale $SP:OP
Condo
YE 2015204$396,212$384,000102%
YE 2016227$447,382$430,000101%
Single Family
YE 2015296$484,276$463,500102%
YE 2016281$537,162$515,500101%
Multi-Family
YE 201588$633,505$620,000103%
YE 2016109$669,825$650,000103%

SP:OP = Sales Price to Original Price Ratio.  Data Source: MLS Pinergy®
©2017 Intellectual property of Tamela Roche, all rights reserved.

Residential Inventory: Medford, MA

Year End 2015 – 2016 Comparison of Homes Listed for Sale (January 1 – December 31)

YE 2015YE 2016% Change
Condo:243247+ 1 %
Single-Family:345288- 17 %
Multi-Family119118- 1 %

Data Source: MLS Pinergy®
©2017 Intellectual property of Tamela Roche, all rights reserved.


Contact Tamela to schedule a Professional Marketing Consultation for the sale of your home or a Home Buyer Consultation to begin your new home search.  All Clients receive the Residential Market Analysis® by Tamela with comprehensive market data and home sale trends from year end 2004 through 2016.