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 2018 residential tax rate is 10.24%.

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

Residential Sales: Medford, MA

Comparison of Homes Sold

Year End 2016 & 2017 (January 1 – December 31) and 2018 Year To Date as of September 30, 2018

# SoldAvg. Sale $Median Sale $SP:OP
YE 2016227$447,382$430,000101%
YE 2017216$496,274$480,000103%
YTD 2018155$541,747$529,999103%
Single Family
YE 2016281$537,162$515,500101%
YE 2017276$601,820$597,000103%
YTD 2018189$625,790$615,000103%
YE 2016109$669,825$650,000103%
YE 201783$778,037$757,000105%
YTD 201878$868,628$826,150100%

SP:OP = Sales Price to Original Price Ratio.  Data Source: MLS Pinergy®
©2018 Intellectual property of Tamela Roche, all rights reserved.

Residential Inventory: Medford, MA

Year End 2016 – 2017 Comparison of Homes Listed for Sale (January 1 – December 31)

YE 2016YE 2017% Change
Condo:247230- 7 %
Single-Family:288327+ 13 %
Multi-Family11897- 18 %

Data Source: MLS Pinergy®
©2018 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 the past ten years.