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
| # Sold | Avg. Sale $ | Median Sale $ | SP:OP | |
| Condo | ||||
| YE 2016 | 227 | $447,382 | $430,000 | 101% |
| YE 2017 | 216 | $496,274 | $480,000 | 103% |
| YTD 2018 | 155 | $541,747 | $529,999 | 103% |
| Single Family | ||||
| YE 2016 | 281 | $537,162 | $515,500 | 101% |
| YE 2017 | 276 | $601,820 | $597,000 | 103% |
| YTD 2018 | 189 | $625,790 | $615,000 | 103% |
| Multi-Family | ||||
| YE 2016 | 109 | $669,825 | $650,000 | 103% |
| YE 2017 | 83 | $778,037 | $757,000 | 105% |
| YTD 2018 | 78 | $868,628 | $826,150 | 100% |
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 2016 | YE 2017 | % Change | |
| Condo: | 247 | 230 | - 7 % |
| Single-Family: | 288 | 327 | + 13 % |
| Multi-Family | 118 | 97 | - 18 % |
Data Source: MLS Pinergy®
©2018 Intellectual property of Tamela Roche, all rights reserved.
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