Location & Governance

Medford, Massachusetts is located 3.2 miles northwest of downtown Boston and comprised of 8.1 square miles of land.  Settled in 1630 and incorporated as a city in 1892; “Mayor-City Council” is the style of governance.

Housing Overview

With a population of 56,173 residents, the average household size is 2.38 persons and the median household income is $77,868.  Of 24,046 total housing units, 54% are owner-occupied, 41% are rented and 5% are vacant.  The Fiscal Year 2021 residential tax rate for Medford, MA is 9.41%.

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

Residential Sales 2019 – 2021:  Medford, MA

The statistics below provide a comparison of Condominium, Single Family, and Multi-Family homes sold in 2019, 2020, and the first quarter of 2021 in Medford, MA.

# SoldAvg. Sale $Median Sale $SP:OP
Condo
YE 2019201$551,214$540,00098%
YE 2020214$601,186$569,000100%
Q1 202179$630,641$617,50099%
Single Family
YE 2019281$656,173$630,000100%
YE 2020270$707,384$671,000101%
Q1 202161$759,195$742,000100%
Multi-Family
YE 2019101$846,758$810,000$100%
YE 202080$905,987$888,250100%
Q1 202127$847,222$827,00096%

SP:OP = Sales Price to Original Price Ratio.  Data Source: MLS Pinergy®
©2021 Intellectual property of Tamela Roche, all rights reserved.

Residential Inventory 2019 – 2020:  Medford, MA

The statistics below provide a comparison of the total number of Condominium, Single Family, and Multi-Family homes listed for sale in 2019 and 2020 in Medford, MA.

YE 2019YE 2020
Condo:272326
Single-Family:324338
Multi-Family129110

Data Source: MLS Pinergy®
©2021 Intellectual property of Tamela Roche, all rights reserved.

 


Tamela Roche, RealtorContact Tamela to schedule a Seller or Home Buyer Consultation to prepare for the sale of your home or to begin your new home search.  All Clients receive the Residential Market Analysis by Tamela with comprehensive market data and historical home sale trends.