Wellesley MA
APPRECIATION RATE TRENDS AND HOUSING MARKET DATA



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Wellesley, MA Real Estate Data

Source & Methodology

Analytics built by:   Location, Inc.

Raw data sources:   American Community Survey (U.S. Census Bureau), U.S. Department of Housing and Urban Development, Federal Housing Finance Agency.

Date(s) & Update Frequency:
  • Home Values, Rents: Reflects Q3 2019. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2017 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more

Wellesley Housing Market Information

With a population of 29,673, 8,658 total housing units (homes and apartments), and a median house value of $1,379,943, Wellesley house prices are not only among the most expensive in Massachusetts, Wellesley real estate also is some of the most expensive in all of America.

Wellesley is a town of large, single-family homes. In fact, there is a higher proportion of four, five or more bedroom homes in Wellesley than is found in 98% of the communities in America.

The large homes that make up Wellesley are primarily owner-occupied ( 69.77%).

The housing in Wellesley was primarily built before 1939 ( 38.47%), making the housing stock in Wellesley some of the oldest overall in America, although there is a range of ages of homes in Wellesley. The next most important housing age is between 1940-1969 ( 35.43%), followed by between 1970-1999 ( 14.00%). There's also some housing in Wellesley built between 2000 and later ( 12.10%).

Wellesley Home Appreciation Rates

Appreciation rates for homes in Wellesley have been tracking above average for the last ten years, according to NeighborhoodScout data. The cumulative appreciation rate over the ten years has been 38.63%, which ranks in the top 30% nationwide. This equates to an annual average Wellesley house appreciation rate of 3.32%.

NeighborhoodScout's data show that during the latest twelve months, Wellesley's appreciation rate, at 3.62%, has been at or slightly above the national average. In the latest quarter, Wellesley's appreciation rate has been 1.12%, which annualizes to a rate of 4.56%.

Relative to Massachusetts, our data show that Wellesley's latest annual appreciation rate is higher than 70% of the other cities and towns in Massachusetts.

One very important thing to keep in mind is that these are average appreciation rates for the town. Individual neighborhoods within Wellesley differ in their investment potential, sometimes by a great deal. Fortunately, you can use NeighborhoodScout to pinpoint the exact neighborhoods in Wellesley - or in any city or town - that have the best track record of real estate appreciation, by the latest quarter, the last year, 2 years, 5 years, 10 years, or even since 2000, to assist you in making the best Wellesley real estate investment or home purchase decisions.

Average Home Values

 

Median Home Value:
$1,379,943

Wellesley, MA HOME PRICES

Value Range
> $1,175,000 51.5
$881,001 - $1,175,000 27.2
$588,001 - $881,000 14.3
$470,001 - $588,000 2.6
$353,001 - $470,000 1.1
$235,001 - $353,000 1.4
$118,001 - $235,000 1.5
$59,001 - $118,000 0.1
$0 - $59,000 0.3

Very High for MA
Very High for Nation

Value Relative to Nation Value Relative to State
0.595620437956204 0.641025641025641

Number Of Homes And Apartments:
8,658

Wellesley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2019 Q2 - 2019 Q3
Last 12 Months:
2018 Q3 - 2019 Q3
Last 2 Years:
2017 Q3 - 2019 Q3
Last 5 Years:
2014 Q3 - 2019 Q3
Last 10 Years:
2009 Q3 - 2019 Q3
Since 2000:
2000 Q1 - 2019 Q3
84.11% 3.14%
8
8
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,566 / per month

Homeownership Rate

Homeownership
Owners 69.77
Renters 30.23
Vacant 6.11

Housing Market Details

 

Age of Homes

AGE OF Wellesley HOMES
2000 or Newer 12.1
1970 - 1999 14.0
1940 - 1969 35.4
1939 or Older 38.5

Types of Homes

TYPE OF Wellesley HOMES
Single-Family 81.5
Townhomes 3.0
Small Apt. Buildings 4.8
Apt. Complexes 10.7
Mobile Homes 0.1
Other 0.0

Home Size

SIZE OF Wellesley HOMES
No Bedroom 1.10
1 Bedroom 5.10
2 Bedrooms 14.54
3 Bedrooms 22.83
4 Bedrooms 33.43
5 or more bedrooms 23.00