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Wellesley, MA Real Estate Market

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 Q2 2022. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2020 (latest available). Updated annually.

Methodology:   NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data

Wellesley, MA Housing Market Trends

With a population of 29,550, 8,326 total housing units (homes and apartments), and a median house value of $1,438,370, 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.

Owner-occupied, three and four bedroom dwellings, primarily in single-family detached homes are the most prevalent type of housing you will see in Wellesley. Owner-occupied housing accounts for 69.13% of Wellesley's homes, and 58.75% have either three or four bedrooms, which is average sized relative to America.

At the end of World War II, American soldiers returned home triumphant and, with the help of the GI Bill, built homes by the millions on the edges of America's cities. These homes were predominantly capes and ranches, modest in size, but built to house a growing middle-class as the 20th century became the American century. Wellesley's housing was primarily built during this period, from the '40s through the '60s. A full 34.17% of the town's housing hails from this era. Other housing ages represented in Wellesley include homes built before 1939 ( 33.62%) and housing constructed between 1970-1999 ( 17.30%). There's also some housing in Wellesley built between 2000 and later ( 14.90%).

Wellesley Home Appreciation Rates

Real estate appreciation rates in Wellesley's have tracked to near the national average over the last then years, with the annual appreciation rate averaging 4.46% during the period.

Over the last year, Wellesley appreciation rates have trailed the rest of the nation. In the last twelve months, Wellesley's appreciation rate has been 7.38%, which is lower than appreciation rates in most communities in America. In the latest quarter, NeighborhoodScout's data show that house appreciation rates in Wellesley were at 1.59%, which equates to an annual appreciation rate of 6.51%.

Notably, Wellesley's appreciation rate in the latest quarter is one of the lowest in America.

Relative to Massachusetts, our data show that Wellesley's latest annual appreciation rate is lower than 90% 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:
$1,438,370

Wellesley, MA HOME PRICES

> $1,127,000
$845,001 - $1,127,000
$564,001 - $845,000
$451,001 - $564,000
$338,001 - $451,000
$225,001 - $338,000
$113,001 - $225,000
$56,001 - $113,000
$0 - $56,000
64.1%
64.1%
22.8%
22.8%
9.8%
9.8%
0.7%
0.7%
0.5%
0.5%
1.0%
1.0%
0.2%
0.2%
0.0%
0.0%
0.9%
0.9%
0.0% 100.0%
% OF HOMES
Value Relative To State

Very High for Nation

Very High for MA

Value Relative To Nation

Number Of Homes And Apartments:
8,326

Wellesley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2022 Q1 - 2022 Q2
Last 12 Months:
2021 Q2 - 2022 Q2
Last 2 Years:
2020 Q2 - 2022 Q2
Last 5 Years:
2017 Q2 - 2022 Q2
Last 10 Years:
2012 Q2 - 2022 Q2
Since 2000:
2000 Q1 - 2022 Q2
109.99% 3.35%
4
5
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$3,543 / per month

Homeownership Rate

Owners
Renters
Vacant
69.1%
69.1%
30.9%
30.9%
4.8%
4.8%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
1970 - 1999
1940 - 1969
1939 or Older
14.9%
14.9%
17.3%
17.3%
34.2%
34.2%
33.6%
33.6%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
Townhomes
Small Apt. Buildings
Apt. Complexes
Mobile Homes
Other
82.3%
82.3%
3.5%
3.5%
4.9%
4.9%
9.2%
9.2%
0.2%
0.2%
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
1 Bedroom
2 Bedrooms
3 Bedrooms
4 Bedrooms
5 or more bedrooms
0.6%
0.6%
4.5%
4.5%
12.5%
12.5%
25.0%
25.0%
33.7%
33.7%
23.7%
23.7%
0.0% 100.0%
% OF HOMES