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 Q1 2021. Updated quarterly.
  • Setting, Housing Stock, Homeownership: 2019 (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 28,670 people, 8,449 houses or apartments, and a median cost of homes of $1,463,952, 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 67.83% of Wellesley's homes, and 57.69% have either three or four bedrooms, which is average sized relative to America.

The housing in Wellesley was primarily built before 1939 ( 36.69%), 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 ( 33.36%), followed by between 1970-1999 ( 15.92%). There's also some housing in Wellesley built between 2000 and later ( 14.03%).

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 41.54%, which ranks in the top 50% nationwide. This equates to an annual average Wellesley house appreciation rate of 3.54%.

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 1.73%, 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 1.50%, which equates to an annual appreciation rate of 6.15%.

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:
$1,463,952

Wellesley, MA HOME PRICES

> $1,103,000
59.9%
59.9%
$827,001 - $1,103,000
25.6%
25.6%
$551,001 - $827,000
9.7%
9.7%
$441,001 - $551,000
1.3%
1.3%
$331,001 - $441,000
0.6%
0.6%
$221,001 - $331,000
0.8%
0.8%
$110,001 - $221,000
0.8%
0.8%
$55,001 - $110,000
0.1%
0.1%
$0 - $55,000
1.1%
1.1%
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:
8,449

Wellesley Appreciation Rates

 
Time Period Total Appreciation Avg. Annual Rate Compared To
MA*
Compared To
America*
Latest Quarter:
2020 Q4 - 2021 Q1
Last 12 Months:
2020 Q1 - 2021 Q1
Last 2 Years:
2019 Q1 - 2021 Q1
Last 5 Years:
2016 Q1 - 2021 Q1
Last 10 Years:
2011 Q1 - 2021 Q1
Since 2000:
2000 Q1 - 2021 Q1
89.63% 3.06%
7
7
* 10 is highest

Rent & Ownership

 

Average Market Rent:
$4,226 / per month

Homeownership Rate

Owners
67.8%
67.8%
Renters
32.2%
32.2%
Vacant
5.3%
5.3%
0.0% 100.0%
% OF HOMES

Housing Market Details

 

Age of Homes

2000 or Newer
14.0%
14.0%
1970 - 1999
15.9%
15.9%
1940 - 1969
33.4%
33.4%
1939 or Older
36.7%
36.7%
0.0% 100.0%
% OF HOMES

Types of Homes

Single-Family
81.1%
81.1%
Townhomes
3.5%
3.5%
Small Apt. Buildings
5.7%
5.7%
Apt. Complexes
9.6%
9.6%
Mobile Homes
0.1%
0.1%
Other
0.0%
0.0%
0.0% 100.0%
% OF HOMES

Home Size

No Bedroom
0.6%
0.6%
1 Bedroom
5.9%
5.9%
2 Bedrooms
12.3%
12.3%
3 Bedrooms
24.2%
24.2%
4 Bedrooms
33.5%
33.5%
5 or more bedrooms
23.5%
23.5%
0.0% 100.0%
% OF HOMES