Where to Find More Affordable Real Estate Near Boston

Finding a good deal on real estate in MA is harder than ever. In the greater Boston area, anyway, it is a seller’s market. Something like 40% of homes are selling over the listing price, and first-time home buyers are having to compete with cash buyers, or losing bidding wars. In Dorchester you will be hard-pressed to find a single or multi-family under $500,000. The market is just about back to where it was before things crashed in 2008.

However, there are still a few places where a bargain can be found. According to Frank Holland at WCVB, you can find a decent home in Revere, Stoughton, or Marlboro in need of some cosmetic updating for under $300,000. All 3 of these towns have this in common: the median listing price is still 20% below the all time highest prices of 10 years ago. There is still room for upward growth in these places, if you are willing to put in a little work, And it may well be worth it, considering the potential growth of your investment in the coming years.

Personally, I am a fan of Boston’s South Shore. For some reason the commuter line seems to be more efficient here than some of the other metro areas, and there are just as many lovely, family-friendly towns here as there are West of Boston. Except here, the ocean is a bit closer! If you are looking for a place to raise a family, within a manageable commute to Boston, with good schools, and that quaint small-town New England feel, and you are hoping to spend less, check out Walpole.

In Walpole, the median sales price is around $270,000, the lowest school rating is 8 out of 10, and it is safe, quiet, and convenient to Boston. Here is what Eric H. , (visitingnewengland.com) says about Walpole:

“Walpole, Mass., about 18 miles southwest of downtown Boston, is surely one of those towns with its downtown seemingly stuck in another time.  With three town commons, churches with tall white steeples, tree-lined side streets and predominantly locally-owned shops (in the center), Walpole might not share the rampant commercial and industrial growth of nearby towns, but it does have an appeal to those who like a quiet, quaint historical town with plenty of community spirit and open spaces. It’s really an underrated gem of a town — a nice place to raise a family, take a nice evening walk and attend seasonal community events.”

So, if you are feeling frustrated by the steep prices and competition in the city, consider going a little farther than Braintree, and you may be pleasantly surprised by how far your dollar can stretch!