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.
Methodology: NeighborhoodScout uses over 600 characteristics to build a neighborhood profile… Read more about Scout's Real Estate Data
With 30,524 people, 8,956 houses or apartments, and a median cost of homes of $1,972,678, 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 71.81% of Wellesley's homes, and 59.22% have either three or four bedrooms, which is average sized relative to America.
The housing in Wellesley was primarily built before 1939 ( 34.92%), 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 ( 31.79%), followed by between 1970-1999 ( 16.72%). There's also some housing in Wellesley built between 2000 and later ( 16.57%).
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 106.16%, which ranks in the top 30% nationwide. This equates to an annual average Wellesley house appreciation rate of 7.50%.
Appreciation rates are so strong in Wellesley that despite a nationwide downturn in the housing market, Wellesley real estate has continued to appreciate in value faster than most communities. Looking at just the latest twelve months, Wellesley appreciation rates continue to be some of the highest in America, at 8.10%, which is higher than appreciation rates in 71.27% of the cities and towns in the nation. Based on the last twelve months, short-term real estate investors have found good fortune in Wellesley. Wellesley appreciation rates in the latest quarter were at 2.38%, which equates to an annual appreciation rate of 9.87%.
Relative to Massachusetts, our data show that Wellesley's latest annual appreciation rate is higher than 50% 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.
$1,972,678
for Massachusetts
for nation
8,956
$5,462 / per month