Massachusetts Towns with Highest Condo Prices

Condos are extremely popular in Boston right now and while some neighborhoods, such as Cambridge and Davis Square are expectedly quite popular, some other areas nearby are gaining quite a bit of attention from potential condo buyers.

Towns such as Lexington, Plymouth and Everett all scored double-digit condo price increases.

Plymouth saw the largest increase in condo prices with more than a 50% increase in 2014 by the end of July—according to The Warren Group.

Home of the Pilgrims and a growing number of upscale condos, Plymouth is the condo price leader by a mile so far this year, with a more than 50 percent leap through the end of July, according to The Warren Group. The median price hit over $358,000 and 100 condos had sold by the end of July.

Everett is another town that saw large condo price increases, which may only continue with the possibility of the $1.6 billion casino that may be built in the city by Steve Wynn. The median condo price has increased over 34%, hitting $236,500 by the end of July.

Lexington has also seen some significant condo price increases with the median price hitting $575,000 as a result of a 32.6% increase. While this is certainly less expensive than the towns median single-family price of $950,000, it’s still a decent investment.

Here are a few additional towns that saw significant condo price increases this year:

• Melrose saw a 32.4% increase, hitting a median condo price of $290,000.
• Allston saw a 28% increase, hitting a median condo price of $357,000.
• Arlington saw a 22% increase, hitting a median condo price of $433,750.

While most of these towns may not compare in price with Cambridge’s median condo price of $566,500 or Somerville’s median condo price of $475,750, the increases are certainly significant within the markets of the individual towns.

Hoping to purchase a luxury condo this fall or winter? Contact a Boston real estate firm that specializes in high-end properties.