The best time to buy a luxury home in Massachusetts often happens during the first two months of spring.
Home-buying activity in the state typically peaks between March and April, as more properties go on the market. Boston remains one of the most popular cities among real estate investors, partly because of sustained price growth.
Median home prices in Boston cost $650,000 as of February 2022. The median price may cost almost $670,000 in the next 12 months
If you’re looking for alternative communities and neighborhoods in Massachusetts, here are several places with recommended properties from Bassick Real Estate Advisors—the leading luxury property broker in the state.
Back Bay, though, is best known for Victorian brownstone properties that showcase the beauty of urban architecture in the 19th century.
1. Victorian Luxury Houses In Back Bay
This neighborhood’s name originated from being a literal saltwater bay on the shores of Shawmut Peninsula and the Boston Neck.
The area has become a “premier arts and culture center” over several decades, according to the Back Bay Association.
Residents of Back Bay usually take less than 15 minutes by car to reach Boston City. The neighborhood’s proximity to the city center makes it an ideal place to buy luxury properties.
Back Bay, though, is best known for Victorian brownstone properties that showcase the beauty of urban architecture in the 19th century.
Several properties have preserved most of their historical features, with certain townhouses being built since 1886.
The Brookline town in Boston’s metropolitan area sits on the border of six neighborhoods: (RyanZi / Shutterstock)
2. Convenient Locations In Brookline
The Brookline town in Boston’s metropolitan area sits on the border of six neighborhoods:
- Allston in the north
- Brighton in the northwest
- Fenway-Kenmore in the northeast
- Jamaica Plain in the southeast
- Mission Hill and West Roxbury in the east
Brookline’s strategic location makes it easy to live near arts and cultural hubs, transportation infrastructure and schools. For this reason, you should expect to pay a premium for residential properties.
Luxury properties may cost as low as $2.1 million for brick townhouses. You could buy a luxury house that sits atop Aspinwall Hill.
3. Live Near Harvard And MIT In Cambridge
The presence of Harvard University and the Massachusetts Institute of Technology in Cambridge often seem enough to convince parents to buy homes in Cambridge.
Like Brookline, you should expect to pay above-average property prices in the city. Median home values cost $768,300 between 2015 and 2019, according to U.S. Census Bureau data.
Spacious luxury homes may cost as much as $7.5 million. If you buy a luxury house in West Cambridge, you’ll only drive for less than 10 minutes to reach Harvard University.
Residents in Newton are among the most affluent in Massachusetts.
4. Upscale Neighborhoods In Newton
Residents in Newton are among the most affluent in Massachusetts. Census Bureau data showed that the median household income in the city reached more than $151,000 from 2015 to 2019.
Newton’s median household income cost almost twice as much as the state average: $81,215 during the same period.
A lucrative job market and employers such as Boston College and Newton-Wellesley Hospital have helped residents to enjoy an above-state-average income.
Homebuyers in Newton should know that there isn’t a huge price difference between luxury properties and typical houses. The median home value of properties in the city cost nearly $915,700 between 2015 and 2019.
How much should you spend on a luxury home in Newton? You could buy a 4,000-square-foot house for $2.2 million.
For the same price, you could live in more than 13,900 square feet of land. Best of all, some properties offer a broad view of the Charles River.
If you want to live farther from Boston but still want plenty of choices for schools, then Wellesley is your good choice. (Bassick Real Estate Advisors)
5. Suburban Lifestyle In Wellesley
If you want to live farther from Boston but still want plenty of choices for schools, then Wellesley is your good choice.
The town’s residents enjoy a high quality of life, partly because of their equally high income. The median household income in Wellesley reached more than $197,000 from 2015 to 2019, according to Census Bureau data.
Like homes in Newton, it won’t hurt your finances to spend at least $2 million on a luxury home in Wellesley. The town’s median home values cost almost $1.15 million between 2015 and 2019.
Among luxury properties that offer good value for money include a $3.6 million new construction at 4 Wedgwood. The 0.5-acre property includes 6,000 square feet of living space, including five bathrooms and five bedrooms.
Want to find the latest property listings in your preferred neighborhood? Click here to browse Bassick Real Estate Advisors’ updated directory.
