Massachusetts continues to attract settlement, centuries after drawing its first dwellers.
By Kristen Ordonez
Much like the early pilgrims who ventured across the ocean to towns like Plymouth, Massachusetts, homebuyers can find the journey to settle in a new home to be an arduous one. From the historic, scholarly cities of Boston and Wellesley to the island region of Nantucket, luxury agents are helping buyers discover the growing real estate prospects within Massachusetts.
Within the metropolitan areas of the state, including towns like Wellesley, Weston, Dover and Needham, businesses are the main attractions bringing people to the Metrowest section of Boston.
“This region has the largest amount of biotechnology companies in the country, in addition to superior healthcare, highly ranked hospitals, colleges and university,” according to Joni Shore and Jon Shore of Coldwell Banker Residential Brokerage in Wellesley.
Plus, colleges like Wellesley offer cultural events, lectures and opportunities, as well as the acclaimed Davis Museum. The Shore team notes that its clients come from all around the world looking for this type of access to culture. “The highly ranked schools and universities are a draw to the area,” says the duo. “Often families who send their children to school in the area prefer to invest in real estate.” These investments tend to be in new or updated homes with technological and sustainable living qualities. Homes like these at the top of the market are usually priced much higher than other suburban areas, with the highest listing at $18.5 million.
Photo courtesy of Jon & Joni Shore
Sold for $4,000,000
Photo courtesy of Jon & Joni Shore
Sold for $4,150,000
Photo courtesy of Gary Winn
Sold for $5,770,700
Photo courtesy of Gary Winn
Sold for $5,770,700
Apart from the collegiate neighborhoods, the coastal regions of Massachusetts have their own enticing attributes that attract homebuyers, specifically outdoor living and recreation. Whether buyers prefer sailing around the bay or fishing in the ocean or lake, real estate along the water perpetuates both luxurious comfort and relaxed entertainment.
“When living on the South Shore you experience life as if you are on vacation 12 months a year but without vacation traffic,” says Liz Bone of MacDonald & Wood Sotheby’s International Realty, who works primarily within cities like Duxbury, Marshfield and Pembrok. This staycation-style of living is ideal for the market, Bone says, as it has brought a more diverse demographic of buyers to the region. “I find that we are being discovered every day and when someone drives through our quaint communities, each community offers a different experience and appeal,” she notes.
In terms of pricing, Bone adds that though each community differs, generally homes below $500,000 are bought by first-time buyers, while properties sold at $900,000 are bought by people moving west from the city areas. “[They] find that you can purchase more for your money the further south you travel away from the bustle of Boston,” says Bone.
Outdoor amenities and resort-style living dominate Nantucket Island, a premier resort area of New England, which attracts a wide international market, according to Gary Winn of Maury People Sotheby’s International Realty. “Each area on Nantucket has its own distinct and different market and price points,” says Winn, who notes the market offers a variety of properties within a larger spectrum of price points. For example, a beautiful house with a guest cottage, pool and cabana in the highly sought-after Cliff area can be available for about $8 million, which is quite low compared to other top Nantucket properties priced at around $30 million.
