I read that Melrose home prices were up 7% in 2011. What do you think is the big attraction? Do you expect home values to continue to rise here?

Asked by Catie, Wynnewood, PA Tue May 8, 2012

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Kevin Vitali, Agent, Tewksbury, MA
Fri Dec 6, 2013
Melrose has been an upcoming town for many years. The change started when they really started to re-vitalize the downtown. The draw to Melrose is many fold.

Melrose has access to the commuter rail as well as the T. For driving commuters it is close to Boston as well. Home prices in Melrose are still relatively affordable given the proximity to Boston as well as it being a fairly homogeneous community. The school systems are good and fairly desirable.

These are some of the reasons that have kept Melrose real estate doing well even through the downturn. It did not see the massive price decreases that other communities have seen as well as it bouncing back quite quickly.
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Liz Goodwin, Agent, Melrose, MA
Wed Oct 24, 2012
3 commuter rail stops. Easy access to all major highways without being a cut-through. Oh, and of course an awesome library
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Scott A. Nel…, , 02155
Tue May 8, 2012
Melrose has a strong market because of the great community life, better than average school system and it's proximity to Boston and the suburbs along with convenient public transportation options for commuters. My father was a middle school teacher there for 30+ years. Every community has issues to work on but Melrose continues to be on the higher demand list for home buyers. It maintains a bedroom community feel but also being proactive in their approach to the issues. Just my opinion.
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@Scott. Mr Nelson the science teacher??? Had him, loved him!
And yes your opinion is correct on Melrose!
Flag Wed Oct 24, 2012
Bill Butler, Agent, Melrose, MA
Tue May 8, 2012
Hi Catie, year over year, the median sales price in Melrose is actually down 2.9% ($409,500 from 5/10-5/11 to $397,750 from 5/11-5/12). However, the market is extremely active right now due to the mild winter and low interest rates. We're seeing multiple offers on every correctly priced home - so I expect a modest increase in values this year - 2%-3%.

Buyers find Melrose attractive because of it's proximity to downtown Boston, accessibility to public transportation (Oak Grove T-station and the commuter rail), the Main Street/downtown area with great restaurants and shopping as well as the walkabiity and architecture of the city. If you like, check out http://www.MelroseScoop.com for info on Melrose as well as video updates on the real estate market.

Hope this helps!
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Deb Nicholls, Agent, Concord, MA
Tue May 8, 2012
I'm not sure where you read that, or what properties they were referring to. but the median price of single families, condos, and multi-families in Melrose actually declined from 2010 to 2011. But this year prices are up YTD.

Most of greater Boston is up, not just Melrose. Prices seem to have stabilized and we are having a busy spring, with multiple offers in many cases. Will that continue? If only I had a crystal ball...!
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Christine Ro…, Agent, Melrose, MA
Tue May 8, 2012
Hi Catie,

Boston Magazine calls Melrose a 'haven for ex-urbanites'. Melrose was named one of the “Best Places to Live” by Boston Magazine as part of the “Starting Out” category in the March 2011 issue. The magazine breaks down the “best places to live” based on the stage of one’s life.

Melrose is a wonderful community just 7 miles north of Boston. We have a great transportation system and easy access into the City. We have a vibrant downton with restaurants and shops. Melrose offers many family acitivites; a great recreation department; 2 golf courses (1 private and 1 public); and the Fells Reservation which is a great spot for outdoor activities. We also hold many cultural events. As an example, The Melrose Symphony Orchestral Association is the oldest continuously performing volunteer orchestra in the United States.

If you would like additional information, I would be happy to help. Best, Christine
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