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How Much Does An Average Home Cost in Lexington?

'The Birthplace of American Liberty' lands toward the top of the list of the Commonwealth's most expensive communities in Coldwell Banker's latest Home Listing Report.

 

Here’s a shocker: Homes in Lexington are expensive.

In its latest national home listing report, released last week, Coldwell Banker ranks Lexington as the fourth most expensive home market in Massachusetts.

With the average price of a typical four-bedroom, two-bath home listed at $878,958, Lexington didn’t crack Coldwell Banker’s top 20 of most expensive communities. Weston was the only Massachusetts town to join those ranks, checking in at No. 14, while Lexington checked in at 33rd.

The high cost of housing in Lexington comes an upscale, family friendly community, according to Coldwell Banker's commmunity overview, which puts the median household income at $135,619 and says 42 percent of households have families.

According to the report, which looked at 2,479 communities across the country, the average price of a typical four-bedroom, two-bath in the United States is $292,152. That price tag jumps to $489,063 in Massachusetts, the nation’s second most expensive state trailing only Hawaii, which has an average listing price of $742,551.

Joining Lexington in the Bay State’s Top 10 priciest communities are a number of neighboring towns, like Weston, Wellesley, Needham, Concord, Winchester and Belmont, along with Dover, Hingham and Marblehead.

Springfield, meanwhile, is the least expensive community in Massachusetts, according to Coldwell Banker, with an average listing price of $136,405 for a four-bedroom, two-bathroom home.

 

Rank in Massachusetts Community  Average Price 1 Weston $1,105,692 2 Wellesley $966,950 4 Lexington $878,958 7  Needham $796,673 8 Concord $785,407 9 Winchester $777,440 10 Belmont $762,700 11 Newton $761,738 17 Sudbury $703,809 20 Wayland $679,603 27 Acton $611,988 31 Arlington $578,782 116* Springfield $136,405

Source: Coldwell Banker's Massachusetts Home Listing Report. *Communities in Massachusetts were ranked from 1 to 116 in the report. 

norah December 06, 2012 at 03:15 PM
Congratulations Lexington!
Larry Belvin December 06, 2012 at 06:08 PM
There should also be a column for median home prices as the median home price is less influenced by the sales of a relatively small number of very high priced homes and is a more relevant number for comparison IMHO.

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