Moved to Medford? Good move. Medford real estate is holding steady in its value, with condos taking the lead over houses.
The current average listing price for Medford condos is $347 per square foot, according to real estate research site NeighborhoodX. The individual properties that comprise this average range from $259 s.f. at 162 Grant Ave. to $466 s.f. at 1 St. Clare Rd. #14.
For comparison, the house prices in Medford average $307/sq.ft., and range from $192-423/sq.ft. There seems to be (comparatively) very little difference in the average price and range between houses and condos.
Yes, sales are quite healthy in Medford. And depending on the the house, the value may end up being quite a bit over the asking price. The Globe reports a multifamily that went on the market last spring. It received an overwhelming 43 offers during its open-house weekend. And 10 of them were $100,000 over the asking price. All this on a house with major flaws to the roof, eaves, and more. The winning bid took home the prize at over $150,000 above the listing price with no contingencies.