Real Estate Trends in Concord, MA
Drive or stroll through Concord, Massachusetts and you’ll see gorgeous mid-century houses, large swaths of woodlands, small locally-owned businesses, and historical sites like Minuteman Park and the Old Manse. If the historical significance and rural beauty of this town appeal to you, you may be wondering whether you should start looking at Concord properties. If the thought of moving to Concord has crossed your mind, read on to learn more about the town’s demographic and real estate trends.
Concord Demographic Trends
Concord’s population has remained more or less stable for the past several decades. There were 16,993 residents at the 2000 census, and that number increased by just 4% (to 17,668) by the time of the 2010 census. Most of the people who live in Concord are highly educated; in fact, two thirds of the adult population holds at least a bachelor’s degree, and almost 35% have an advanced degree. As a result, the overwhelming majority of working residents are employed in white collar jobs, and the median household income in 2012 was $129,646, according to City-Data.
While there are some businesses headquartered in Concord, many workers commute to Boston or another nearby town for work. Concord has two MBTA rail stations with service to North Boston, making it possible for some residents to commute without driving their own vehicle.
The median age in Concord is 46.9, almost eight years older than the Massachusetts median of 39.2. Concord is considered a particularly family-friendly town, thanks to its good public school system, low crime rate, and well-educated community. Almost one-third of all Concord homes have children under the age of 18.
Concord Real Estate and Housing Trends
One thing that strikes many people about Concord is the size of many of the houses. As a somewhat rural town, Concord provides lots of room to spread out, and it’s not uncommon to see houses with five or more bedrooms and large yards. Concord houses are typically very well-maintained and valuable: in 2012, the estimated median house or condo value was $717,877.
When visiting Concord homes for sale, you’ll likely notice that the majority of houses in the surrounding neighborhoods are owner-occupied. Concord has a vacancy rate of only 6.7%, meaning the real estate supply is relatively tight.
While medium and large single-family homes, many of which were built between 1940 and 1969, dominate the real estate landscape, it is also possible to find Concord apartments with units for rent. Most Concord, MA apartments are located in the southwest part of town, which was developed more recently (between 1970 and 1999). Many of these apartments are within walking distance of West Concord’s village center, which has shops, restaurants, and an MBTA station.
Whether you’re interested in Concord, MA homes for sale or an apartment to rent, start your search by contacting a CENTURY 21 Commonwealth realtor.