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Framingham Real Estate Trends

It is a really good idea to be looking for Framingham, MA real estate because it has been considered by CNN’s Money magazine the 36th best place to live in. There are numerous possibilities in case you’re looking for a new home, and a good chunk of Framingham real estate is considered to be “affordable housing”. Framingham is a blend or urban and rural aspects. It has a well-established teaching hospital and it is a respected school district. In case you would like to rent, the percentage of Framingham apartments for rent is higher than anywhere else in the Boston area. However, if you have a larger budget, there are also large Victorian style homes. In South Framingham you will find smaller single family houses while in North Framingham you will find larger homes for sale.

Demographics 

If you’re considering Framingham apartments or homes for sale, you’ll be interested to know the demographics of the town. The violent crime rate is 0.25%, which is below the state average of 0.45%. The unemployment rate is 3.5%, which, again, is much lower than the unemployment rate of the state of Massachusetts. 

With a total population of 68,000 people, Framingham can be considered a relatively large town. Interestingly, about half of all the residents have a higher education diploma. Apparently young people can find a lot to do in the town, since over 21% of the residents are under the age of 18.

Market Trends

When looking for Framingham homes for sale, it is good to know that in August 2014 the average price per square foot was $142, which means a decrease of 36% compared to the same period last year. In May-August the average price of homes sold was $217,000 based on 11 transactions. This price is typical of a two-bedroom home. This represents an increase of 22% compared to last quarter. At the end of August, the average listing price of houses for sale was $462,821. When looking at the average prices of Framingham homes for sale, take into consideration that 10% of homes are designated affordable housing. Then inventory of properties for sale is fairly low compared to what it has been in the past, making Framingham a seller’s market.
 

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