Medford Median Home Prices
The real estate market in Medford MA has undoubtedly benefited from the the rapidly ascending Greater Boston housing market. Once a quiet and affordable suburb just north of Boston, real estate prices in Medford have soared in recent years thanks to its close proximity to inner Boston and exorbitant real estate prices in the city’s core areas. As a result, the median sales price for single family homes for sale in Medford MA is $756K over the past 12 months, up from around $400K in 2012.
In spite of its growth, Medford’s median sales price ranks it in the bottom third of all Boston neighborhoods. At $756K, Medford is the 8th most affordable neighborhood to buy a single family home in Metro Boston, with median prices similar to that of Roslindale ($731K), Lower Allston ($754K), West Roxbury ($762K), and Fort Hill ($777K). If the city of Boston is taken out of the rankings, Medford is the second most affordable single family market behind Quincy, where the median sales price was $601K over the past 12 months.
In terms of real estate prices for square footage, Medford real estate has averaged $447 per square foot over the last year of MLS sales data. This ranks 7th most affordable among the 33 neighborhoods closest to Boston, and considerably less than Boston’s city square foot average ($720).
Where to Find Luxury Apartments in Boston
With all of the new high rise developments built in Boston over the past decade, there have been tens of thousands of new luxury apartments added to Boston’s rental inventory. Still, if you’re searching online for Boston luxury apartments, you will find that many of the listings have inaccurate and/or outdated information.
Property management companies are notorious for not updating their rent pricing and inventory levels. So, when you are looking at listings on various apartment portals, there is a good chance that the price for that apartment may have changed, or worse, that there are no longer any units available for rent in that building.
Still, despite the lack of reliable information, we can still get a good picture of what neighborhoods have the most options to select from overall. The following neighborhoods have the highest inventory of luxury apartment rentals in Boston. And remember, if you’re ever in doubt about the price or availability of a luxury apartment, call the management company directly. They’ll know the correct information right away and can help you spare yourself from the rental runaround. \
2021 Boston Rent Price Report
Last year in 2020, the city of Boston experienced its first decrease in average rent price since the housing crisis of 2008. Remote learning and the subsequent impact on the housing market sent landlords scrambling to fill vacant units. Broker’s fees were waived and rents were slashed in an effort to resuscitate the demand that was lost from the off campus housing market.
This year, remote learning was nixed by most of the area’s largest universities, resulting in one of the fastest market corrections in history. As a result, rent prices for Boston apartments have rebounded and the city avoided recording two consecutive years of rent price declines. The current average rent price in Boston is $2,594 across all apartment sizes, a slight increase of 0.35% compared to December 2020’s mark.
We still have some ground to make up before we reach the record high rent prices we were seeing prior to the pandemic. Compared to December 2019, when Boston’s average rent price was $2,642, the current average rent price is still down -1.79% city-wide. Still, considering that apartment supply numbers were at historic highs in March of this year, this drop is not nearly as large as it could have been.
Rent vs. Buy Quincy
Quincy’s real estate market has been a rising star among all of the neighborhoods in Metro Boston. Historically, housing prices have been between 10-20% less in Quincy compared to Boston, but more recently both rent prices and median home prices have been fast on the rise. This has shrunk a once healthy margin between the cost of housing in Quincy compared to Boston for renters and home buyers.
This article will take a mathematical approach to the classic rent vs. buy dilemma as it related to Quincy. To do this, we’re going to subtract the average monthly cost of owning a home in Quincy by the average monthly cost of renting an apartment. To estimate the average monthly cost of owning, we’ll use the most up-to-date median sales price data from MLS, current Quincy property tax rates, and the average Quincy homeowner’s insurance. Average monthly cost of renting is based on the average rent price of Quincy apartments.
We’ll apply this formula to both condo and single family property types. We’ll also compare different property sizes.
2021 Boston Rental Market Report
The COVID-19 pandemic has had a drastic effect on the rental market in several cities in the United States. Boston is no exception, but if we look at the most recent data and figures from the last 6 months, the rental market in Boston seems to be on a path to recovery.
Both the real-time availability rate (RTAR) and real-time vacancy rate (RTVR) have contracted rapidly since last December and that is good news for all the stakeholders in Boston’s rental market. While the RTAR has dropped by -81.72%, there has been a decline of -86.42% in the RTVR when compared to last year. Now, availability of Boston apartments is tighter than it was in December 2019, before COVID rocked the housing market.
The YOY average rent price for 1 bedroom and 2 bedroom apartments in Boston has dropped by -3.07% and -0.55% respectively since last year. The pattern is the same outside the city of Boston where the 1 bedroom and 2 bedroom prices have fallen by -2.1% and -0.83%. This is undoubtedly the result of the supply inflation we saw during the pandemic.
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6 Reasons Your Not on Page 1
Why Am I Not on Page 1!?
This is one of the most common questions business owners ask their SEO company. That question is as complex as Google’s algorithm, and it is never an easy one to answer. Your organic rank is influenced by many elements that exist both on your website and off of it. Technical website setup, keyword strategy and domain authority are all things to consider when evaluating rank.
While your reason will vary depending on your circumstance, there are 6 very common website issues that will prevent you from gaining access to Google’s coveted first page, and all the fresh organic leads that come with it. Here they are:
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7 SEO Tips For The New Business Owner
This past year has seen an overwhelming number of entrepreneurs launch new online businesses. The pandemic has made traditional brick and mortar businesses a risky venture, so now an increasing number of entrepreneurs are looking at click and mortar businesses as the best chance for long-term success. Just look at the record shattering year for VC Funding in the US in 2020 as proof that the pandemic has, if anything, accelerated the ascent of tech in business.
Whatever your business type, if your going to be making a big initial investment into your digital presence, your going to want to get it right the first time. It can end up costing you thousands of dollars to hire a good SEO agency to go back and fix a poorly optimized website. SEO does take time to build, but it will never get off the ground if the website isn’t setup for success from the start.
So here’s a list of 6 critical SEO tips for the new business owner:
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SEO Case Study: Boston Luxury Apartment
Bostonluxuryapartment.com is one of over 80 local apartment websites owned by our first client, Boston Pads. It was considered to be one of the most valuable in terms of potential traffic. After launching the SEO campaign for their main site bostonpads.com, this was the second objective brought forth by the client in September of 2016.
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SEO Case Study: Boston Pads
Boston Pads was ProSource Media’s first SEO client. We began the campaign back in May 2016 and we’re still actively managing their SEO and content to this day. The initial scope of work involved providing content and backlinks for the newly redesigned website bostonpads.com. In addition to that, we were responsible for rebuilding and writing content for 60 other local apartment websites owned by the client.
Our scope of work for Boston Pads has evolved considerably since then, but for this case study we will focus on the SEO strategy executed by ProSource for the client’s main objective: Rank bostonpads.com on Page 1 for the keyword boston apartments. (more…)
Project Showcase: Core Extractions CBD Ecommerce Site
One of our more recent projects we’ve completed is the design and build of Core Extractions CBD website. In partnership with Web Development LLC, Core Extractions provides a full spectrum of CBD products for sale shipping to the entire United States. In addition to the eCommerce portion of the site, the website also offers affiliate opportunities, wholesale pricing, and a Cannabis blog. (more…)
