The most expensive zip codes in Massachusetts are in Boston, Wellesley, Nantucket, Chilmark, Dover, Needham, North Chatham, Edgartown, Brookline, Westwood…
Cambridge and Somerville don’t make it onto the top 50. How come?
The data is looking at the highest-priced sales in the commonwealth, not median resident income, or tax rate. It also did not calculate housing cost based on price per square foot, or other measures that would skew the data in favor of urban areas. Thus, tightly-packed small cities like Cambridge and Somerville do not make the cut.
- Variable sizes of housing stock. We have lots of small properties for sale, which will be cheaper than in single-family house-land. This lowers the sale price average.
- We don’t have much land with our houses and condos. This lowers the sale price average.
- We still have some economic diversity. (See last week’s blog entry. ‘nuf said.)