With a charming historic town center and a broad range of shopping and dining amenities, Wellesley is one of the most sought-after western suburbs of Boston. This high demand is reflected in home prices which rank among the highest in Massachusetts.
Located in Eastern Massachusetts this neighborhood is bordered by Newton to the West and Weston to the North. Wellesley Square is lined with stores for weekend shopping. Bookstores, cafes, high-end retailers and small businesses line the street, making it a family-friendly neighborhood.
The commuter rail stops in Wellesley providing easy access to Boston’s city center as well as outbound destinations of Waltham and Framingham. Greyhound buses to New York City and other nearby states are also located at this station. Wellesley is easily accessible by I-95/Route 128, Route 16 and is also serviced by three the MBTA Commuter Rail stops at Wellesley Square, Wellesley Farms and Riverside Station.9
Wellesley has experienced significant price growth from Q2 2019 to Q2 2020 (10.8%) due to the three sales over $4M that closed this quarter despite a fewer number of sales. Despite having 27 more sales in Q2 2019, there was one less sale over $4M, skewing average pricing upwards in Q2 2020.
Two of Wellesley’s biggest closings occurred on Woodcliff Road:
15 Woodcliff Road - $4,000,000
68 Woodcliff Road - $3,895,000
Despite strong pricing growth, Wellesley was not immune to the COVID-19 impact; the number of closings declined by 25.5% year over year in Q2 2020
Conversely, Weston, a neighboring suburb with a similar demographic profile, actually saw number of closings increase by 17.5% during this timeframe