Lisa Li Real Estate Sharing Series-Needam
Lisa Li
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Proficient in self-housing and rental housing in all good school districts and high-end districts in the Greater Boston area. If you need to buy or sell a house, please contact me.
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Topic 10: Needham of Greater Boston
There are many towns in the Boston area, each with its own character, culture and people. Let’s introduce Needham first today. Let’s look at the data first:
1) Needham has a population of about 30,000, which is similar to the population of Wellesley on the side. In fact, Wellesley was separated from Needham a long time ago. Now it is a high-end town in Massachusetts, and Needham still maintains Xiaojiabiyu. temperament. Every time I look at Needham's room, I always think of one word: Neat.
2) Refer to Needham's statistics on city-data.com, 75% of Needham's population over the age of 25 has a bachelor's degree or above. What a white-collar city! In fact, Needham is a family town for the unpretentious white-collar middle class, that is to say, mainly villas.
3) The population of Needham is dominated by whites, accounting for 89%, followed by Asians, accounting for 6%. In terms of income, the Median Household Income in 2016 was $143,295, which is almost double the average income in the United States, so Needham is not considered a wealthy town, but it is also considered a small Fulcon place. Therefore, the crime rate in Needham is extremely low, less than six times the national average crime rate.
4) Now comes the key topic that everyone cares about: school district. There are 5 primary schools in Needham: Eliot, Hillside, Mitchell, Newman, Broadmeadow. Generally speaking, for family towns, the quality of primary schools is directly related to the real estate in the area. Therefore, the quality of these elementary schools I mentioned is based on my personal experience and understanding. Don’t compare my words with the school rankings on the website, because I have never looked at them. If there is a discrepancy, you can judge for yourself. What I said is based on the price and popularity of the areas where these schools are linked. So here's my opinion: Michelle School is everyone's favorite neighborhood, people who live there have a sense of prestigous pride. The Broadmedow area is adjacent to the Michelle area. Although this area is not as popular as the Michelle area, it is neat and very sought-after. Newman corresponds to the south of Needham, which is sparsely populated, with large land and many luxury houses. Due to the inconvenient transportation, it is not so sought-after, but after all, there are the most luxury houses here. Eliot and Hillside are the little brothers behind. It used to be considered the cabbage area of Needham, but due to the cheap housing prices, there have been a lot of renovations and new area developments in the past ten years, especially the Hillside area, which is developing in a high-end direction. In these two areas, you can often see small houses and big houses. The rooms are mixed together, so, compare Diversify. Outside of elementary school, Needham has two junior high schools, HighRock is grade 6, and Pollard is grade 7 and 8. There is only one High School in Needham, and its grades are quite good, often ranking in the top ten in the state. Therefore, Needham is considered a good school district.
5) Transportation: Needham has very convenient transportation, and Route 95 has three exits in Needham. The commuter train to South Station has 4 stops in Needham, so living in Needham is very convenient for going to work, and it is popular among working-class people.
6) Location: I have already introduced part of it when I mentioned the school just now. Generally speaking, the northeast corner of Needham is a cabbage field, and generally low-cost houses are located in the north, which is also the place where Newton is connected, but unfortunately, there is not much light. In the past ten or twenty years, this area has been a fashionable remodeling area, so there are many new houses, especially Townhouse. Marked by Central St, all the way to the southwest towards Wellesley, it became more and more luxurious, and slowly saw many large plots and mansions. The most popular is the Mitchell area, the residential area with Brookline St as the reference point. The intersection of Chestnut St and Great Plain Ave is Needham Center, with a commuter train station. In this area, older houses are another cheap area, which is more convenient and close to the commercial area. I have talked about the concept of location, but the specifics depend on the house.
7) Needham's real estate data, I posted two for comparison: Figure 1 is the statistics of all real estate transactions in Needham in the last year. Figure 2 shows the year 2009 when the housing market fell due to the economic impact. Please see:
Figure 1 above is the statistical table of all villa real estate sales in Needham in the last year. Let me point out a few key points: Needham houses are sold in a price range of 1 million to 1.5 million, with a total of 91 units sold, followed by 1.5 million to 2 million, a total of 68 sets were sold. However, there are only 139 units in Needham’s traditional price range of 600,000 to 1 million. After comparing the data in 2009, you will be surprised to find that Needham has risen rapidly in the past eight years, and it has taken a big step towards a high-end area. Another interesting phenomenon is that in the price range of 600,000 to 1.5 million, the average selling price of all price ranges is higher than the average asking price! Especially in the range of 900,000-1,000,000, the selling price is the fastest, and the average selling price is 4% higher than the asking price. This shows that Needham is very popular in this price range! Looking at the total average selling price, Needham’s was 1.215 million in the last year, which is quite impressive.
The picture above is picture 2, which is the sales data of all villas in Needham in 2009, which is not at the same level as the picture just now, so you can compare it yourself. The average price of homes sold that year was $775,000.
Based on the above, let me summarize: Needham is suitable for family-type self-occupation needs, and it is best to choose villas or town houses. The condo market is not so good, and it is not suitable for investment, because the house price is high, but the rent is not high, and the investment income Not as good as those areas with a lot of rental houses. People who choose to come to Needham can basically afford a house themselves.