In Boston’s red hot real estate market, Quincy stands out as one of the top options for buyers and investors alike. The median price of single-family homes for sale in Quincy MA is $601,861 over the last 12 months. That ranks Quincy the 2nd most affordable neighborhood in Metro Boston to buy a house, and a considerably more affordable option than the city of Boston where the 1 year median sales price stands at $767K.
Great deals on real estate are not exclusive to single-family homes either. Quincy’s median condo sales price of $454,776 is also the second most affordable mark in Metro Boston, behind only West Roxbury ($453,853). Comparatively, Boston’s median condo sales price is $696K, over 50% higher than that of Quincy.
Local housing development has added thousands of new condo units to Quincy’s inventory in recent years, giving real estate buyers plenty of options to pick from. Quincy ranks #1 in terms of number of overall residential real estate sales in the past 365 days with 1,186 deals recorded in MLS. Only Quincy and Newton saw more than 1,000 sales, with 7,676 deals recorded in the entire city of Boston.
Combine all of that with its close proximity and easy access to inner Boston, what you have is a buyer’s dream: tons of real estate listings to pick from that are mostly reasonably priced. This may explain Quincy’s resurgence and rapid development in recent years. The pandemic did little to slow its momentum, as recent rental data suggests that Quincy’s apartment vacancy rate is even lower than before the pandemic.
Similar trends are being noted in other more affordable suburban real estate markets in Boston. For example, Medford MA has nearly doubled their median sales price since 2012. Quincy’s real estate data suggests that buying a home in Quincy could be a great long term investment for anyone. Even better, the median price for multi-family home for sales in Quincy is $788K in the past 365 days, which is the lowest median multi-family price out of all 33 neighborhoods in inner Boston.
Look for real estate prices to continue to climb in Quincy over the next 12 months, likely at a faster pace considering current real estate data trends. We’ll continue to monitor and report on this data as it becomes available.