Watertown’s real estate market is one the more expensive suburbs in Boston to purchase real estate. In the past 365 days, 425 residential real estate transactions occurred in Watertown and a majority of them (265) were condo deals. Out of the remaining 160 Watertown real estate sales, 93 were single family homes and 67 were multi family homes.
Watertown Home Prices By Property Type
The median price for condos in Watertown is currently $629K which is the 8th highest out of Boston’s 20 closest suburbs, but still short of Boston’s median condo price of $698K. However the median sales price for single family homes in Watertown ($812K) is higher than that of Boston’s ($784K) and ranks 7th highest among metro suburbs. Watertown’s multi-family median sale price also ranks 7th highest among suburbs at $932K.
|Watertown||1 Year Median Sale Price|
|Watertown Multi Fam||$932,107|
Watertown SF Median Sale Price – $811,667
Watertown Condo Median Sale Price- $629,381
Watertown Multi Fam Median Sale Price- $932,107
Watertown Home Prices By Property Size
If you break down Watertown’s sales data by property size, you’ll find that it ranks pretty average relative to other suburbs across all size categories. Watertown’s 1 year median prices are 20-25% lower than Boston’s median for smaller properties (1 & 2 bedroom), while 3 through 5 bedroom properties are priced within a few percentage points of Boston.
|1 Year Median Sale Price||Watertown||Boston|
So the data suggests that shopping real estate in Watertown will give you similarly priced properties as you’ll see in many areas of Metro Boston. There certainly is some opportunity to find better deals for smaller properties in Watertown that would be more spacious than the same size units in the city. Watertown’s 1 year average price per square foot of $460 is well below that of the city ($743/sq. ft) and even below the metro suburb average of $465/sq. ft.
Watertown still carries a lower price per square foot for single family and multifamily compared to Boston, albeit at a much smaller margin (under 10%). Given the relative shortage of these types of properties in Watertown compared to condos, buyers will see much larger price tags on homes for sale in Watertown.