As we saw in our 2023 Massachusetts Year in Review Housing Report, home prices continue to rise across Massachusetts. The average selling price for a home hit $686,115 by year’s end, an increase of 3.4% compared to 2022.
Here is a list of the most expensive towns in Massachusetts in 2023:
1. Nantucket
Nantucket comes is first on our list with the average selling price for a home at $2,747,314. In 2023, there were 123 home sales in Nantucket. Nantucket is a town and a county as well as an island. Nantucket is a popular tourist destination where visitors can explore miles of beaches, wildlife reserves, museums, historic homes, shopping, and restaurants. According to the U.S. Census Bureau, the population of Nantucket as of July 2023 is 14,444 residents.
2. Aquinnah
Aquinnah, another small town on Martha’s Vineyard places second on our list, with an average selling price of $2,560,000 in 2023. Located on the very western end of island, Aquinnah is home to the breathtaking views of the Aquinnah Cliffs, and Gay Head, and offers several beaches for residents and visitors alike to enjoy. As of 2022, the population in Aquinnah was 708 residents, according to CensusReporter.org.
3. Weston
Coming in at number three, Weston has an average selling price of $2,292,913, and a total of 146 homes sold in 2023. Located in Middlesex County, Weston is known for its high quality of life. It has excellent schools with small class sizes and is committed to preserving its open space and maintaining sustainable land development. Weston is just 15 miles west of Boston and has access to routes 20 and 95. Weston also has 3 convenient stops on the MBTA commuter rail to Boston, making it an ideal location. The population of Weston is 11,661 as of July 2022.
4. Wellesley
The average price for a home in Wellesley is $2,036,088, and 285 homes sold in 2023. Wellesley is up five spots, as it placed as the 9th most expensive town in 2022. The Wellesley school system is considered one of the best in the state. The town is home to Wellesley College, one of the nation’s top liberal arts colleges, and Babson College, a renowned business school. You can explore the beautiful Wellesley College campus or take a stroll through the lovely Wellesley Town Square. The town also boasts an excellent school system, a variety of parks and outdoor spaces, and a thriving arts and culture scene. Along with its close proximity to Boston, Wellesley also has access to Route 9 and has 3 stops on the MBTA commuter rail to Boston. The population of Wellesley is 29,862 as of 2022.
5. Dover
Dover is fifth on our list with an average selling price of $1,797,072. This is up five spots from 2022! Located just 40 minutes from Boston, the town of Dover retains a country-like atmosphere. Dover has plenty of open green space including Noanet Woodlands, with over 500 acres of preserved space and trails for hiking, birding, and mountain biking. The town is also home to several top-ranked public schools, making it a popular destination for families. According to the U.S. Census Bureau, Dover has a population of 5,860 as of July 1, 2022.
6. Edgartown
Up just one spot from 2022, Edgartown is the 6th most expensive town in Massachusetts. Edgartown had 72 home sales in 2022 and the average selling price for a home is $1,797,072. Picturesque Edgartown is one of six towns on Martha’s Vineyard. Edgartown is known for its beautiful historic homes built during 17th and 18th centuries. There are coffee shops, art galleries, bookstores, and boutiques along the brick-lined streets in the heart of Edgartown. There’s a wide range of restaurants in town from casual to elegant. Tourists and residents enjoy going to several beaches in town including South Beach, with big waves and three miles of shoreline. Edgartown has always had a smaller population, with the 2022 census reporting 5,266 full-time residents.
7. Manchester
Coming in seventh place, Manchester, more commonly known as Manchester-by-the-sea, had 54 home sales in 2023 with an average sales price of $1,648,494. Nestled on the coast 30 miles North of Boston, Manchester-by-the-Sea embodies stunning New England charm. The seaside town offers residents a serene escape from the hustle and bustle of city living. Along with its scenic beauty, Manchester is a vibrant community with lots to offer such as art galleries, boutique shops, and cozy cafes. This coastal town is home to an estimated 5,354 according to the U.S. Census.
8. Lexington
In eighth place is the town of Lexington, with 353 home sales and an average home sale price of $1,607,957 in 2023. History buffs will recognize Lexington, as it was the site of the first battle in The Revolutionary War. Today, Lexington honors its legacy by preserving historical buildings and parks. Lexington’s community hosts a plethora of Patriotic events each year, including festivals and parades to celebrate national holidays such as Patriot’s Day and Independence Day. Residents of Lexington enjoy a unique blend of colonial history and modern trends and is located only 13 miles from Boston. As told by the 2022 U.S. Census, Lexington is home to an estimated 34,074 residents.
9. West Tisbury
Located on Martha’s Vineyard, West Tisbury comes in ninth place for most expensive towns in 2023. The small town had 28 home sales with an average price of $1,527,143. West Tisbury is a tight-knit community with a number of unique things to see and do. Residents often host farmers’ markets and events at local art galleries, including a fun sculpture park! West Tisbury also boasts gorgeous beaches and a peaceful atmosphere. This tiny town has a population of 2,941 full-time residents.
10. Newton
Finally, Newton rounds out the top ten list with an average sales price of $1,526,711 and 828 sales in 2023. Located less than 10 miles from Boston, Newton offers its residents the perfect balance between suburban and city life. With an abundance of shops, restaurants, galleries, music venues, and more, there is so much to explore! Newton is also known for its iconic and beautiful Victorian-style homes, which add true New England charm to the town. Newton has quite a large community, with an estimated 87,381 residents as of 2022.
**All total sales and average selling price data provided by The Warren Group