Real Estate Market Update for 02176 (Melrose, MA)
Welcome to April's Market Update. Let’s take a look at residential real-estate activity in your area during the month of April. The number of active listings was down 44% from one year earlier, and up 7% from the previous month. This recent increase reflected a larger selection of homes for buyers to choose from. As you can see, the median listing price for the month was just under 420-thousand dollars. Compared to last year, the average number of days units spent on the market before being sold was down 21%. This lower number of days may signal a positive trend in the local inventory-turnover rate. The median sale price was just under 410-thousand dollars. The number of units sold decreased 37% year-over-year, and held steady month-over-month. Even though sales figures were down from a year ago, the recent local market conditions were basically unchanged. Thanks for watching. We hope you use this information to make smart, informed decisions in your upcoming real-estate transactions. Feel free to contact us for more information or further assistance.
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Map Information for 02176 (Melrose, MA)
Area Information for 02176 (Melrose, MA)
  • Population: 27,336
  • Median Age: 41.53 yr
  • Median Commute Time: 28.22 mins
  • Educational Climate*: 5
  • Sales Tax: 6.25%
  • Population Density: 5,843/sq mi
  • Population Change Since 2000: 1.2%
  • Closest Airport: General Edward Lawrence Logan International
  • Closest College: Tufts University
  • Closest Jr. College: Lincoln Technical Institute-somerville
  • Median Household Income: $81,930
  • Annual Residential Turnover: 12.71%
  • Median Years in Residence: 6.65 yr
  • Median Home Sales Price: $375,000
  • Closest Major Sports Team: Boston Bruins
  • Change Avg. Household Income Since 2000: 30%
* Scale from 1-5  ** Index where 100 is the national average
Demographic Data for 02176 (Melrose, MA)
Median Age: 41.53 Married: 41% Number of Households: 11,322 Households with Children: 3,283
Community:
    • Occupancy Types
      • 3599 Vacant
      • 8822 Owned
      • 12512 Rented
    • Transportation to Work
      • 43% Drive
      • 47% Public Transportation
      • 8% Walk / Bike / Other
      • 8% Work at Home
    National Index Comparisons:
    (100 National Average)
      • Population By Sex(%)
        • 50% Male
        • 50% Female
      • White/Blue Collar Jobs
        • 50% White Collar
        • 50% Blue Collar
      School Data for 02176 (Melrose, MA)

      School Name Distance Type Grades GreatSchools Rating Parent Rating
      Winthrop Elementary School 0.4 mi Public K-5 4-5 3
      Melrose Montessori School 0.4 mi Private PRESCHOOL-1 0 4
      St Mary's School 0.5 mi Catholic PRESCHOOL-8 0 4
      Melrose High School 0.6 mi Public 9-12 3 3
      Hoover Elementary School 0.6 mi Public K-5 3-5 4
      Melrose Middle School 0.6 mi Public 6-8 3-5 3
      Lincoln Elementary School 0.7 mi Public K-5 4 4
      Early Childhood Center 0.8 mi Public PRESCHOOL-PRESCHOOL 0 0
      Roosevelt Elementary School 0.9 mi Public PRESCHOOL-5 4 4
      Melrose Ymca Child Care Center 0.9 mi Private PRESCHOOL-K 0 0
      Horace Mann Elementary School 1.0 mi Public K-5 3-5 5
      Anova 5,266.9 mi Private K-7 0 0
      Proximity to listed schools and their school district(s) does not guarantee enrollment eligibility. Please contact a local real estate professional or the local school district(s) for the most current information relating to schools in the area. Sources: GreatSchools.org and Onboard Informatics © 2015
      Local Weather for 02176 (Melrose, MA)
        Community information and market data Powered by Onboard Informatics. Copyright ©2015 Onboard Informatics. Information is deemed reliable but not guaranteed. * Based on a 30-year fixed rate of 4.75% with 20% down. The estimated payment is offered for convenience and is not an offer of credit. Due to market fluctuations, interest rates are subject to change at any time and without notice. Interest rates are also subject to credit and property approval based on secondary market guidelines. The rates shown are based on average rates for our best qualified customers. Your individual rate may vary. Rates may differ for FHA, VA or jumbo loans.