The annual issue of Boston Magazines Best Places To Live 2009 has just been released and Hopkinton Massachusetts has made the list.
According to the article Hopkinton was grouped into the "The Teflon Ten" which is the ten towns that are perceived according to statistical analysis to be primed for take off once the market starts making it's way back up again. These ten towns supposedly have not dropped in value like other towns have.
The methodology to pick the towns was the following according to Boston Magazine:
"We examined median single-family home and condo prices for the years 2005 (the generally conceded peak of the Massachusetts market) to 2008, as well as average number of days on the market, number of foreclosure petitions and deeds, and, for select communities, percentage of homeowners who owe more than their house is worth.
We then vetted the stats with a panel of Realtors and other experts, taking into account factors such as the strength of the school system, community amenities, commuting times, and market supply versus projected demand."
I was actually interviewed by one of the writers for Boston Magazine for this story. I can attest that Hopkinton has been a destination town for home buyers over the last decade for a number of reasons including great schools, a terrific housing stock, convenience to major highways, as well as a true home town feel.
The schools in Hopkinton have won numerous awards including being named in Boston Magazines best schools for 2008 and Newsweek Magazines top 500 schools.
As far as having the true home town atmosphere, Hopkinton has had a long standing tradition of not having the highly commercialized establishments such as McDonalds as part of the landscape.
As a life long resident and a Realtor covering Hopkinton Real Estate, I have always enjoyed the fact that Hopkinton did not have these types of businesses.
These establishments are close enough, as many of the surrounding towns like Milford, Westboro and Ashland have them, yet you don't have to drive by them everyday.
Every April Hopkinton becomes one of the most recognized places in the country as the World famous Boston Marathon starts here.
I agree completely with Boston Magazines assessment that Hopkinton will appreciate more in value than many of the other area towns once the Real Estate market does stabilize. Hopkinton is an exceptional town.
Unfortunately however, I do not agree with Boston Magazines data which was taken from the Warren Group. According to the article Hopkinton's median home price right now is $557,750. They also report that the one year change in housing values is -4.66% and since the market peak(2005) the market in Hopkinton is down only -0.40%. I hate to be the bearer of bad news but this data is way off!
In 2005 which was the peak year in the Real Estate market there were 212 single family homes that sold in Hopkinton. The average list price of the homes sold was $641,982 and the average sale price of the homes sold was $630,015.
Sorry folks but that is a far cry from where they are right now. For the year 2008 there were 129 single family homes sold in Hopkinton. The average list price of the homes sold was $620,408. The average sales price of the homes sold was $597,100.
While these statistics were taken from the MLS data base (MLS Pin) and do not include FSBO (for sale by owner) properties the figures would not change by that much. There is clearly an error somewhere.
Given that they say the market has been down by 4.66% over the last year but only down .40% does make much sense either. This would imply that the market has actually gone up between 2006 and 2007 and that was not the case.
Generally speaking most of the towns in the area surrounding Hopkinton are down between 20-25% since the market peak. Hopkinton has not been immune to the down turn. They have fared better than many towns but not to the degree this article portrays.
This would be like saying my stock portfolio hasn't dropped either. So if anyone wants to pay me for what my home was worth in the Spring of 2005 I would be happy to listen:)
Interested in seeing how your town did according to the Warren Group?
Here is the link for a chart showing the changes over time in median single-family home and condo prices for 155 cities, towns, and neighborhoods in and around Boston.
______________________________________________________________________________________________________
About the author: The above information on Hopkinton makes Boston Magazine Best Places to live in 2009
was provided by Bill Gassett, a Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of Hopkinton MA and other Metrowest towns for the last 23+ Years.
Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!
For Massachusetts and Hopkinton MA Real Estate and homes see Hopkinton Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.
I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, and Framingham MA.
Click here to view Bill Gassett's Real Estate profile.
SUBSCRIBE TO MY METROWEST HOMES BLOG via email.
Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.
What an excellent local area post and great news for your area. We are both fortunate to live in areas that are continuing to thrive OR at worse slip only a little in comparison ti the rest of the country! Have a good weekend!
Bill- This was a very interesting read. I read the whole article and it had my attention the whole way through. Make it a wonderful weekend:)
Russell - Thanks. Getting on Boston Magazines list is not easy to do. There are a number of good communities in the Metrowest area. Of course I am a little biased because I grew up in Hopkinton.
Katerina - I appreciate the compliment. Hopkinton has always been a great town to sell Real Estate in. I am fortunate to live and work here.
You are fast becoming ( if not already) the go to guy for your areas of expertise. Glad to here and with the great information that you provide consumers, little wonder. A wonderfully informative post,Bill!
William - Thanks. I have been getting quite a lot of press lately. The fact that Boston Magazine rated Hopkinton so highly should help the Real Estate market here in town. Afterall Hopkinton should have one of the best long term appreciation rates.
Bill--You are not only a great Hopkinton celebrity (quoted for the article) but a great real estate agent for the area. Those looking to live in one of the best places in the US will probably be looking for one of the best REALTORs in the area too...Congrats!
Teri - One of the benefits of having such a strong online presence is the media actually searches you out. In the last month I have been interviewed by WBZ in Boston, featured in the Baystate Realtor magazine, Intervied by Boston Magazine, and asked to be on HGTV...not a bad month!
Hopkinton is a terrific town to work and live in. I am fortunate to be in an area that has not taken the beating that some other places have in the Real Estate market.
Bill, I didn't know that the Boston Marathon starts in Hopkinton. You have done an outstanding job in creating such a strong online presence.
Shirley - Yes the Boston Marathon starts in Hopkinton! I must tell you what a zoo the town becomes on this day every year. It is really something to behold. The population of the town just explodes on that day. There is news outlets from around the world camped out at the start of the race for days prior. It is really exciting!
I wonder where the Warren group got their information? Usually the media finds the negative statistics and have very little positive details.
Terry - I am sure it is a combination of sources. I am truly wondering if this is just a mistake or a misprint in the magazine.
Bill you have made Hopkinton shine! Congratulations to you and to the town! We will soon be seeing you in Hollywood!
Joan - It wasn't me that made Hopkinton shine I promise you that:) Hollywood does not want me either! Thanks for commenting on my article about Boston magazine.
Bill - Congrats to Hopkinton! Nice post. I look forward to paying you a visit someday.
Hey Bill! Vroom vroom! I better run into you somewhere soon or else soon you won't have time to acknowledge your fans for signing autographs. Great post and congratulations on the well-deserved attention!
Bill, congrats on the recognition for your area! I'm sure this way go a long way to help spawn continued interest in Hopkinton homes.
Bill,
Mass has lots of places to visit and when I was a kid I used to visit some of them...when I lived in NY.
Bill, Hopkinton sounds beautiful and now has made a terrific list. You are the expert there, I hope both the article and the fact that Hopkinton is a wonderful place to live gives you even more recognition. I love Boston, it will be part of my road trip this Spring :)
Ack, the HUGE footer! What will people say?
Did that Boston Magazine writer find you from the net or did they know you previously?
Bill - this is very cool. Hopkinton has been popular for years and it's good to see it getting continued recognition. And of course we know the BEST real estate agent in the area to help buyers and sellers.
Jeff
Hi William,
Wow, what an amazing post packed full of great info. As for knowing the market stats, I'd had to take your word for it over the magazine's opinion any day of the week.
Bill - Love this post. It is so full of valuable local information about Hopkinton MA. When I visit my sister in Concord what you say about Hopkinton is one of the things I love - no chains! It's like stepping back in time and is amazing to me that you can be so close to Boston and yet feel like you are in a country village miles from a big city. Hopkinton has the same charm from what you describe.
It's nice to know that your town was named one of the best even if they didn't get the numbers right. At least they have you to clarify the numerical errors.
Tom, Susie, Amber, Neal, Carole, Jeff, Lynda & Christine - Thanks for all you comments on Hopkinton making Boston Magazines list of the top towns to live in. I am fortunate to be selling Real Estate in one of the best towns around.
Jeff G - I did no know the writer from Boston Magazine. I am sure she did an online search for Hopkinton Real Estate and I came up near the top in a couple of spots.
Sharon - That is one of the things I really love about Hopkinton. It has a great "feel" to it. Major shopping is only a town away as well.
congrats on the great press for your area Bill
Great post and proven knowledge of the market and your work in keeping up on the statistics. Congratulations on being interviewed for the article. I have been doing more statistics and realize how important they are to everyone - including my knowledge of the market as you have proven here. I follow in your footsteps (in going in the right direction - not yet the expert as you are LOL).
Bill - Your Boston/Hopkinton write-up is interesting. I love your area!
Randall, Cathy, Wendy - Thanks for your comments on my article about Hopkinton and Boston Magazine. Real Estate in Hopkinton has been real strong for many years. The article pretty much sums up why Hopkinton is such a great place to live.
Hi Bill...Great report, with lots of long tail description for Google. You certainly found a place you enjoy and sat and wrote this article, and it shows...... the content is all yours and in your own words...Nice.
Cheers, thanks for sharing :O)
Fred - I should enjoy Hopkinton as I have lived here my whole life. I am fortunate because it is a great place to live and sell Real Estate.
Bill - You rock ! As does one of your main area, Hopkinton ! Congrats on your area making that top 10 list ! That is awesome. Is also very cool that you have the data about the area. I see your market reports every month. The article should have just subscribed to your blog to get the most accurate data. ~ Chris
Bill - I'm glad to hear that Hopkinton is an area that is primed to take off as we come out of the current mess. The magazine couldn't have picked a better person to interview. You are the Hopkinton expert.
Chris - Thanks my friend. The information is certainly not correct.
Pam - It did not come as a surprise that Boston Magazine picked Hopkinton as one of the best towns for future appreciation. Of couse I am a little biased though:)