What You Need to Know Before You Move to Massachusetts

When it comes to the New England region, Massachusetts is the most populous state. Home to prestigious schools, many historic sites, and booming businesses, this coastal state has become the sixth-most popular destination for foreign travelers. The Bay State is bordered by the Atlantic Ocean, and the states of Connecticut, Rhode Island, New Hampshire, Vermont, and New York. Great for urbanites and nature lovers alike, Massachusetts has a variety of different communities and regions.

Boston SkylineBoston Skyline

Housing Trends in Massachusetts

Since Massachusetts is a popular state, you’ll want to get on board with home scouting quickly. One of the most prominent housing trends in Massachusetts is the lack of supply. This shortage has created a surge on home prices according to a recent statement by the Eric Berman, director at the Massachusetts Association of Realtors. In fact, there were fewer than 10,000 single-family homes for sale in December and January in Massachusetts, compared to 38,000 in September 2006.

A Seller’s Market

Yes, it’s a seller’s market in Massachusetts. Here’s the lowdown. Although single-family home sales in January were slightly down — 1.2 percent — compared with the same period last year, the median price jumped 4 percent to $369,000, per the Massachusetts Association of Realtors. For condominiums, the median price increased more than 6 percent to $355,000 for the month of January, though sales fell by about 7 percent.

Why the price hikes? It’s due in part to the lack of available land for new construction. Also, in some of the more affluent areas, people seem to be staying put in favor of remodeling or adding extra space. Together, these decisions may limit housing supply – at least in some areas – for first-time buyers and moderate budgets.

Renting in and Around Massachusetts

Should you rent instead? If the idea of buying appeals to you but you just can’t pull it off, renting may be an option. The average rent for an apartment in Boston is $3,001, a 3% increase compared to $2,925 in 2017. For this price, you may get – on average – 815 to 986 square feet.

But other cities may be more reasonable. As of May 2018, the average rent for an apartment in Springfield was $1,061 which is a 0.94% increase from last year when the average rent was $1051, and a 1.23% increase from April 2018 when the average rent was $1048. Naturally, you need to factor in your location needs and maximum tolerance for commuting.

Primary Housing Styles in Massachusetts

With a history of settlement since the Pilgrims in 1620, New England boasts a spectrum of architectural styles that are older and more varied than in any other part of the country. One of these, not surprisingly, is the Cape Cod. It is one of America’s oldest home styles and has a very cozy feel. Other popular styles include an easy-living ranch and a country-style with a wrap-around porch.

Harvard SquareHarvard Square

Multi-Faceted Massachusetts

Massachusetts has something to offer whether you prefer the beach or big city bustle. Here are a few places to keep in mind when you are ready to put down some roots. What is your neighborhood style?

  • The Quainter Side of MA: To experience the quainter side of Massachusetts, you may want to head about an hour’s drive north of Boston to the seaside town of Rockport for, yes, rocky beaches, seagulls, and probably a lobster roll. Marblehead, a town of about 20,000 people, is less than an hour north of Boston and is often called the birthplace of the American Navy. Its known for its yachting, sailing, kayaking, etc.
  • Mountain Hip: Great Barrington has a Railroad Street, the Guthrie Center, eateries and folk music with some skiing close by if you like winter sports.
  • Outdoor Adventure: 90 miles of the Appalachian Trail runs through Massachusetts, so get your hiking boots and head out for a long-distance or day hike. Or walk the Freedom Trail, a 2.5-mile, brick-lined route that leads you to 16 historically significant sites in Boston.
  • Way Cool: Three of Boston’s neighborhoods get high marks for cool and are cited by the Boston Globe: (1) Jamaica Plain as “edgy cool,” (2) Allston – Brighton as well-educated and “up-and-coming,” and (3) Davis Square for trendy, walkable, and “prime hipness.”
  • Charmed I’m Sure: Massachusetts really turns up the charm in Cambridge. A classic university town, here you can find cobblestone streets, musicians busking, street vendor artists and small cafes. Harvard Square in the center is always action filled and great for people watching.
  • Great Day for a Swim: Woods Hole in southern Cape Cod could make for a perfect day at the beach. This area shows off a great bike path along the coast leading to Falmouth, golden beaches, aquariums devoted to marine biology, shops, and the ferry to Martha’s Vineyard. Provincetown, aka P-town, is another Cape Cod city that attracts events like the International Film Festival, a strong LGBTQ community, art galleries, and craft stores.
  • High Crime: North Adams, Fall River, and Brockton are areas to watch for. You can also check current FBI stats to help you determine whether to pass through or put down roots.
  • Tech-Savvy: Cambridge is home to MIT – Massachusetts Institute of Technology so there’s potential recruiter heaven. According to Built in Boston, there are 50 start-ups to watch over the next year, as Boston’s tech sector flourishes and venture capital firms pour money into edtech, fintech, and healthtech.

It seems that modern Massachusetts is also somewhat of a global leader in biotech, engineering, higher education, finance, and maritime trade. Perhaps this is why Forbes ranks Boston #30 in its list of Best Places for Business and Careers and #77 in job growth.

Find Your Perfect Home in Massachusetts

We can help you find your perfect home in Massachusetts. Whether it is to rent or buy, start your search on Homes.com today!


Rana Waxman parlays years of work experience in several fields into web content creation aligned with client needs. Rana’s versatile voice is supported by a zest for research, a passion for photography, and desire to provide clients with a purposeful presence online. In her non-writing hours, Rana is a happy yogini, constant walker, avid reader, and sometimes swimmer.

Source: homes.com

Terner Housing Innovation Lab Launches Nationwide Search for Early-Stage Housing Affordability Innovators

Housing Lab is kicking off its second group of ventures to elevate creative solutions to the housing crisis and promote an equitable recovery from COVID-19. They are looking for solutions that address racial and economic inequities in the housing market

Housing Lab offers:

  • A $100,000 grant to invest in product development and growth
  • 6 months of advising from dedicated coaches who are experts in policy and regulatory strategy, along with access to coaching around business development, financial modeling, partnership management, and more
  • Access to Terner Center’s network of builders, policymakers, nonprofits, and entrepreneurs

Highlights from the 2019-20 Cohort:

  • Closing of seed and Series A venture capital funding
  • Closing of funding vehicles to acquire property
  • Acquisitions that widen impact potential
  • Formal partnerships with other cohort members
  • Expansions to new states and markets

The early application deadline is March 12th and the regular deadline is April 7th. Apply early to ensure Housing Lab has enough time to get to know your company.

Apply Now

Source: geekestateblog.com

A VC Firm uniquely positioned for global elevation

[Note from editor: The “Mastermind Showcase” highlights companies and news from members of the GEM. Today’s showcase: Sapphire Ventures.]

Sapphire Ventures LogoSapphire Ventures is a venture capital firm with more than $5.7 billion under management across over 10 countries. They invest in growth stage companies, leading financing rounds in the $10 – $50 million range, with a strong focus on next-gen enterprise & consumer tech.

Since splitting from parent company SAP in 2011, they have invested in over 120 companies including 20+ IPOs & 35+ M&A exits.

On February 4, Sapphire Ventures announced a $1.7 billion raise across multiple funds which will be used to ramp up their investments in Series B through IPO enterprise-tech companies in the U.S., Europe, & Israel.

Notable proptech investments include DocuSign, Side, and Reonomy. Also a backer of iconic companies such as Linkedin and FitBit.

What we like: Leading the charge is Paul Levine, a seasoned real estate operator with industry connections and knowledge. He served as COO at Trulia and then as President after the Zillow Group acquisition. 

Learn More

Source: geekestateblog.com