Home Finance How Much Does A Home Cost in Malden MA?

How Much Does A Home Cost in Malden MA?

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For those shopping real estate in Boston’s metro area, Malden provides an economical option very close to the city.  Not only is it within 15 miles of downtown Boston, it ranks in the top 5 most affordable metro suburbs for both single family and condo property types.  Median sale prices are 20-40% lower in Malden than they are in Boston across all property types and the market for Malden real estate is relatively active in terms of deals (528 sales in the last 365 days).

Malden Home Prices By Type

The 1 year median price of condos for sale in Malden is $398K, the second lowest condo price in out of the 45 neighborhoods that make up Metro Boston behind Randolph ($276K).   Malden’s median sale price for single family homes ($598K) ranks 4th lowest among suburbs and 6th lowest amongst all.  Multi family homes for sale in Malden sold at a 1 year median of $812K.  This was the 7th lowest mark amongst suburbs and 8th lowest among all metro neighborhoods for multi family properties.

Malden 1 Year Median Sale Price Boston
Malden SF $597,736 $784,113
Malden Condo $397,605 $698,313
Malden Multi Fam $811,545 $1,024,397
  • Malden SF Median Sale Price $597,736
  • Boston SF Median Sale Price: $784,113
  • Malden Condo Median Sale Price: $397,605
  • Boston Condo Median Sale Price: $698,313
  • Malden MF Median Sale Price: $811,545
  • Boston MF Median Sale Price: $1,024,397

 

Malden Real Estate Prices By Size

In terms of price per square foot, Malden has the 5th lowest average out of all 45 metro neighborhoods at $371/foot.  Malden condos sell at the highest price square foot ($413) out of the 3 property types while single family ($368) and multi family ($321) are priced relatively low by foot.

Malden’s median sale prices by property size reveals even more astonishingly low prices for real estate.  Malden’s 1 bedroom median sale price ($292K) is less than half that of the city’s ($585K), and all other property sizes are anywhere between 20-40% lower than Boston’s median sale price.

1 Year Median Sale Price Malden Boston
Malden 1BR $291,500 $585,264
Malden 2BR $411,490 $717,650
Malden 3BR $594,354 $777,024
Malden 4BR $682,867 $866,537
Malden 5BR $820,310 $1,032,679

It seems like it’s only a matter of time before Malden goes the same route as nearby Medford, where median prices are up 40% over the past few years.  Still, at least in the short term, Malden is providing home buyers some much needed relief from the soaring prices in most parts of the metro.