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Posted: December 27, 2019
2019 Annual Review: Pamela Massad of Fletcher Tilton PC
Fletcher Tilton PC
What are your predictions for commercial real estate in 2020?
Boston’s median monthly rent of $2,800 and median home listing price of $749,000 are unreachable by young professionals. The woes of public transport into the city are years away from resolution.
So I see millennials looking westward to start their careers and lives.
Opportunity exists with hi-tech and bio-tech companies in Metrowest and Greater Worcester. Because of this, communities between 495 and Worcester are already maturing. With the arrival of the Woo Sox, young professionals will increasingly perceive Worcester as a vibrant city scene and start looking for homes here.
The median rent in Worcester is $1,600 and the median home price is below $300,000 in lovely towns like Paxton, Holden and West Boylston.
Some nearby towns have very attractive median home prices under $250,000.
I see young professionals moving to these areas, stimulating their economies and the need for new commercial development west of Worcester.
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