Wakefield

Population: 26,292
Median Home Sale: $397,000
Median Household Income: $87,089
Median Commute: 26.00
Wakefield Common. Photo By: bdamon
The town of Wakefield is situated in Middlesex County in eastern Massachusetts, approximately ten miles north of the City of Boston. It is bordered on the north by Reading and Lynnfield, on the west by parts of Reading and Stoneham, on the south by Melrose and on the east by Saugus and Lynnfield Read More +
The town of Wakefield is situated in Middlesex County in eastern Massachusetts, approximately ten miles north of the City of Boston. It is bordered on the north by Reading and Lynnfield, on the west by parts of Reading and Stoneham, on the south by Melrose and on the east by Saugus and Lynnfield again. Originally settled in 1639, this area was known as the First or South Parish of Reading until the year 1812 at which time it was incorporated as the Town of South Reading. It remained as South Reading until 1868 when the name was changed to Wakefield in honor of one of its leading citizens, Cyrus Wakefield, who built the first rattan factory in the world. Manufacturing is the largest source of employment; next in importance finance, insurance and real estate followed by the wholesale and retail trade industry. The Central Business District along Main Street consists of banks, public buildings, specialty shops, and professional offices. Town residents confidently assert that Wakefield is a well managed community. Adding to the town’s attractiveness are its two lakes: Crystal Lake, a water supply source, and Lake Quannapowitt, a center for water sports. Lake Quannapowitt provides year-round recreational opportunities; swimming, boating and fishing in the summer and ice fishing, ice boating, hockey and ice skating in the winter. This three mile lake is a popular area for jogging and walking.

Wakefield MA 2015 Real Estate Market Statistics:

The average median single family home price in Wakefield MA Year-to-Date (Jan-May) was $518,500 a12.72% increase from the previous year. The average median condominium price in Wakefield MA Year-to-Date (Jan-May) was $480,000 a 9.09% increase from the previous year. YTD, there have been 124 home sales, a 2.36% decrease from the previous year.  Home sales in Wakefield continue to stay strong, making for a more even playing field for sellers and buyers.

(Source: Town Stats by The Warren Group, a Bankers & Tradesmen Publication) Read less –