Sit down before hearing this news. It's official: Homes in Needham are pricey.
They are in the top 10 for the Commonwealth, in fact.
In this year's edition of Coldwell Banker's national Home Listing Report, released Thursday, Nov. 29, the average price of a typical four bedroom, two bath home is listed at $292,152.
When it comes to Needham, however, that price jumps up to $796,673, which makes it the seventh-most expensive home market in the Commonwealth, although nowhere near the top markets nationally.
This year’s report analyzes more than 72,000 home listings in more than 2,500 U.S. markets, comparing the listing prices of similar homes in markets across the country from January 2012 to June 2012, according to Coldwell Banker.
Adjacent Wellesley is also not far off the list. Among the 116 Massachusetts communities included in the rankings, Wellesley comes in at #2 the from the top, with an average price of $966,950.
Folks over in Weston are paying the most for their homes. Weston comes into the listing at #1 in Mass. in with an average price for of $1,105,692, which also makes it the number 14 on the national list.
With Needham's high cost housing market comes an upscale community with the median household income topping out a little under $125,000. Half of the town has a commute of 26 minutes or more, and 82 percent hold white collar jobs.