What $1M Actually Bought Across Greater Boston
368 transactions reveal the shocking reality: same budget, 3.4X space difference—from 1,152 sqft fantasy to 3,936 sqft reality
The same $1M budget bought vastly different homes across Massachusetts: a 1,152 sqft 3-bed/1-bath fixer in Lexington versus a 3,936 sqft 4-bed/3-bath modern home in Hopkinton. Analysis of 368 actual sales (Aug-Nov 2025) exposes the Fantasy Tier where buyers pay for addresses—not houses—and the Maximum Space markets where value reigns.
Bottom Line Up Front
• Median property at $1M: 2,560 sqft, 4 beds, 3 baths, $386/sqft, sold in 46 days.
• Fantasy Tier warning: In ultra-premium markets (Lexington, Brookline, Newton, Belmont), $1M bought compromised properties: 1-bathroom homes with 3-6 bedrooms, 1,150-2,200 sqft spaces requiring $100K-$250K renovations, and 40-83 days on market before finding buyers willing to accept the trade-offs. You're paying for schools and addresses, not houses.
• Maximum space markets: Hopkinton (3,624 sqft median), Lancaster (3,455 sqft) delivered 40-50% more space than typical $1M property.
• Premium compact markets: Lexington (1,600 sqft median), Arlington (1,550 sqft), Watertown (1,598 sqft) charged $600-850/sqft — double the state median.
• Best balanced value: Acton delivered 3,014 sqft at $950K median with good schools; Franklin provided 2,897 sqft with A-rated schools at $985K median.
• Market velocity: Properties sold fastest in Hingham (20 days median), followed by Andover, Franklin, Hanover, and Marshfield (all 10 days). Slowest in Marblehead (88 days), Lexington (69 days), Concord (54 days).
📋Dataset Overview
This analysis examines 368 single-family homes that sold between August and November 2025 in the $950,000-$1,050,000 price range across Massachusetts. All data reflects actual closed sales with confirmed transaction prices — no pending, contingent, or active listings included.
Data Sources & Methodology
🗺️Geographic Distribution: Where $1M Sales Concentrated
The 368 sales concentrated in specific markets, with clear patterns emerging:
| City | Sales | Med. Sqft | Med. Price | $/Sqft | Med. DOM |
|---|---|---|---|---|---|
| Andover | 13 | 2,305 | $1,000,000 | $434 | 45 |
| Hingham | 11 | 1,827 | $1,000,000 | $547 | 20 |
| Medford | 11 | 1,972 | $965,000 | $489 | 56 |
| Marblehead | 10 | 2,124 | $975,000 | $459 | 56 |
| Milton | 8 | 1,894 | $975,000 | $515 | 54 |
| North Andover | 8 | 2,730 | $961,500 | $352 | 42 |
| Lynnfield | 7 | 2,368 | $1,000,000 | $422 | 38 |
| Melrose | 7 | 1,950 | $1,000,000 | $513 | 28 |
| Marshfield | 6 | 3,045 | $1,002,500 | $329 | 10 |
| Waltham | 6 | 1,980 | $960,000 | $485 | 42 |
| Rehoboth | 6 | 3,000 | $995,000 | $332 | 55 |
| Hanover | 6 | 2,941 | $975,000 | $332 | 10 |
🎭The Value Spectrum: From Fantasy to Reality
Analysis of actual sold properties reveals a dramatic six-tier hierarchy, from ultra-premium markets where $1M buys compromises and sacrifices (Tier 0: Fantasy), through balanced family homes (Tiers 1-3), to compact premium locations where buyers trade space for proximity (Tiers 4-5). Explore how these towns rank in our Boston Prestige Index to understand the full picture of what drives these premiums.
⚠️TIER 0: The Fantasy Tier — Paying for the Address, Not the House
Where $1M Buys Sacrifice
The Reality Check: What $1M Actually Bought
Here are four actual properties that sold in the $1M range—each representing a different flavor of the Fantasy Tier compromise:
12 Valley Rd, Lexington, MA — The #1 School District Premium
⚠️ The Sacrifice: • One bathroom for three bedrooms — morning routines become family negotiations • 1,152 sqft total — 55% smaller than the MA median $1M home (2,560 sqft) • $846/sqft — 219% above state median, paying double for the Lexington address • 69 days to sell — even in #1 school district, buyers hesitated at this price-to-space ratio What You're Buying: Access to Lexington High (#2 ranked in MA), a 0.45-acre lot in an elite suburb, and the social capital of a Lexington address. What You're Not Getting: Adequate bathrooms, modern square footage, or space for growing families without immediate addition/renovation.
159 Payson Rd, Brookline, MA — Urban Prestige, Maximum Compromise
⚠️ The Sacrifice: • Three bedrooms sharing one bathroom — functionally obsolete for modern families • $762/sqft — nearly double the MA median, paying primarily for Brookline schools and location • 1,337 sqft — 48% smaller than median $1M home, less space than many 2-bedroom apartments • Urgent bathroom addition required — factor $50K-$100K+ for second bathroom before it's family-viable What You're Buying: Brookline High (#5 in MA), walkable access to Boston, Green Line proximity, Coolidge Corner dining/culture. What You're Not Getting: Functional bathroom count, modern living space, or move-in condition—this is a $1M renovation project.
333 Common St, Belmont, MA — The Bathroom Crisis Champion
⚠️ The Sacrifice: • Six bedrooms, ONE bathroom — mathematically and functionally absurd for 2025 • Clear conversion project — likely former multi-family or rooming house, needs complete reconfiguration • $150K-$250K renovation minimum — to add 2-3 bathrooms and modernize layout to single-family standards • Sold in 24 days — someone saw the Belmont address and accepted a major project What You're Buying: Belmont schools, proximity to Cambridge, a 2,196 sqft blank canvas on 5,669 sqft lot. What You're Not Getting: A livable house—this is a development project disguised as a single-family home. Budget $1.2M-$1.3M all-in.
18 Wiltshire Rd, Newton, MA — The 13-Village Compromise
⚠️ The Sacrifice: • 1,560 sqft in expensive Newton — 39% smaller than MA median $1M home • $618/sqft — paying 60% premium over MA median for Newton schools and Green Line access • Likely 1940s-1960s construction — expect original windows, heating systems, electrical needing updates • Secondary village location — not Newton Centre or Newtonville; entry-level Newton at near-$1M What You're Buying: Newton South High (#12 in MA), access to 13 villages, Green Line proximity, excellent restaurants. What You're Not Getting: Modern systems, premium village location, or space efficiency—plan $75K-$150K in deferred maintenance.
The Fantasy Tier Reality: Understanding the True Cost
Lexington (#2 schools), Brookline (#5 schools), Newton (#12 schools) command premiums of 60-200% over comparable homes elsewhere. The $1M isn't paying for the house—it's tuition disguised as real estate. See how these rank in our Boston Prestige Index.
🚧 Budget $100K-$250K for Immediate Renovation
One-bathroom homes need additions ($50K-$100K). Outdated systems need replacement ($30K-$75K). Six-bedroom conversions need total reconfiguration ($150K-$250K). Your $1M purchase becomes a $1.15M-$1.3M project.
⏱️ Extended Time on Market Reveals Buyer Hesitation
These properties averaged 39-83 days to sell (vs 10-20 days for well-priced homes). Even in elite markets, buyers recognized the compromises and negotiated hard or walked away.
📐 Space Sacrifice is Severe
Fantasy Tier homes averaged 1,500-1,600 sqft (40% below MA median $1M home). You're paying $600-850/sqft for 60% of the space. Alternative: Franklin (2,897 sqft, A-rated schools, $340/sqft) delivers comparable education with 90% more space.
💰 Only Justified If Schools Are Non-Negotiable
If your child's admission to top-tier high schools justifies any sacrifice, these markets make sense. If you value space, modern systems, or renovation-free living, pivot to Franklin, Acton, Sharon, or Hopkinton—excellent schools at 40-60% savings.
🏰 TIER 1: Maximum Space Markets (3,400+ sqft median)
These MetroWest communities delivered the most square footage per dollar, prioritizing space and land over proximity to Boston. Hopkinton and Lancaster represent the best space value in the $1M range across all of Massachusetts. Markets: Hopkinton (3,624 sqft, $1,010K median, $279/sqft, 3 sales) | Lancaster (3,455 sqft, $979.8K, $284/sqft, 3 sales)
Example Property: 28 Valleywood Rd, Hopkinton • Price: $1,010,000 • Size: 3,936 sqft • Layout: 4 bed / 3 bath • Lot: 1.45 acres • $/Sqft: $256 • Days on Market: 56 days
🏡 TIER 2: Large Home Markets (3,000-3,399 sqft median)
Mix of outer suburbs and South Shore towns offering substantial homes with solid school access and manageable commutes (35-45 minutes). The sweet spot for families who want significant space without Fantasy Tier compromises. Markets: Billerica (3,388 sqft, $977K) | Shrewsbury (3,176 sqft, $1,012K) | Marshfield (3,045 sqft, $1,002K) | Acton (3,014 sqft, $950K) | Rehoboth (3,000 sqft, $995K)
Example Property: 100 Elm St, Marshfield • Price: $1,040,000 • Size: 3,157 sqft • Layout: 5 bed / 4 bath • Lot: 0.29 acres • $/Sqft: $329 • Days on Market: 10 days Sold quickly (10 days) with generous square footage and proper bathroom count. Marshfield offers South Shore coastal proximity at reasonable $/sqft.
💎 TIER 3: Mid-Size Home Markets (2,500-2,999 sqft median)
Balanced markets offering solid family homes with good schools, reasonable commutes (25-40 minutes), and stable communities. The "sweet spot" for many buyers who want both space AND school quality. Best Value: Franklin (2,897 sqft, A-rated schools, $985K median, $340/sqft) delivers optimal balance. Markets: Chelmsford (2,984 sqft) | Hanover (2,941 sqft) | Franklin (2,897 sqft) | North Andover (2,730 sqft) | Sharon (2,716 sqft) | Sudbury (2,664 sqft) | Wayland (2,598 sqft)
Example Property: 7 Mink Trap Ln, Sharon • Price: $989,000 • Size: 2,658 sqft • Layout: 3 bed / 3 bath • Lot: 2.30 acres • $/Sqft: $372 • Days on Market: 17 days Sharon delivers excellent schools with substantial lots at competitive pricing. Compare Sharon with other school-focused towns using our Town Comparison Tool.
🏘️ TIER 4: Smaller Home Markets (2,000-2,499 sqft median)
Inner-ring suburbs and desirable towns where location, schools, and community commanded premiums. Buyers traded square footage for proximity and prestige. Markets: Woburn (2,494 sqft, $982K) | Lynnfield (2,368 sqft, $1M) | Andover (2,305 sqft, $1M) | Natick (2,298 sqft, $985K) | Marblehead (2,124 sqft, $975K)
Example Property: 15 North St, Andover • Price: $1,000,000 • Size: 2,764 sqft • Layout: 3 bed / 4 bath • Lot: 1.0 acres • $/Sqft: $361 • Days on Market: 10 days Andover commanded quick sales (10 days median) with solid schools and established prestige. Strong bathroom count (4) offsets smaller overall footprint.
🎯 TIER 5: Compact Premium Markets (<2,000 sqft median)
Elite suburbs and highly walkable urban locations where buyers paid extreme premiums for top-rated schools, Boston proximity, coastal access, or historic character. Space is sacrificed for location. Markets: Waltham (1,980 sqft, $485/sqft) | Medford (1,972 sqft, $489/sqft) | Melrose (1,950 sqft, $513/sqft) | Milton (1,894 sqft, $515/sqft) | Hingham (1,827 sqft, $547/sqft) | Concord (1,786 sqft, $560/sqft) | Lexington (1,600 sqft, $609/sqft) | Arlington (1,550 sqft, $632/sqft)
Example Property: 12 Valley Rd, Lexington (See detailed analysis in Fantasy Tier above) This property exemplifies Tier 5: paying $846/sqft for 1,152 sqft and tolerating a 1-bathroom configuration for the Lexington address.
⚡Market Dynamics: Days on Market Analysis
Days on market revealed which markets commanded fastest action versus those requiring patience:
Key Insight: Fast-moving markets (Hingham, Andover, Franklin) either offered exceptional value (Franklin, Marshfield) or had prestige + proper configuration (Andover, Hingham). Slow markets (Marblehead, Lexington, Concord) had either bathroom compromises or extreme $/sqft that required buyers to "talk themselves into" the purchase.
👥Key Takeaways by Buyer Profile
Not sure which profile fits you? Use our Decision Tree to find your ideal match, or explore towns by character in Town Vibes.
🏠Space Maximizers (Prioritize Square Footage)
Best Markets: Hopkinton (3,624 sqft), Lancaster (3,455 sqft), Billerica (3,388 sqft), Shrewsbury (3,176 sqft) What to Expect: 3,000-3,900 sqft homes, 0.8-1.5 acre lots, 35-50 minute commutes, average-to-good schools (6-8/10 ratings), $256-330/sqft Strategy: Accept longer commutes or remote work setup. Prioritize land and space over school rankings. Target Hopkinton or Lancaster for maximum $/sqft value.
🎓School-Focused Families (Top Districts Priority)
Best Markets: Franklin (2,897 sqft, A-rated schools, $985K median), Sharon (2,716 sqft, excellent schools, $998K median), Sudbury (2,664 sqft, very good schools, $1M median) What to Expect: 2,600-2,900 sqft homes, strong school ratings (8-10/10), 30-40 minute commutes, $340-390/sqft Strategy: Franklin delivers optimal balance—A-rated schools without Fantasy Tier compromises. Avoid Lexington/Brookline/Newton unless you're prepared for $1.2M-$1.3M all-in costs. Compare school districts using our School Analysis tool.
💼Commute-Conscious Professionals (Boston Access)
Best Markets: Medford (1,972 sqft, $965K, 7 miles from Boston), Melrose (1,950 sqft, $1M, 8 miles), Waltham (1,980 sqft, $960K, commuter rail) What to Expect: 1,900-2,000 sqft homes, 15-25 minute commutes, good transit access, $485-515/sqft Strategy: Accept smaller square footage for 15-20 minute commute advantage. Target Medford or Waltham for best value in this category. These markets moved moderately (28-56 days DOM), allowing time for due diligence.
🌊Coastal Lifestyle Seekers
Best Markets: Marshfield (3,045 sqft, $1,002K, South Shore beaches), Hanover (2,941 sqft, $975K, near coast), Marblehead (2,124 sqft, $975K, sailing town) What to Expect: 2,100-3,100 sqft homes, beach access or proximity, strong community character, 40-60% coastal premium over inland, $329-459/sqft Strategy: Marshfield offers best coastal value with generous square footage and fast sales (10 days). Marblehead requires patience (88 days DOM) but delivers authentic sailing town character. Compare these coastal towns using our Compare Towns tool.
🎯Bottom Line: Strategic Guidance
Six Strategic Rules for $1M Buyers
Lexington, Brookline, Newton, and Belmont delivered 1-bathroom homes, 1,150-2,200 sqft spaces, and $100K-$250K renovation requirements at $1M. Only justified if top-5 schools are absolutely non-negotiable and you budget $1.2M-$1.3M all-in for purchase + immediate renovation. Otherwise, Franklin and Acton deliver A-rated schools with 2-3X the space at move-in condition.
2. Maximum Space Strategy
Target Hopkinton or Lancaster for 3,400-3,600 sqft homes at $256-284/sqft. Accept 40-50 minute commutes and average schools. Ideal for remote workers prioritizing space and land.
3. Balanced Value Play
Franklin delivers optimal balance — 2,897 sqft median, A-rated schools, reasonable 35-minute commute, $340/sqft. Acton offers similar value (3,014 sqft at $950K). Both provide strong school systems without elite market premiums.
4. Premium Market Reality
Lexington, Arlington, and Concord charge $600-850/sqft for elite schools and prestige. Expect 1,500-1,800 sqft homes. Only justified if top-5 schools or walkable urban lifestyle are non-negotiable priorities.
5. Fast-Moving Markets Require Decisiveness
Hingham (20 days), Andover (10 days), Franklin (10 days), Marshfield (10 days) require immediate action. Pre-approval and quick decision-making essential. Marblehead (88 days) and Lexington (69 days) allow more deliberation despite prestige.
6. The Space Arbitrage Opportunity
A $1M budget buys 240% more space in Hopkinton (3,624 sqft median) than in Lexington (1,600 sqft). For buyers willing to commute or work remotely, the value gap is extraordinary.
Ready to Take Action?
- •Find your perfect match: Use our Town Finder to identify towns matching your priorities
- •Compare finalists: Use Town Comparison Tool to evaluate 2-3 towns head-to-head
- •Understand prestige factors: Review our Boston Prestige Index for detailed rankings
- •Get custom analysis: Need analysis for a different price point or specific property? Request Custom Research or Property Analysis
Data Source & Methodology
Methodology: Square footage, price per square foot, and days on market calculated from confirmed sold properties only. No active, pending, or contingent listings included. Markets with fewer than 3 sales excluded from tier analysis to ensure statistical relevance.
Analysis Date: November 10, 2025
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