Boston Globe 2/15/09: Strained relations among neighbors. In ultrarich Weston, the median sales price of a single-family home sold last year climbed 7.5 percent, to $1.3 million. In neighboring Wayland, home prices dropped a whopping 20 percent, to a median of $505,000. Jeff Morgenstern, a Coldwell Banker manager in Wayland, said a soft real estate climate is making Weston, Wellesley, and Newton more accessible. Ironically, the result is a concentration of demand that has pushed some home prices up in those communities. “The market in Wellesley and Newton becoming so overpriced is what created the million-dollar market in Wayland,” he said. “Now it’s easier to buy in those places, so people give less consideration to the high-end in Wayland.”
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