Is Ludlow, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Ludlow has remained a Seller's Market.
Key Takeaway
Ludlow is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Ludlow, MA
How much do homes in Ludlow, MA cost?
Median Sold Price
$320,000
$220/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Ludlow have sold for 8.5% more than they did a year ago.
Summary: The median home sold price in Ludlow was $320,000 in May 2024, up 8.5% from last year, and the median price per square foot was $220.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $107K | - | N/A |
| 2 Bedrooms | $240K | $277.4K | +15.6% |
| 3 Bedrooms | $300K | $325.5K | +8.5% |
| 4 Bedrooms | $315K | $357.5K | +13.5% |
| 5+ Bedrooms | $350K | $374K | +6.9% |
Summary: Ludlow housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 15.6%, 3 bedroom homes increased by 8.5%, 4 bedroom homes increased by 13.5%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
| Springfield | $262.3K | $290K | +10.5% |
| Wilbraham | $400K | $435K | +8.8% |
| Ludlow | $295K | $320K | +8.5% |
| Chicopee | $271.4K | $283.2K | +4.4% |
Housing Supply in Ludlow, MA
How many homes are available in Ludlow, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 62 | 61 | -1.6% |
Summary: The Ludlow real estate market had 61 homes for sale in May 2024, a 1.6% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 13 | 9 | -30.8% |
| 3 Bedrooms | 35 | 38 | +8.6% |
| 4 Bedrooms | 10 | 8 | -20.0% |
| 5+ Bedrooms | 3 | 4 | +33.3% |
Summary: The Ludlow housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 30.8%, 3 bedroom homes increased by 8.6%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes increased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 18 | 19 | +5.6% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
14 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Ludlow, you could pay more than the asking price. 73.7% of homes here sold above asking price last month.
Summary: A total of 19 homes were sold or pending in Ludlow in May 2024, up by 5.6% month-over-month. Of the 19 sold homes, 21% were sold under asking, 5% were sold at asking, and 74% were sold over asking.
Days on Market for Ludlow, MA
How long does it take to sell a home in Ludlow, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 23 Days | +21.9% |
Summary: Homes in Ludlow had an average of 23 days on market in May 2024, up by 21.9% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Ludlow are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 19 homes were sold in Ludlow; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
