Is Wakefield, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Wakefield has remained a Seller's Market.
Key Takeaway
Wakefield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wakefield, MA
How much do homes in Wakefield, MA cost?
Median Sold Price
$725,000
$420/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Wakefield have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Wakefield was $725,000 in April 2024, up 6.6% from last year, and the median price per square foot was $420.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $479.9K | $330K | -31.2% |
| 2 Bedrooms | $489K | $605K | +23.7% |
| 3 Bedrooms | $705K | $728K | +3.3% |
| 4 Bedrooms | $789.4K | $878K | +11.2% |
| 5+ Bedrooms | $860K | $912.5K | +6.1% |
Summary: Wakefield housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 31.2%, 2 bedroom homes increased by 23.7%, 3 bedroom homes increased by 3.3%, 4 bedroom homes increased by 11.2%, and 5+ bedroom homes increased by 6.1%.
Housing Supply in Wakefield, MA
How many homes are available in Wakefield, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 41 | 50 | +22.0% |
Summary: The Wakefield real estate market had 50 homes for sale in April 2024, a 22.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 6 | +500.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 15 | 19 | +26.7% |
| 4 Bedrooms | 13 | 13 | 0.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Wakefield housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 500%, 2 bedroom homes remained the same, 3 bedroom homes increased by 26.7%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 8 | 17 | +112.5% |
Asking Price vs. Sold Price
2 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 Wakefield, you could pay more than the asking price. 82.4% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Wakefield in April 2024, up by 112.5% month-over-month. Of the 17 sold homes, 12% were sold under asking, 6% were sold at asking, and 82% were sold over asking.
Days on Market for Wakefield, MA
How long does it take to sell a home in Wakefield, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 11 Days | -54.7% |
Summary: Homes in Wakefield had an average of 11 days on market in Apr 2024, down by 54.7% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wakefield are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 17 homes were sold in Wakefield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
