Is Dorchester, 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, Dorchester has remained a Seller's Market.
Key Takeaway
Dorchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dorchester, MA
How much do homes in Dorchester, MA cost?
Median Sold Price
$708,333
$453/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Dorchester have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Dorchester was $708,333 in May 2024, up 1.9% from last year, and the median price per square foot was $453.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $362.5K | $387K | +6.8% |
| 2 Bedrooms | $550K | $580K | +5.5% |
| 3 Bedrooms | $635.7K | $650K | +2.2% |
| 4 Bedrooms | $782K | $800K | +2.3% |
| 5+ Bedrooms | $975K | $1.0M | +5.1% |
Summary: Dorchester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.8%, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 2.2%, 4 bedroom homes increased by 2.3%, and 5+ bedroom homes increased by 5.1%.
Median Sold Price Compared To Nearby Neighborhoods
| Meeting House Hill | $596.4K | $790K | +32.5% |
| Dorchester | $695K | $708.3K | +1.9% |
| Mount Bowdoin | $790K | $767.5K | -2.8% |
| Neponset | $710K | $660K | -7.0% |
| Savin Hill | $985K | $818K | -17.0% |
Housing Supply in Dorchester, MA
How many homes are available in Dorchester, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 187 | 184 | -1.6% |
Summary: The Dorchester real estate market had 184 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 | 11 | 10 | -9.1% |
| 2 Bedrooms | 50 | 56 | +12.0% |
| 3 Bedrooms | 52 | 50 | -3.8% |
| 4 Bedrooms | 18 | 12 | -33.3% |
| 5+ Bedrooms | 56 | 56 | 0.0% |
Summary: The Dorchester housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 9.1%, 2 bedroom homes increased by 12%, 3 bedroom homes decreased by 3.8%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 51 | 49 | -3.9% |
Asking Price vs. Sold Price
23 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dorchester, you may be able to get a good deal. 46.9% of homes here sold below asking price last month.
Summary: A total of 49 homes were sold or pending in Dorchester in May 2024, down by 3.9% month-over-month. Of the 49 sold homes, 47% were sold under asking, 18% were sold at asking, and 35% were sold over asking.
Days on Market for Dorchester, MA
How long does it take to sell a home in Dorchester, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 57 Days | 27 Days | -52.4% |
Summary: Homes in Dorchester had an average of 27 days on market in May 2024, down by 52.4% compared to last year.
Breakdown of Home Sale Times
33 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dorchester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 49 homes were sold in Dorchester; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
