Is East Longmeadow, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, East Longmeadow was a Seller's Market.
Key Takeaway
East Longmeadow is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in East Longmeadow, MA
How much do homes in East Longmeadow, MA cost?
Median Sold Price
$369,950
$222/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in East Longmeadow have sold for 2.8% more than they did a year ago.
Summary: The median home sold price in East Longmeadow was $369,950 in May 2024, up 2.8% from last year, and the median price per square foot was $222.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $299.9K | $297K | -1.0% |
| 3 Bedrooms | $341.8K | $330K | -3.5% |
| 4 Bedrooms | $409.5K | $470K | +14.8% |
| 5+ Bedrooms | $385K | $490K | +27.3% |
Summary: East Longmeadow 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 decreased by 1%, 3 bedroom homes decreased by 3.5%, 4 bedroom homes increased by 14.8%, and 5+ bedroom homes increased by 27.3%.
Median Sold Price Compared To Nearby Cities
| Hampden | $350K | $405K | +15.7% |
| Springfield | $262.3K | $290K | +10.5% |
| Wilbraham | $400K | $435K | +8.8% |
| East Longmeadow | $360K | $369.9K | +2.8% |
Housing Supply in East Longmeadow, MA
How many homes are available in East Longmeadow, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 33 | 52 | +57.6% |
Summary: The East Longmeadow real estate market had 52 homes for sale in May 2024, a 57.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 8 | +100.0% |
| 3 Bedrooms | 8 | 20 | +150.0% |
| 4 Bedrooms | 13 | 14 | +7.7% |
| 5+ Bedrooms | 7 | 9 | +28.6% |
Summary: The East Longmeadow housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 150%, 4 bedroom homes increased by 7.7%, and 5+ bedroom homes increased by 28.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 8 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in East Longmeadow, you could pay more than the asking price. 87.5% of homes here sold above asking price last month.
Summary: A total of 8 homes were sold or pending in East Longmeadow in May 2024, the same as the previous month. Of the 8 sold homes, 13% were sold under asking, 0% were sold at asking, and 88% were sold over asking.
Days on Market for East Longmeadow, MA
How long does it take to sell a home in East Longmeadow, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 18 Days | -46.0% |
Summary: Homes in East Longmeadow had an average of 18 days on market in May 2024, down by 46% compared to last year.
Breakdown of Home Sale Times
7 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 East Longmeadow are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in East Longmeadow; 88% 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.
