Is Wellesley, 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, Wellesley has remained a Seller's Market.
Key Takeaway
Wellesley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wellesley, MA
How much do homes in Wellesley, MA cost?
Median Sold Price
$1,935,500
$626/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wellesley have sold for 7.5% more than they did a year ago.
Summary: The median home sold price in Wellesley was $1,935,500 in May 2024, up 7.5% from last year, and the median price per square foot was $626.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $716K | N/A |
| 2 Bedrooms | $907.5K | $1.3M | +50.7% |
| 3 Bedrooms | $1.2M | $1.4M | +10.3% |
| 4 Bedrooms | $1.8M | $1.9M | +4.1% |
| 5+ Bedrooms | $2.6M | $2.8M | +7.6% |
Summary: Wellesley 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 50.7%, 3 bedroom homes increased by 10.3%, 4 bedroom homes increased by 4.1%, and 5+ bedroom homes increased by 7.6%.
Median Sold Price Compared To Nearby Cities
| Needham | $1.3M | $1.5M | +11.8% |
| Wellesley Hills | $2.0M | $2.2M | +10.7% |
| Weston | $2.0M | $2.2M | +10.4% |
| Needham Heights | $1.3M | $1.4M | +7.9% |
| Wellesley | $1.8M | $1.9M | +7.5% |
Housing Supply in Wellesley, MA
How many homes are available in Wellesley, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 116 | 130 | +12.1% |
Summary: The Wellesley real estate market had 130 homes for sale in May 2024, a 12.1% 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 | 16 | 15 | -6.3% |
| 3 Bedrooms | 23 | 21 | -8.7% |
| 4 Bedrooms | 30 | 42 | +40.0% |
| 5+ Bedrooms | 46 | 51 | +10.9% |
Summary: The Wellesley 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 decreased by 6.3%, 3 bedroom homes decreased by 8.7%, 4 bedroom homes increased by 40%, and 5+ bedroom homes increased by 10.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 25 | -10.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
6 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellesley, you could pay more than the asking price. 52% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Wellesley in May 2024, down by 10.7% month-over-month. Of the 25 sold homes, 24% were sold under asking, 24% were sold at asking, and 52% were sold over asking.
Days on Market for Wellesley, MA
How long does it take to sell a home in Wellesley, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 37 Days | 34 Days | -7.7% |
Summary: Homes in Wellesley had an average of 34 days on market in May 2024, down by 7.7% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wellesley are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 25 homes were sold in Wellesley; 84% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
