Is Framingham, 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, Framingham has remained a Seller's Market.
Key Takeaway
Framingham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Framingham, MA
How much do homes in Framingham, MA cost?
Median Sold Price
$636,208
$357/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Framingham have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Framingham was $636,208 in May 2024, up 6.8% from last year, and the median price per square foot was $357.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $225K | $240K | +6.7% |
| 2 Bedrooms | $389.9K | $427.5K | +9.6% |
| 3 Bedrooms | $560K | $615K | +9.8% |
| 4 Bedrooms | $710K | $780K | +9.9% |
| 5+ Bedrooms | $735.5K | $800K | +8.8% |
Summary: Framingham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 8.8%.
Housing Supply in Framingham, MA
How many homes are available in Framingham, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 139 | 154 | +10.8% |
Summary: The Framingham real estate market had 154 homes for sale in May 2024, a 10.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 4 | -42.9% |
| 2 Bedrooms | 23 | 23 | 0.0% |
| 3 Bedrooms | 65 | 71 | +9.2% |
| 4 Bedrooms | 31 | 39 | +25.8% |
| 5+ Bedrooms | 13 | 17 | +30.8% |
Summary: The Framingham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 42.9%, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes increased by 30.8%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 41 | 50 | +22.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
43 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Framingham, you could pay more than the asking price. 86% of homes here sold above asking price last month.
Summary: A total of 50 homes were sold or pending in Framingham in May 2024, up by 22.0% month-over-month. Of the 50 sold homes, 10% were sold under asking, 4% were sold at asking, and 86% were sold over asking.
Days on Market for Framingham, MA
How long does it take to sell a home in Framingham, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 22 Days | -22.4% |
Summary: Homes in Framingham had an average of 22 days on market in May 2024, down by 22.4% compared to last year.
Breakdown of Home Sale Times
43 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Framingham are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 50 homes were sold in Framingham; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
