$6,519 Closing Credit*
$549,000
1,243 SqFt
3 Beds
•2 Full Baths
#73323027, Lucille Murray, Listing Office: Compass
Is Medford, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Medford has remained a Seller's Market.
Key Takeaway
Medford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medford, MA
How much do homes in Medford, MA cost?
Median Sold Price
$850,000
$500/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$68,616(+8.8%)
Key Takeaway
Homes in Medford have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Medford was $850,000 in December 2024, up 8.8% from last year, and the median price per square foot was $500.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | $529.9K | -11.7% |
| 2 Bedrooms | $623.5K | $626K | 0.4% |
| 3 Bedrooms | $769K | $850K | +10.5% |
| 4 Bedrooms | $965K | $992.9K | +2.9% |
| 5+ Bedrooms | $1.0M | $1.1M | +15.3% |
Summary: Medford housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.7%, 2 bedroom homes increased by 0.4%, 3 bedroom homes increased by 10.5%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes increased by 15.3%.
Median Sold Price Compared To Nearby Cities
| Somerville | $979.9K | $1.1M | +13.2% |
| Malden | $650K | $715K | +10.0% |
| Medford | $781.3K | $850K | +8.8% |
| Winchester | $1.3M | $1.4M | +7.5% |
| Everett | $670K | $655K | -2.2% |
Housing Supply in Medford, MA
How many homes are available in Medford, MA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 105 | 78 | -25.7% |
Summary: The Medford real estate market had 78 homes for sale in December 2024, a 25.7% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 5 | 0.0% |
| 2 Bedrooms | 23 | 21 | -8.7% |
| 3 Bedrooms | 31 | 20 | -35.5% |
| 4 Bedrooms | 18 | 13 | -27.8% |
| 5+ Bedrooms | 28 | 19 | -32.1% |
Summary: The Medford housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 8.7%, 3 bedroom homes decreased by 35.5%, 4 bedroom homes decreased by 27.8%, and 5+ bedroom homes decreased by 32.1%.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 34 | 33 | -2.9% |
Asking Price vs. Sold Price
20 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medford, you may be able to get a good deal. 60.6% of homes here sold below asking price last month.
Summary: A total of 33 homes were sold or pending in Medford in December 2024, down by 2.9% month-over-month. Of the 33 sold homes, 61% were sold under asking, 6% were sold at asking, and 33% were sold over asking.
Days on Market for Medford, MA
How long does it take to sell a home in Medford, MA?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 27 Days | 44 Days | +60.8% |
Summary: Homes in Medford had an average of 44 days on market in Dec 2024, up by 60.8% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
13 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medford are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 33 homes were sold in Medford; 52% of homes were sold within 30 days, 39% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
