$10,000 Closing Credit*
$1,199,000
2,451 SqFt
4 Beds
•3 Full Baths
#73316877, Karen Regan, Listing Office: Lyv Realty
Is Medford, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$850,200
$503/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$87,066(+11.4%)
Key Takeaway
Homes in Medford have sold for 11.4% more than they did a year ago.
Summary: The median home sold price in Medford was $850,200 in November 2024, up 11.4% from last year, and the median price per square foot was $503.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | $562.5K | -6.3% |
| 2 Bedrooms | $600K | $628.7K | +4.8% |
| 3 Bedrooms | $760K | $850K | +11.8% |
| 4 Bedrooms | $940.5K | $981.5K | +4.4% |
| 5+ Bedrooms | $1.0M | $1.1M | +14.1% |
Summary: Medford housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.3%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 4.4%, and 5+ bedroom homes increased by 14.1%.
Median Sold Price Compared To Nearby Cities
| Somerville | $970K | $1.1M | +14.7% |
| Malden | $635.5K | $710K | +11.7% |
| Medford | $763.1K | $850.2K | +11.4% |
| Winchester | $1.3M | $1.4M | +7.4% |
| Everett | $655K | $650K | -0.8% |
Housing Supply in Medford, MA
How many homes are available in Medford, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 157 | 116 | -26.1% |
Summary: The Medford real estate market had 116 homes for sale in November 2024, a 26.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 7 | 0.0% |
| 2 Bedrooms | 32 | 23 | -28.1% |
| 3 Bedrooms | 48 | 33 | -31.3% |
| 4 Bedrooms | 31 | 26 | -16.1% |
| 5+ Bedrooms | 39 | 27 | -30.8% |
Summary: The Medford housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.1%, 3 bedroom homes decreased by 31.3%, 4 bedroom homes decreased by 16.1%, and 5+ bedroom homes decreased by 30.8%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 53 | 32 | -39.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medford, you could pay more than the asking price. 62.5% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in Medford in November 2024, down by 39.6% month-over-month. Of the 32 sold homes, 31% were sold under asking, 6% were sold at asking, and 63% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 35 Days | 21 Days | -38.8% |
Summary: Homes in Medford had an average of 21 days on market in Nov 2024, down by 38.8% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
0 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 November 2024, 32 homes were sold in Medford; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
