$10,000 Closing Credit*
$1,075,000
4,258 SqFt
5 Beds
•3 Full Baths, 1 Partial
#73314216, Britta Reissfelder Group, Listing Office: Coldwell Banker Realty - Canton
Is Medway, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
At the same time last year, Medway was a Seller's Market.
Key Takeaway
Medway 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 Medway, MA
How much do homes in Medway, MA cost?
Median Sold Price
$697,500
$326/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$40,000(+6.1%)
Key Takeaway
Homes in Medway have sold for 6.1% more than they did a year ago.
Summary: The median home sold price in Medway was $697,500 in October 2024, up 6.1% from last year, and the median price per square foot was $326.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $275K | 0.0% |
| 2 Bedrooms | $410K | $387.5K | -5.5% |
| 3 Bedrooms | $580K | $665K | +14.7% |
| 4 Bedrooms | $702.5K | $860K | +22.4% |
| 5+ Bedrooms | $840K | $868.5K | +3.4% |
Summary: Medway housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5.5%, 3 bedroom homes increased by 14.7%, 4 bedroom homes increased by 22.4%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Franklin Town | $597.5K | $680K | +13.8% |
| Franklin | $597.5K | $680K | +13.8% |
| Norfolk | $711.7K | $801.3K | +12.6% |
| Medway | $657.5K | $697.5K | +6.1% |
| Holliston | $675.5K | $700K | +3.6% |
Housing Supply in Medway, MA
How many homes are available in Medway, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 37 | 37 | 0.0% |
Summary: The Medway real estate market had 37 homes for sale in October 2024, the same as September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 6 | 7 | +16.7% |
| 3 Bedrooms | 18 | 16 | -11.1% |
| 4 Bedrooms | 9 | 11 | +22.2% |
| 5+ Bedrooms | 3 | 2 | -33.3% |
Summary: The Medway housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 16.7%, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 14 | 6 | -57.1% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medway, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Medway in October 2024, down by 57.1% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Medway, MA
How long does it take to sell a home in Medway, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 31 Days | 13 Days | -56.1% |
Summary: Homes in Medway had an average of 13 days on market in Oct 2024, down by 56.1% compared to last year.
Breakdown of Home Sale Times
5 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medway are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 6 homes were sold in Medway; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
