$5,343 Closing Credit*
$449,900
1,403 SqFt
3 Beds
•1 Full Bath, 1 Partial
#73320406, The Real Team, Listing Office: Berkshire Hathaway HomeServices Commonwealth Real Estate
Is Medway, 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, Medway has remained a Seller's Market.
Key Takeaway
Medway is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medway, MA
How much do homes in Medway, MA cost?
Median Sold Price
$692,500
$331/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$13,000(+1.9%)
Key Takeaway
Homes in Medway have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Medway was $692,500 in November 2024, up 1.9% from last year, and the median price per square foot was $331.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $275K | 0.0% |
| 2 Bedrooms | $417.5K | $450K | +7.8% |
| 3 Bedrooms | $605K | $660K | +9.1% |
| 4 Bedrooms | $735K | $860K | +17.0% |
| 5+ Bedrooms | $840K | $950K | +13.1% |
Summary: Medway housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 7.8%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 17%, and 5+ bedroom homes increased by 13.1%.
Median Sold Price Compared To Nearby Cities
| Norfolk | $709.6K | $811.8K | +14.4% |
| Franklin Town | $607.3K | $666.6K | +9.8% |
| Franklin | $607.3K | $666.6K | +9.8% |
| Holliston | $680K | $699.9K | +2.9% |
| Medway | $679.5K | $692.5K | +1.9% |
Housing Supply in Medway, MA
How many homes are available in Medway, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 38 | 40 | +5.3% |
Summary: The Medway real estate market had 40 homes for sale in November 2024, a 5.3% increase compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 8 | 8 | 0.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 12 | 10 | -16.7% |
| 5+ Bedrooms | 2 | 4 | +100.0% |
Summary: The Medway housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 16.7%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 7 | 12 | +71.4% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medway, you could pay more than the asking price. 91.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Medway in November 2024, up by 71.4% month-over-month. Of the 12 sold homes, 0% were sold under asking, 8% were sold at asking, and 92% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 29 Days | 15 Days | -48.6% |
Summary: Homes in Medway had an average of 15 days on market in Nov 2024, down by 48.6% compared to last year.
Breakdown of Home Sale Times
11 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 November 2024, 12 homes were sold in Medway; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
