$10,000 Closing Credit*
$2,495,000
5,450 SqFt
4 Beds
•5 Full Baths, 1 Partial
#73319410, The Varano Realty Group, Listing Office: Keller Williams Realty
Is Needham, 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, Needham has remained a Seller's Market.
Key Takeaway
Needham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Needham, MA
How much do homes in Needham, MA cost?
Median Sold Price
$1,534,500
$517/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$143,250(+10.3%)
Key Takeaway
Homes in Needham have sold for 10.3% more than they did a year ago.
Summary: The median home sold price in Needham was $1,534,500 in November 2024, up 10.3% from last year, and the median price per square foot was $517.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $347.7K | $375K | +7.8% |
| 2 Bedrooms | $575K | $680K | +18.3% |
| 3 Bedrooms | $1.0M | $1.1M | +4.0% |
| 4 Bedrooms | $1.4M | $1.5M | +0.7% |
| 5+ Bedrooms | $2.4M | $2.4M | +2.9% |
Summary: Needham housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.8%, 2 bedroom homes increased by 18.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 0.7%, and 5+ bedroom homes increased by 2.9%.
Median Sold Price Compared To Nearby Cities
| Wellesley | $1.7M | $2.0M | +18.8% |
| Wellesley Hills | $1.9M | $2.2M | +12.2% |
| Needham | $1.3M | $1.5M | +10.3% |
| Dover | $1.7M | $1.6M | -4.2% |
| Needham Heights | $1.3M | $1.2M | -5.4% |
Housing Supply in Needham, MA
How many homes are available in Needham, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 95 | 90 | -5.3% |
Summary: The Needham real estate market had 90 homes for sale in November 2024, a 5.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 4 | -20.0% |
| 2 Bedrooms | 4 | 3 | -25.0% |
| 3 Bedrooms | 13 | 12 | -7.7% |
| 4 Bedrooms | 28 | 21 | -25.0% |
| 5+ Bedrooms | 45 | 50 | +11.1% |
Summary: The Needham housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 20%, 2 bedroom homes decreased by 25%, 3 bedroom homes decreased by 7.7%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 14 | 26 | +85.7% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Needham, you may be able to get a good deal. 42.3% of homes here sold below asking price last month.
Summary: A total of 26 homes were sold or pending in Needham in November 2024, up by 85.7% month-over-month. Of the 26 sold homes, 42% were sold under asking, 19% were sold at asking, and 38% were sold over asking.
Days on Market for Needham, MA
How long does it take to sell a home in Needham, MA?
Average Sale Time
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 38 Days | 30 Days | -21.8% |
Summary: Homes in Needham had an average of 30 days on market in Nov 2024, down by 21.8% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Needham are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 26 homes were sold in Needham; 69% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
