$10,000 Closing Credit*
$2,095,000
3,979 SqFt
5 Beds
•4 Full Baths, 1 Partial
#73314027, 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 October 2023
At the same time last year, Needham was a Seller's Market.
Key Takeaway
Needham is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Needham, MA
How much do homes in Needham, MA cost?
Median Sold Price
$1,558,333
$508/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$206,666(+15.3%)
Key Takeaway
Homes in Needham have sold for 15.3% more than they did a year ago.
Summary: The median home sold price in Needham was $1,558,333 in October 2024, up 15.3% from last year, and the median price per square foot was $508.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $347.7K | $400K | +15.0% |
| 2 Bedrooms | $522.5K | $735K | +40.7% |
| 3 Bedrooms | $1.0M | $1.1M | +4.4% |
| 4 Bedrooms | $1.4M | $1.5M | +6.7% |
| 5+ Bedrooms | $2.4M | $2.4M | 0.0% |
Summary: Needham housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15%, 2 bedroom homes increased by 40.7%, 3 bedroom homes increased by 4.4%, 4 bedroom homes increased by 6.7%, and 5+ bedroom homes did not change.
Median Sold Price Compared To Nearby Cities
| Wellesley | $1.7M | $2.0M | +18.0% |
| Needham | $1.3M | $1.5M | +15.3% |
| Wellesley Hills | $1.9M | $2.2M | +13.6% |
| Needham Heights | $1.2M | $1.2M | +0.8% |
| Dover | $1.7M | $1.6M | -1.9% |
Housing Supply in Needham, MA
How many homes are available in Needham, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 86 | 96 | +11.6% |
Summary: The Needham real estate market had 96 homes for sale in October 2024, a 11.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 5 | +66.7% |
| 2 Bedrooms | 2 | 4 | +100.0% |
| 3 Bedrooms | 12 | 12 | 0.0% |
| 4 Bedrooms | 24 | 28 | +16.7% |
| 5+ Bedrooms | 45 | 47 | +4.4% |
Summary: The Needham housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 66.7%, 2 bedroom homes increased by 100%, 3 bedroom homes remained the same, 4 bedroom homes increased by 16.7%, and 5+ bedroom homes increased by 4.4%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 17 | 12 | -29.4% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Needham, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Needham in October 2024, down by 29.4% month-over-month. Of the 12 sold homes, 42% were sold under asking, 8% were sold at asking, and 50% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 35 Days | 32 Days | -7.9% |
Summary: Homes in Needham had an average of 32 days on market in Oct 2024, down by 7.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Needham are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 12 homes were sold in Needham; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 8% of homes were sold over 90 days.
