$10,000 Closing Credit*
$2,195,000
3,104 SqFt
5 Beds
•2 Full Baths, 1 Partial
#73314492, Gail Lockberg, Listing Office: Berkshire Hathaway HomeServices Town and Country Real Estate
Is Wellesley, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Wellesley has remained a Seller's Market.
Key Takeaway
Wellesley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wellesley, MA
How much do homes in Wellesley, MA cost?
Median Sold Price
$2,076,625
$664/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$316,625(+18.0%)
Key Takeaway
Homes in Wellesley have sold for 18% more than they did a year ago.
Summary: The median home sold price in Wellesley was $2,076,625 in October 2024, up 18% from last year, and the median price per square foot was $664.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $750K | $912.5K | +21.7% |
| 2 Bedrooms | $997K | $1.8M | +82.4% |
| 3 Bedrooms | $1.2M | $1.4M | +20.8% |
| 4 Bedrooms | $1.8M | $2.0M | +9.7% |
| 5+ Bedrooms | $2.9M | $2.6M | -8.8% |
Summary: Wellesley housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.7%, 2 bedroom homes increased by 82.4%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 9.7%, and 5+ bedroom homes decreased by 8.8%.
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% |
| Weston | $2.2M | $2.2M | 0.0% |
Housing Supply in Wellesley, MA
How many homes are available in Wellesley, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 100 | 105 | +5.0% |
Summary: The Wellesley real estate market had 105 homes for sale in October 2024, a 5.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 12 | 13 | +8.3% |
| 3 Bedrooms | 21 | 22 | +4.8% |
| 4 Bedrooms | 27 | 24 | -11.1% |
| 5+ Bedrooms | 39 | 44 | +12.8% |
Summary: The Wellesley housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 8.3%, 3 bedroom homes increased by 4.8%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes increased by 12.8%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 16 | 29 | +81.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellesley, you could pay more than the asking price. 44.8% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Wellesley in October 2024, up by 81.3% month-over-month. Of the 29 sold homes, 38% were sold under asking, 17% were sold at asking, and 45% were sold over asking.
Days on Market for Wellesley, MA
How long does it take to sell a home in Wellesley, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 27 Days | +53.4% |
Summary: Homes in Wellesley had an average of 27 days on market in Oct 2024, up by 53.4% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
7 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wellesley are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 29 homes were sold in Wellesley; 69% of homes were sold within 30 days, 24% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
