$6,595,000
9,494 SqFt
6 Beds
•7 Full Baths, 1 Partial
#73318903, Teri Adler, Listing Office: MGS Group Real Estate LTD - Wellesley
Is Wellesley, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 2023
At the same time last year, Wellesley was a Neutral 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
$2,095,000
$664/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$331,666(+18.8%)
Key Takeaway
Homes in Wellesley have sold for 18.8% more than they did a year ago.
Summary: The median home sold price in Wellesley was $2,095,000 in November 2024, up 18.8% from last year, and the median price per square foot was $664.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $750K | $800K | +6.7% |
| 2 Bedrooms | $989K | $1.8M | +83.9% |
| 3 Bedrooms | $1.2M | $1.4M | +20.2% |
| 4 Bedrooms | $1.8M | $2.0M | +9.3% |
| 5+ Bedrooms | $2.9M | $2.7M | -5.7% |
Summary: Wellesley housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 83.9%, 3 bedroom homes increased by 20.2%, 4 bedroom homes increased by 9.3%, and 5+ bedroom homes decreased by 5.7%.
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% |
| Weston | $2.2M | $2.3M | +5.1% |
| Needham Heights | $1.3M | $1.2M | -5.4% |
Housing Supply in Wellesley, MA
How many homes are available in Wellesley, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 103 | 80 | -22.3% |
Summary: The Wellesley real estate market had 80 homes for sale in November 2024, a 22.3% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 11 | 10 | -9.1% |
| 3 Bedrooms | 21 | 13 | -38.1% |
| 4 Bedrooms | 25 | 18 | -28.0% |
| 5+ Bedrooms | 43 | 36 | -16.3% |
Summary: The Wellesley housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 9.1%, 3 bedroom homes decreased by 38.1%, 4 bedroom homes decreased by 28%, and 5+ bedroom homes decreased by 16.3%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 27 | 16 | -40.7% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellesley, you could pay more than the asking price. 43.8% of homes here sold above asking price last month.
Summary: A total of 16 homes were sold or pending in Wellesley in November 2024, down by 40.7% month-over-month. Of the 16 sold homes, 38% were sold under asking, 19% were sold at asking, and 44% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 37 Days | 28 Days | -25.3% |
Summary: Homes in Wellesley had an average of 28 days on market in Nov 2024, down by 25.3% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
3 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 November 2024, 16 homes were sold in Wellesley; 69% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 13% of homes were sold over 90 days.
