Is Amherst, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Amherst has remained a Seller's Market.
Key Takeaway
Amherst is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Amherst, MA
How much do homes in Amherst, MA cost?
Median Sold Price
$469,500
$274/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
The sold price of homes in Amherst has remained the same since last year.
Summary: The median home sold price in Amherst was $469,500 in May 2024, down 0.1% from last year, and the median price per square foot was $274.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $192.4K | $191.5K | -0.5% |
| 2 Bedrooms | $260K | $294.5K | +13.3% |
| 3 Bedrooms | $435K | $427.5K | -1.7% |
| 4 Bedrooms | $515K | $575K | +11.7% |
| 5+ Bedrooms | $731.5K | $730K | -0.2% |
Summary: Amherst housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes increased by 13.3%, 3 bedroom homes decreased by 1.7%, 4 bedroom homes increased by 11.7%, and 5+ bedroom homes decreased by 0.2%.
Median Sold Price Compared To Nearby Cities
| Granby | $295K | $355K | +20.3% |
| Pelham | $439.2K | $465K | +5.9% |
| Hadley | $557.4K | $564.1K | +1.2% |
| Amherst | $470K | $469.5K | -0.1% |
Housing Supply in Amherst, MA
How many homes are available in Amherst, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 62 | 71 | +14.5% |
Summary: The Amherst real estate market had 71 homes for sale in May 2024, a 14.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 7 | 8 | +14.3% |
| 3 Bedrooms | 18 | 23 | +27.8% |
| 4 Bedrooms | 24 | 26 | +8.3% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Amherst housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 27.8%, 4 bedroom homes increased by 8.3%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 17 | +41.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Amherst, you could pay more than the asking price. 47.1% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Amherst in May 2024, up by 41.7% month-over-month. Of the 17 sold homes, 24% were sold under asking, 29% were sold at asking, and 47% were sold over asking.
Days on Market for Amherst, MA
How long does it take to sell a home in Amherst, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 32 Days | -3.9% |
Summary: Homes in Amherst had an average of 32 days on market in May 2024, down by 3.9% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Amherst are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 17 homes were sold in Amherst; 82% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
