Is Dedham, 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, Dedham has remained a Seller's Market.
Key Takeaway
Dedham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dedham, MA
How much do homes in Dedham, MA cost?
Median Sold Price
$707,500
$421/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Dedham have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Dedham was $707,500 in May 2024, up 10.4% from last year, and the median price per square foot was $421.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $309K | $360K | +16.5% |
| 2 Bedrooms | $500K | $540K | +8.0% |
| 3 Bedrooms | $625K | $686K | +9.8% |
| 4 Bedrooms | $800K | $830K | +3.8% |
| 5+ Bedrooms | $832.5K | $829K | -0.4% |
Summary: Dedham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 16.5%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes decreased by 0.4%.
Median Sold Price Compared To Nearby Cities
| Newton Center | $1.5M | $1.7M | +15.6% |
| Needham | $1.3M | $1.5M | +11.8% |
| Dedham | $641K | $707.5K | +10.4% |
| Canton | $665K | $715K | +7.5% |
| Westwood | $1.2M | $1.0M | -12.5% |
Housing Supply in Dedham, MA
How many homes are available in Dedham, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 68 | 75 | +10.3% |
Summary: The Dedham real estate market had 75 homes for sale in May 2024, a 10.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 24 | 25 | +4.2% |
| 4 Bedrooms | 21 | 24 | +14.3% |
| 5+ Bedrooms | 7 | 10 | +42.9% |
Summary: The Dedham 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 remained the same, 3 bedroom homes increased by 4.2%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 42.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 23 | 20 | -13.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dedham, you could pay more than the asking price. 55% of homes here sold above asking price last month.
Summary: A total of 20 homes were sold or pending in Dedham in May 2024, down by 13.0% month-over-month. Of the 20 sold homes, 25% were sold under asking, 20% were sold at asking, and 55% were sold over asking.
Days on Market for Dedham, MA
How long does it take to sell a home in Dedham, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 23 Days | +22.0% |
Summary: Homes in Dedham had an average of 23 days on market in May 2024, up by 22% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dedham are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 20 homes were sold in Dedham; 70% of homes were sold within 30 days, 30% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
