Is Palmer, 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, Palmer has remained a Seller's Market.
Key Takeaway
Palmer is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmer, MA
How much do homes in Palmer, MA cost?
Median Sold Price
$318,700
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palmer have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Palmer was $318,700 in May 2024, up 11.5% from last year, and the median price per square foot was $193.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $237.5K | $250K | +5.3% |
| 3 Bedrooms | $283.2K | $311K | +9.8% |
| 4 Bedrooms | $305K | $340K | +11.5% |
| 5+ Bedrooms | $338.5K | $350K | +3.4% |
Summary: Palmer housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 11.5%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Palmer | $285.9K | $318.7K | +11.5% |
| Palmer Town | $280K | $305K | +8.9% |
Housing Supply in Palmer, MA
How many homes are available in Palmer, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 24 | -7.7% |
Summary: The Palmer real estate market had 24 homes for sale in May 2024, a 7.7% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 13 | 11 | -15.4% |
| 4 Bedrooms | 4 | 3 | -25.0% |
| 5+ Bedrooms | 8 | 8 | 0.0% |
Summary: The Palmer 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 100%, 3 bedroom homes decreased by 15.4%, 4 bedroom homes decreased by 25%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 9 | -30.8% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
5 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmer, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 9 homes were sold or pending in Palmer in May 2024, down by 30.8% month-over-month. Of the 9 sold homes, 33% were sold under asking, 11% were sold at asking, and 56% were sold over asking.
Days on Market for Palmer, MA
How long does it take to sell a home in Palmer, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 52 Days | 24 Days | -53.4% |
Summary: Homes in Palmer had an average of 24 days on market in May 2024, down by 53.4% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Palmer are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 9 homes were sold in Palmer; 78% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
