Is Palmer Town, 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 Town has remained a Seller's Market.
Key Takeaway
Palmer Town is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Palmer Town, MA
How much do homes in Palmer Town, MA cost?
Median Sold Price
$305,000
$193/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Palmer Town have sold for 8.9% more than they did a year ago.
Summary: The median home sold price in Palmer Town was $305,000 in May 2024, up 8.9% 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 | $235K | $220K | -6.4% |
| 3 Bedrooms | $276K | $295.5K | +7.1% |
| 4 Bedrooms | $295K | $339.9K | +15.2% |
| 5+ Bedrooms | $350K | $335.7K | -4.1% |
Summary: Palmer Town 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 decreased by 6.4%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 15.2%, and 5+ bedroom homes decreased by 4.1%.
Housing Supply in Palmer Town, MA
How many homes are available in Palmer Town, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 32 | 36 | +12.5% |
Summary: The Palmer Town real estate market had 36 homes for sale in May 2024, a 12.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 2 | 3 | +50.0% |
| 3 Bedrooms | 17 | 17 | 0.0% |
| 4 Bedrooms | 4 | 5 | +25.0% |
| 5+ Bedrooms | 9 | 10 | +11.1% |
Summary: The Palmer Town housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes increased by 50%, 3 bedroom homes remained the same, 4 bedroom homes increased by 25%, and 5+ bedroom homes increased by 11.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 12 | -20.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Palmer Town, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Palmer Town in May 2024, down by 20.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 8% were sold at asking, and 67% were sold over asking.
Days on Market for Palmer Town, MA
How long does it take to sell a home in Palmer Town, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 43 Days | 22 Days | -49.0% |
Summary: Homes in Palmer Town had an average of 22 days on market in May 2024, down by 49% compared to last year.
Breakdown of Home Sale Times
10 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 Town are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 12 homes were sold in Palmer Town; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
