Is South Weymouth, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, South Weymouth was a Seller's Market.
Key Takeaway
South Weymouth is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in South Weymouth, MA
How much do homes in South Weymouth, MA cost?
Median Sold Price
$585,000
$370/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in South Weymouth have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in South Weymouth was $585,000 in May 2024, up 10.4% from last year, and the median price per square foot was $370.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $263.7K | $274.9K | +4.2% |
| 2 Bedrooms | $350K | $375K | +7.1% |
| 3 Bedrooms | $560K | $650K | +16.1% |
| 4 Bedrooms | $730K | $812.5K | +11.3% |
| 5+ Bedrooms | $775K | $740K | -4.5% |
Summary: South Weymouth housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.2%, 2 bedroom homes increased by 7.1%, 3 bedroom homes increased by 16.1%, 4 bedroom homes increased by 11.3%, and 5+ bedroom homes decreased by 4.5%.
Median Sold Price Compared To Nearby Cities
| East Weymouth | $455K | $579.9K | +27.5% |
| Weymouth Town | $518.9K | $575K | +10.8% |
| South Weymouth | $530K | $585K | +10.4% |
| Weymouth | $540.5K | $590K | +9.2% |
| Braintree Town | $623.5K | $655.6K | +5.2% |
Housing Supply in South Weymouth, MA
How many homes are available in South Weymouth, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 77 | +48.1% |
Summary: The South Weymouth real estate market had 77 homes for sale in May 2024, a 48.1% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 5 | 10 | +100.0% |
| 2 Bedrooms | 14 | 16 | +14.3% |
| 3 Bedrooms | 21 | 31 | +47.6% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 3 | 7 | +133.3% |
Summary: The South Weymouth 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 14.3%, 3 bedroom homes increased by 47.6%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 133.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 10 | -33.3% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in South Weymouth, you could pay more than the asking price. 80% of homes here sold above asking price last month.
Summary: A total of 10 homes were sold or pending in South Weymouth in May 2024, down by 33.3% month-over-month. Of the 10 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.
Days on Market for South Weymouth, MA
How long does it take to sell a home in South Weymouth, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 19 Days | -23.7% |
Summary: Homes in South Weymouth had an average of 19 days on market in May 2024, down by 23.7% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in South Weymouth are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 10 homes were sold in South Weymouth; 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.
