Is Wellesley Hills, 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, Wellesley Hills has remained a Seller's Market.
Housing Prices in Wellesley Hills, MA
How much do homes in Wellesley Hills, MA cost?
Median Sold Price
$2,213,500
$616/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Summary: The median home sold price in Wellesley Hills was $2,213,500 in May 2024, up 10.7% from last year, and the median price per square foot was $616.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
---|---|---|---|
1 Bedroom | - | $750K | N/A |
2 Bedrooms | $1.1M | $975.5K | -17.0% |
3 Bedrooms | $1.2M | $1.5M | +24.9% |
4 Bedrooms | $1.9M | $1.9M | 0.4% |
5+ Bedrooms | $2.7M | $3.0M | +8.1% |
Summary: Wellesley Hills 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 17%, 3 bedroom homes increased by 24.9%, 4 bedroom homes increased by 0.4%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
Wellesley Hills | $2.0M | $2.2M | +10.7% |
Weston | $2.0M | $2.2M | +10.4% |
Newton | $1.3M | $1.4M | +8.4% |
Needham Heights | $1.3M | $1.4M | +7.9% |
Wellesley | $1.8M | $1.9M | +7.5% |
Housing Supply in Wellesley Hills, MA
How many homes are available in Wellesley Hills, MA?
Number of Homes For Sale
Apr 2024 | May 2024 | CHANGE |
---|---|---|
57 | 65 | +14.0% |
Summary: The Wellesley Hills real estate market had 65 homes for sale in May 2024, a 14.0% increase 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 | 1 | 0.0% |
3 Bedrooms | 10 | 10 | 0.0% |
4 Bedrooms | 15 | 20 | +33.3% |
5+ Bedrooms | 31 | 34 | +9.7% |
Summary: The Wellesley Hills 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 remained the same, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 9.7%.
Number of Homes Sold
Apr 2024 | May 2024 | CHANGE |
---|---|---|
14 | 12 | -14.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Wellesley Hills in May 2024, down by 14.3% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for Wellesley Hills, MA
How long does it take to sell a home in Wellesley Hills, MA?
Average Sale Time
May 2023 | May 2024 | CHANGE |
---|---|---|
12 Days | 16 Days | +29.6% |
Summary: Homes in Wellesley Hills had an average of 16 days on market in May 2024, up by 29.6% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Summary: During May 2024, 12 homes were sold in Wellesley Hills; 92% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.