Is Wenham, 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, Wenham has remained a Seller's Market.
Key Takeaway
Wenham is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wenham, MA
How much do homes in Wenham, MA cost?
Median Sold Price
$1,197,500
$412/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wenham have sold for 33.1% more than they did a year ago.
Summary: The median home sold price in Wenham was $1,197,500 in May 2024, up 33.1% from last year, and the median price per square foot was $412.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $251.3K | $325K | +29.3% |
| 2 Bedrooms | $1.2M | $700K | -41.7% |
| 3 Bedrooms | $730K | $855K | +17.1% |
| 4 Bedrooms | $1.0M | $1.2M | +13.9% |
| 5+ Bedrooms | $1.4M | $1.5M | +12.3% |
Summary: Wenham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 29.3%, 2 bedroom homes decreased by 41.7%, 3 bedroom homes increased by 17.1%, 4 bedroom homes increased by 13.9%, and 5+ bedroom homes increased by 12.3%.
Median Sold Price Compared To Nearby Cities
| Wenham | $900K | $1.1M | +33.1% |
| South Hamilton | $715K | $870K | +21.7% |
| Hamilton | $719K | $872.5K | +21.3% |
| Topsfield | $755K | $872.5K | +15.6% |
| Beverly | $621.6K | $675.6K | +8.7% |
Housing Supply in Wenham, MA
How many homes are available in Wenham, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 18 | -10.0% |
Summary: The Wenham real estate market had 18 homes for sale in May 2024, a 10.0% 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 | 0 | 0 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 7 | 7 | 0.0% |
| 5+ Bedrooms | 9 | 6 | -33.3% |
Summary: The Wenham 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 25%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 33.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wenham, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Wenham in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 33% were sold at asking, and 50% were sold over asking.
Days on Market for Wenham, MA
How long does it take to sell a home in Wenham, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 60 Days | +194.9% |
Summary: Homes in Wenham had an average of 60 days on market in May 2024, up by 194.9% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Wenham are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Wenham; 67% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
