Is Woburn, 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, Woburn has remained a Seller's Market.
Key Takeaway
Woburn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Woburn, MA
How much do homes in Woburn, MA cost?
Median Sold Price
$710,866
$412/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Woburn have sold for 13.7% more than they did a year ago.
Summary: The median home sold price in Woburn was $710,866 in May 2024, up 13.7% 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 | $290K | $343.5K | +18.4% |
| 2 Bedrooms | $507.5K | $580K | +14.3% |
| 3 Bedrooms | $610K | $710K | +16.4% |
| 4 Bedrooms | $760K | $840K | +10.5% |
| 5+ Bedrooms | $800K | $865K | +8.1% |
Summary: Woburn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.4%, 2 bedroom homes increased by 14.3%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
| Woburn | $625K | $710.8K | +13.7% |
| Burlington | $741K | $816.6K | +10.2% |
| Stoneham | $650K | $714.2K | +9.9% |
| Winchester | $1.3M | $1.3M | +6.0% |
| Reading | $775K | $777.5K | 0.3% |
Housing Supply in Woburn, MA
How many homes are available in Woburn, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 83 | 90 | +8.4% |
Summary: The Woburn real estate market had 90 homes for sale in May 2024, a 8.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 17 | 10 | -41.2% |
| 3 Bedrooms | 37 | 39 | +5.4% |
| 4 Bedrooms | 14 | 25 | +78.6% |
| 5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Woburn 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 decreased by 41.2%, 3 bedroom homes increased by 5.4%, 4 bedroom homes increased by 78.6%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 28 | 38 | +35.7% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Woburn, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.
Summary: A total of 38 homes were sold or pending in Woburn in May 2024, up by 35.7% month-over-month. Of the 38 sold homes, 32% were sold under asking, 5% were sold at asking, and 63% were sold over asking.
Days on Market for Woburn, MA
How long does it take to sell a home in Woburn, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 29 Days | 21 Days | -26.5% |
Summary: Homes in Woburn had an average of 21 days on market in May 2024, down by 26.5% compared to last year.
Breakdown of Home Sale Times
32 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Woburn are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 38 homes were sold in Woburn; 84% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
