Is Dorchester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Dorchester has remained a Seller's Market.
Key Takeaway
Dorchester is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dorchester, MA
How much do homes in Dorchester, MA cost?
Median Sold Price
$707,500
$460/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Dorchester have sold for 2.4% more than they did a year ago.
Summary: The median home sold price in Dorchester was $707,500 in April 2024, up 2.4% from last year, and the median price per square foot was $460.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $367.5K | $389K | +5.9% |
| 2 Bedrooms | $550K | $594K | +8.0% |
| 3 Bedrooms | $637.5K | $650K | +2.0% |
| 4 Bedrooms | $759K | $800K | +5.4% |
| 5+ Bedrooms | $983.5K | $1.0M | +1.7% |
Summary: Dorchester housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes increased by 8%, 3 bedroom homes increased by 2%, 4 bedroom homes increased by 5.4%, and 5+ bedroom homes increased by 1.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Meeting House Hill | $578.2K | $682K | +18.0% |
| Neponset | $637.5K | $690K | +8.2% |
| Dorchester | $691.2K | $707.5K | +2.4% |
Housing Supply in Dorchester, MA
How many homes are available in Dorchester, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 146 | 183 | +25.3% |
Summary: The Dorchester real estate market had 183 homes for sale in April 2024, a 25.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 8 | 11 | +37.5% |
| 2 Bedrooms | 34 | 54 | +58.8% |
| 3 Bedrooms | 43 | 45 | +4.7% |
| 4 Bedrooms | 15 | 20 | +33.3% |
| 5+ Bedrooms | 46 | 53 | +15.2% |
Summary: The Dorchester housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 37.5%, 2 bedroom homes increased by 58.8%, 3 bedroom homes increased by 4.7%, 4 bedroom homes increased by 33.3%, and 5+ bedroom homes increased by 15.2%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 40 | 45 | +12.5% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
9 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dorchester, you may be able to get a good deal. 40% of homes here sold below asking price last month.
Summary: A total of 45 homes were sold or pending in Dorchester in April 2024, up by 12.5% month-over-month. Of the 45 sold homes, 40% were sold under asking, 20% were sold at asking, and 40% were sold over asking.
Days on Market for Dorchester, MA
How long does it take to sell a home in Dorchester, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 44 Days | 45 Days | +2.2% |
Summary: Homes in Dorchester had an average of 45 days on market in Apr 2024, up by 2.2% compared to last year.
Breakdown of Home Sale Times
29 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
8 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Dorchester are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 45 homes were sold in Dorchester; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
