Is Florence, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Florence is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Florence has remained a Seller's Market.

Key Takeaway

Florence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Florence, MA

How much do homes in Florence, MA cost?

Median Sold Price

$451,500

$326/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$63,500(+16.4%)

Key Takeaway

Homes in Florence have sold for 16.4% more than they did a year ago.

Summary: The median home sold price in Florence was $451,500 in September 2024, up 16.4% from last year, and the median price per square foot was $326.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $189K$150K
-20.6%
2 $336.4K$340K
+1.1%
3 $360.7K$420K
+16.4%
4 $524.2K$667.5K
+27.3%
5+ $809K$685K
-15.3%

Summary: Florence housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 20.6%, 2 bedroom homes increased by 1.1%, 3 bedroom homes increased by 16.4%, 4 bedroom homes increased by 27.3%, and 5+ bedroom homes decreased by 15.3%.

Median Sold Price Compared To Nearby Cities

Florence
+16.4%
Northampton
+11.1%
Easthampton
+5.3%
Easthampton Town
+4.4%

Housing Supply in Florence, MA

How many homes are available in Florence, MA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
3634-5.6%

Summary: The Florence real estate market had 34 homes for sale in September 2024, a 5.6% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 10
-100.0%
2 66
0.0%
3 1215
+25.0%
4 1310
-23.1%
5+ 43
-25.0%

Summary: The Florence housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 25%, 4 bedroom homes decreased by 23.1%, and 5+ bedroom homes decreased by 25%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
1611-31.3%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

3 Homes Were Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Florence, you may be able to get a good deal. 45.5% of homes here sold below asking price last month.

Summary: A total of 11 homes were sold or pending in Florence in September 2024, down by 31.3% month-over-month. Of the 11 sold homes, 45% were sold under asking, 27% were sold at asking, and 27% were sold over asking.

Days on Market for Florence, MA

How long does it take to sell a home in Florence, MA?

Average Sale Time

Sep 2023Sep 2024CHANGE
37 Days44 Days+18.5%

Summary: Homes in Florence had an average of 44 days on market in Sep 2024, up by 18.5% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Florence are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 11 homes were sold in Florence; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

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