Is Florence, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 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
$415,900
$280/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Florence have sold for 9.4% more than they did a year ago.
Summary: The median home sold price in Florence was $415,900 in March 2024, up 9.4% from last year, and the median price per square foot was $280.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $194K | +25.2% |
| 2 Bedrooms | $315.5K | $350K | +10.9% |
| 3 Bedrooms | $355.9K | $390K | +9.6% |
| 4 Bedrooms | $581K | $550K | -5.3% |
| 5+ Bedrooms | $1.1M | $736K | -33.1% |
Summary: Florence housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.2%, 2 bedroom homes increased by 10.9%, 3 bedroom homes increased by 9.6%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes decreased by 33.1%.
Median Sold Price Compared To Nearby Cities
| Florence | $380K | $415.9K | +9.4% |
| Northampton | $420K | $427.5K | +1.8% |
| Easthampton | $390K | $396K | +1.5% |
| Easthampton Town | $385K | $389.5K | +1.2% |
Housing Supply in Florence, MA
How many homes are available in Florence, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 16 | -15.8% |
Summary: The Florence real estate market had 16 homes for sale in March 2024, a 15.8% decrease compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 0 | -100.0% |
| 3 Bedrooms | 8 | 9 | +12.5% |
| 4 Bedrooms | 7 | 6 | -14.3% |
| 5+ Bedrooms | 3 | 1 | -66.7% |
Summary: The Florence housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 12.5%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes decreased by 66.7%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 5 | 5 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Florence, you could pay more than the asking price. 60% of homes here sold above asking price last month.
Summary: A total of 5 homes were sold or pending in Florence in March 2024, the same as the previous month. Of the 5 sold homes, 20% were sold under asking, 20% were sold at asking, and 60% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 22 Days | 57 Days | +153.1% |
Summary: Homes in Florence had an average of 57 days on market in Mar 2024, up by 153.1% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Florence are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 5 homes were sold in Florence; 40% of homes were sold within 30 days, 40% of homes were sold within 30 to 90 days, and 20% of homes were sold over 90 days.
