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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Framingham is a seller's market

Buyer's
Market

Difference Since May 2023

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

Key Takeaway

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

Housing Prices in Framingham, MA

How much do homes in Framingham, MA cost?

Median Sold Price

$636,208

$357/sqft

Based on all homes sold in the last 12 months.

Difference Since May 2023

+$40,352(+6.8%)

Key Takeaway

Homes in Framingham have sold for 6.8% more than they did a year ago.

Summary: The median home sold price in Framingham was $636,208 in May 2024, up 6.8% from last year, and the median price per square foot was $357.

Median Sold Price By Bedroom Count

# BEDSMay 2023May 2024CHANGE
1 $225K$240K
+6.7%
2 $389.9K$427.5K
+9.6%
3 $560K$615K
+9.8%
4 $710K$780K
+9.9%
5+ $735.5K$800K
+8.8%

Summary: Framingham housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 9.6%, 3 bedroom homes increased by 9.8%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 8.8%.

Median Sold Price Compared To Nearby Cities

Wayland
+8.0%
Natick
+6.9%
Framingham
+6.8%
Southborough
+4.4%
Sudbury
0.2%

Housing Supply in Framingham, MA

How many homes are available in Framingham, MA?

Number of Homes For Sale

Apr 2024May 2024CHANGE
139154+10.8%

Summary: The Framingham real estate market had 154 homes for sale in May 2024, a 10.8% increase compared to April 2024.

Homes For Sale By Bedroom Count

# BEDSApr 2024May 2024CHANGE
1 74
-42.9%
2 2323
0.0%
3 6571
+9.2%
4 3139
+25.8%
5+ 1317
+30.8%

Summary: The Framingham housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 42.9%, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.2%, 4 bedroom homes increased by 25.8%, and 5+ bedroom homes increased by 30.8%.

Number of Homes Sold

Apr 2024May 2024CHANGE
4150+22.0%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

43 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Framingham, you could pay more than the asking price. 86% of homes here sold above asking price last month.

Summary: A total of 50 homes were sold or pending in Framingham in May 2024, up by 22.0% month-over-month. Of the 50 sold homes, 10% were sold under asking, 4% were sold at asking, and 86% were sold over asking.

Days on Market for Framingham, MA

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

Average Sale Time

May 2023May 2024CHANGE
29 Days22 Days-22.4%

Summary: Homes in Framingham had an average of 22 days on market in May 2024, down by 22.4% compared to last year.

Breakdown of Home Sale Times

43 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

2 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During May 2024, 50 homes were sold in Framingham; 86% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 4% 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 20 Days Ago

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