$9,500 Closing Credit*
$799,999
1,126 SqFt
2 Beds
•2 Full Baths
#73305342, Francesca Driscoll, Listing Office: Redfin Corp.
Is Medford, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Medford has remained a Seller's Market.
Key Takeaway
Medford is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medford, MA
How much do homes in Medford, MA cost?
Median Sold Price
$850,000
$501/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$100,202(+13.4%)
Key Takeaway
Homes in Medford have sold for 13.4% more than they did a year ago.
Summary: The median home sold price in Medford was $850,000 in September 2024, up 13.4% from last year, and the median price per square foot was $501.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | $529.9K | -11.7% |
| 2 Bedrooms | $600K | $625K | +4.2% |
| 3 Bedrooms | $753K | $838K | +11.3% |
| 4 Bedrooms | $900K | $993.4K | +10.4% |
| 5+ Bedrooms | $1.0M | $1.1M | +11.2% |
Summary: Medford housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.7%, 2 bedroom homes increased by 4.2%, 3 bedroom homes increased by 11.3%, 4 bedroom homes increased by 10.4%, and 5+ bedroom homes increased by 11.2%.
Median Sold Price Compared To Nearby Cities
| Somerville | $952.4K | $1.0M | +15.0% |
| Medford | $749.7K | $850K | +13.4% |
| Malden | $621.6K | $685K | +10.2% |
| Winchester | $1.3M | $1.4M | +7.7% |
| Everett | $640.5K | $637.5K | -0.5% |
Housing Supply in Medford, MA
How many homes are available in Medford, MA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 133 | 164 | +23.3% |
Summary: The Medford real estate market had 164 homes for sale in September 2024, a 23.3% increase compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 7 | +133.3% |
| 2 Bedrooms | 24 | 34 | +41.7% |
| 3 Bedrooms | 55 | 53 | -3.6% |
| 4 Bedrooms | 22 | 34 | +54.5% |
| 5+ Bedrooms | 29 | 36 | +24.1% |
Summary: The Medford housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 133.3%, 2 bedroom homes increased by 41.7%, 3 bedroom homes decreased by 3.6%, 4 bedroom homes increased by 54.5%, and 5+ bedroom homes increased by 24.1%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 41 | 47 | +14.6% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
32 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medford, you could pay more than the asking price. 68.1% of homes here sold above asking price last month.
Summary: A total of 47 homes were sold or pending in Medford in September 2024, up by 14.6% month-over-month. Of the 47 sold homes, 28% were sold under asking, 4% were sold at asking, and 68% were sold over asking.
Days on Market for Medford, MA
How long does it take to sell a home in Medford, MA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 19 Days | 24 Days | +21.6% |
Summary: Homes in Medford had an average of 24 days on market in Sep 2024, up by 21.6% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
11 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Medford are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 47 homes were sold in Medford; 72% of homes were sold within 30 days, 23% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.
