Is Medford, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Medford has remained a Seller's Market.
Housing Prices in Medford, MA
How much do homes in Medford, MA cost?
Median Sold Price
$800,500
$482/sqft
Based on all homes sold in the last 12 months.
Difference Since February 2023
Summary: The median home sold price in Medford was $800,500 in February 2024, up 3.6% from last year, and the median price per square foot was $482.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $569.9K | $606.9K | +6.5% |
2 Bedrooms | $580.4K | $628K | +8.2% |
3 Bedrooms | $770K | $780K | +1.3% |
4 Bedrooms | $879.9K | $980K | +11.4% |
5+ Bedrooms | $1.0M | $1.0M | -2.4% |
Summary: Medford housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.5%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 1.3%, 4 bedroom homes increased by 11.4%, and 5+ bedroom homes decreased by 2.4%.
Median Sold Price Compared To Nearby Cities
Malden | $619.6K | $655.5K | +5.8% |
Everett | $635K | $670K | +5.5% |
Somerville | $948.8K | $999.7K | +5.4% |
Winchester | $1.3M | $1.3M | +3.9% |
Medford | $772.5K | $800.5K | +3.6% |
Housing Supply in Medford, MA
How many homes are available in Medford, MA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
90 | 91 | +1.1% |
Summary: The Medford real estate market had 91 homes for sale in February 2024, a 1.1% increase compared to January 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 7 | 8 | +14.3% |
2 Bedrooms | 27 | 33 | +22.2% |
3 Bedrooms | 24 | 24 | 0.0% |
4 Bedrooms | 21 | 14 | -33.3% |
5+ Bedrooms | 11 | 12 | +9.1% |
Summary: The Medford housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 14.3%, 2 bedroom homes increased by 22.2%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 9.1%.
Number of Homes Sold
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
35 | 20 | -42.9% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 20 homes were sold or pending in Medford in February 2024, down by 42.9% month-over-month. Of the 20 sold homes, 50% were sold under asking, 10% were sold at asking, and 40% 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
Feb 2023 | Feb 2024 | CHANGE |
---|---|---|
42 Days | 38 Days | -9.5% |
Summary: Homes in Medford had an average of 38 days on market in Feb 2024, down by 9.5% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
9 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During February 2024, 20 homes were sold in Medford; 45% of homes were sold within 30 days, 45% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.