$10,000 Closing Credit*
$874,900
2,671 SqFt
4 Beds
•2 Full Baths, 1 Partial
#73304280, Robert Simone, Listing Office: Better Living Real Estate, LLC
Is Medway, 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, Medway has remained a Seller's Market.
Key Takeaway
Medway is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Medway, MA
How much do homes in Medway, MA cost?
Median Sold Price
$700,000
$322/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$80,000(+12.9%)
Key Takeaway
Homes in Medway have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Medway was $700,000 in September 2024, up 12.9% from last year, and the median price per square foot was $322.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $275K | $280K | +1.8% |
| 2 Bedrooms | $395K | $400K | +1.3% |
| 3 Bedrooms | $551K | $657.5K | +19.3% |
| 4 Bedrooms | $668K | $867.2K | +29.8% |
| 5+ Bedrooms | $910K | $743.5K | -18.3% |
Summary: Medway housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 19.3%, 4 bedroom homes increased by 29.8%, and 5+ bedroom homes decreased by 18.3%.
Median Sold Price Compared To Nearby Cities
| Franklin Town | $594.1K | $671.6K | +13.0% |
| Franklin | $594.1K | $671.6K | +13.0% |
| Medway | $620K | $700K | +12.9% |
| Norfolk | $715K | $789.9K | +10.5% |
| Holliston | $677K | $700K | +3.4% |
Housing Supply in Medway, MA
How many homes are available in Medway, MA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 37 | 35 | -5.4% |
Summary: The Medway real estate market had 35 homes for sale in September 2024, a 5.4% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 4 | 6 | +50.0% |
| 3 Bedrooms | 15 | 18 | +20.0% |
| 4 Bedrooms | 14 | 8 | -42.9% |
| 5+ Bedrooms | 3 | 3 | 0.0% |
Summary: The Medway 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 increased by 50%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 42.9%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Medway, you could pay more than the asking price. 42.9% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Medway in September 2024, up by 16.7% month-over-month. Of the 14 sold homes, 29% were sold under asking, 29% were sold at asking, and 43% were sold over asking.
Days on Market for Medway, MA
How long does it take to sell a home in Medway, MA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 19 Days | 31 Days | +61.9% |
Summary: Homes in Medway had an average of 31 days on market in Sep 2024, up by 61.9% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Medway are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 14 homes were sold in Medway; 57% of homes were sold within 30 days, 43% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
