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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Medway is a seller's market

Buyer's
Market

Difference Since June 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

$702,500

$315/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$116,000(+19.8%)

Key Takeaway

Homes in Medway have sold for 19.8% more than they did a year ago.

Summary: The median home sold price in Medway was $702,500 in June 2024, up 19.8% from last year, and the median price per square foot was $315.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $275K$280K
+1.8%
2 $400K$390K
-2.5%
3 $530K$655K
+23.6%
4 $700K$810K
+15.7%
5+ $689.9K$977.5K
+41.7%

Summary: Medway housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.8%, 2 bedroom homes decreased by 2.5%, 3 bedroom homes increased by 23.6%, 4 bedroom homes increased by 15.7%, and 5+ bedroom homes increased by 41.7%.

Median Sold Price Compared To Nearby Cities

Medway
+19.8%
Franklin
+14.3%
Franklin Town
+14.2%
Norfolk
+9.3%
Holliston
+7.7%

Housing Supply in Medway, MA

How many homes are available in Medway, MA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
4547+4.4%

Summary: The Medway real estate market had 47 homes for sale in June 2024, a 4.4% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 10
-100.0%
2 66
0.0%
3 1816
-11.1%
4 1621
+31.3%
5+ 44
0.0%

Summary: The Medway housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 11.1%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
1514-6.7%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

13 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Medway, you could pay more than the asking price. 92.9% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Medway in June 2024, down by 6.7% month-over-month. Of the 14 sold homes, 7% were sold under asking, 0% were sold at asking, and 93% 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

Jun 2023Jun 2024CHANGE
21 Days13 Days-37.9%

Summary: Homes in Medway had an average of 13 days on market in Jun 2024, down by 37.9% compared to last year.

Breakdown of Home Sale Times

13 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 14 homes were sold in Medway; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% 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 21 Days Ago

Newest Listings in Medway, MA

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