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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Needham is a seller's market

Buyer's
Market

Difference Since July 2021

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

Key Takeaway

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

How much do homes in Needham, MA cost?

Median Sold Price

$1,350,000

$488/sqft

Based on all homes sold in the last 12 months.

Difference Since July 2021

+$150,000(+12.5%)

Key Takeaway

Homes in Needham have sold for 12.5% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSJul 2021Jul 2022%
1 $360.5K$368K
+2.1%
2 $467.5K$655K
+40.1%
3 $918.2K$1.0M
+11.6%
4 $1.2M$1.4M
+20.8%
5+ $1.8M$2.1M
+19.0%

Median Sold Price Compared To Nearby Cities

Wellesley Hills
+20.4%
Wellesley
+13.9%
Dover
+13.5%
Needham
+12.5%
Needham Heights
+9.2%

How many homes are available in Needham, MA?

Number of Homes For Sale

Jun 2022Jul 2022%
163114-30.1%

Homes For Sale By Bedroom Count

# BEDSJun 2022Jul 2022%
1 34
+33.3%
2 118
-27.3%
3 3323
-30.3%
4 5835
-39.7%
5+ 5844
-24.1%

Number of Homes Sold

Jun 2022Jul 2022%
5032-36.0%

Asking Price vs. Sold Price

10 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

22 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Needham, you could pay more than the asking price. 68.8% of homes here sold above asking price last month.

Average Sale Time

Jul 2021Jul 2022%
20 Days20 Days-3.9%

Breakdown of Home Sale Times

26 Homes Were Sold
Under 30 Days

5 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

About Needham, MA

Homes for sale in Needham, MA have reached 114. The number of listings in Needham, MA decreased by 30.1% between June 2022 and July 2022. The median list price of listings available in July 2022 was $1,350,000, while the average time on the real estate market was 20 days. From June 2022 through July 2022, the following changes in listing prices were observed in this housing market: 1 bedroom properties became 2.1% more expensive, 2 bedrooms properties prices increased by 40.1%, prices of 3 bedrooms properties went up by 11.6%, prices of 4 bedrooms properties increased by 20.8%, 5 bedrooms properties prices increased by 19%. Volume of homes for sale in this real estate market have seen the following changes: volume of 1 bedroom homes went up by 33.3%, volume of 2 bedrooms homes went down by 27.3%, 3 bedrooms homes became 30.3% less available, number of 4 bedrooms homes decreased by 39.7%, the quantity of 5 bedrooms homes went down by 24.1%. In July 2022 more than 22 listings in Needham, MA were sold above the asking price. During the same period more than 0 listings were sold at asking price, while more than 10 were sold below.

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