Is Needham, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
Since last year, Needham has remained a Seller's Market.
Housing Prices in Needham, MA
How much do homes in Needham, MA cost?
Median Sold Price
$1,556,250
$498/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Summary: The median home sold price in Needham was $1,556,250 in June 2024, up 19.7% from last year, and the median price per square foot was $498.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $355K | $377.5K | +6.3% |
2 Bedrooms | $705K | $595.5K | -15.5% |
3 Bedrooms | $1.0M | $1.1M | +8.6% |
4 Bedrooms | $1.4M | $1.5M | +6.9% |
5+ Bedrooms | $2.3M | $2.5M | +4.3% |
Summary: Needham housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes decreased by 15.5%, 3 bedroom homes increased by 8.6%, 4 bedroom homes increased by 6.9%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
Wellesley Hills | $1.8M | $2.3M | +22.7% |
Needham | $1.3M | $1.5M | +19.7% |
Wellesley | $1.7M | $2.0M | +14.3% |
Needham Heights | $1.2M | $1.4M | +8.3% |
Dover | $1.7M | $1.5M | -10.0% |
Housing Supply in Needham, MA
How many homes are available in Needham, MA?
Number of Homes For Sale
May 2024 | Jun 2024 | CHANGE |
---|---|---|
126 | 112 | -11.1% |
Summary: The Needham real estate market had 112 homes for sale in June 2024, a 11.1% decrease compared to May 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 3 | 4 | +33.3% |
2 Bedrooms | 7 | 5 | -28.6% |
3 Bedrooms | 20 | 22 | +10.0% |
4 Bedrooms | 40 | 32 | -20.0% |
5+ Bedrooms | 56 | 49 | -12.5% |
Summary: The Needham housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 28.6%, 3 bedroom homes increased by 10%, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
May 2024 | Jun 2024 | CHANGE |
---|---|---|
34 | 32 | -5.9% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
20 Homes Were Sold
Over Asking
Summary: A total of 32 homes were sold or pending in Needham in June 2024, down by 5.9% month-over-month. Of the 32 sold homes, 34% were sold under asking, 3% were sold at asking, and 63% were sold over asking.
Days on Market for Needham, MA
How long does it take to sell a home in Needham, MA?
Average Sale Time
Jun 2023 | Jun 2024 | CHANGE |
---|---|---|
20 Days | 27 Days | +28.9% |
Summary: Homes in Needham had an average of 27 days on market in Jun 2024, up by 28.9% compared to last year.
Breakdown of Home Sale Times
26 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Summary: During June 2024, 32 homes were sold in Needham; 81% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.