Is New Bedford, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing New Bedford is a seller's market

Buyer's
Market

Difference Since February 2023

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

Key Takeaway

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

Housing Prices in New Bedford, MA

How much do homes in New Bedford, MA cost?

Median Sold Price

$402,000

$230/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$28,885(+7.7%)

Key Takeaway

Homes in New Bedford have sold for 7.7% more than they did a year ago.

Summary: The median home sold price in New Bedford was $402,000 in February 2024, up 7.7% from last year, and the median price per square foot was $230.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $288.7K$326.4K
+13.1%
2 $300K$320K
+6.7%
3 $365K$380K
+4.1%
4 $355K$390K
+9.9%
5+ $450K$484K
+7.6%

Summary: New Bedford housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 13.1%, 2 bedroom homes increased by 6.7%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 9.9%, and 5+ bedroom homes increased by 7.6%.

Median Sold Price Compared To Nearby Cities

Acushnet
+8.2%
New Bedford
+7.7%
Fairhaven
+6.6%
Dartmouth
+4.1%
North Dartmouth
-2.0%

Housing Supply in New Bedford, MA

How many homes are available in New Bedford, MA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
135121-10.4%

Summary: The New Bedford real estate market had 121 homes for sale in February 2024, a 10.4% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 10
-100.0%
2 1814
-22.2%
3 5750
-12.3%
4 1820
+11.1%
5+ 4137
-9.8%

Summary: The New Bedford housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 22.2%, 3 bedroom homes decreased by 12.3%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes decreased by 9.8%.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
4032-20.0%

Asking Price vs. Sold Price

13 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

17 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in New Bedford, you could pay more than the asking price. 53.1% of homes here sold above asking price last month.

Summary: A total of 32 homes were sold or pending in New Bedford in February 2024, down by 20.0% month-over-month. Of the 32 sold homes, 41% were sold under asking, 6% were sold at asking, and 53% were sold over asking.

Days on Market for New Bedford, MA

How long does it take to sell a home in New Bedford, MA?

Average Sale Time

Feb 2023Feb 2024CHANGE
51 Days45 Days-11.6%

Summary: Homes in New Bedford had an average of 45 days on market in Feb 2024, down by 11.6% compared to last year.

Breakdown of Home Sale Times

19 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

7 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During February 2024, 32 homes were sold in New Bedford; 59% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 22% 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 28 Days Ago

Newest Listings in New Bedford, MA

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