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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Saugus is a seller's market

Buyer's
Market

Difference Since January 2023

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

Key Takeaway

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

Housing Prices in Saugus, MA

How much do homes in Saugus, MA cost?

Median Sold Price

$600,000

$365/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$6,500(-1.1%)

Key Takeaway

Homes in Saugus have sold for 1.1% less than they did a year ago.

Summary: The median home sold price in Saugus was $600,000 in January 2024, down 1.1% from last year, and the median price per square foot was $365.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $355.5K$302K
-15.0%
2 $499K$485K
-2.8%
3 $600K$610K
+1.7%
4 $680K$670K
-1.5%
5+ $862.5K$815K
-5.5%

Summary: Saugus housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 15%, 2 bedroom homes decreased by 2.8%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 1.5%, and 5+ bedroom homes decreased by 5.5%.

Median Sold Price Compared To Nearby Cities

Lynn
+7.8%
Wakefield
+6.0%
Malden
+5.7%
Saugus
-1.1%
Revere
-2.1%

Housing Supply in Saugus, MA

How many homes are available in Saugus, MA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
4639-15.2%

Summary: The Saugus real estate market had 39 homes for sale in January 2024, a 15.2% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 33
0.0%
2 65
-16.7%
3 2417
-29.2%
4 99
0.0%
5+ 45
+25.0%

Summary: The Saugus housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 16.7%, 3 bedroom homes decreased by 29.2%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 25%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
2414-41.7%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Saugus, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Summary: A total of 14 homes were sold or pending in Saugus in January 2024, down by 41.7% month-over-month. Of the 14 sold homes, 29% were sold under asking, 0% were sold at asking, and 71% were sold over asking.

Days on Market for Saugus, MA

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

Average Sale Time

Jan 2023Jan 2024CHANGE
28 Days30 Days+6.5%

Summary: Homes in Saugus had an average of 30 days on market in Jan 2024, up by 6.5% compared to last year.

Breakdown of Home Sale Times

11 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During January 2024, 14 homes were sold in Saugus; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% 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 25 Days Ago

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