Is Union Square / Prospect, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
At the same time last year, Union Square / Prospect was a Seller's Market.
Key Takeaway
Union Square / Prospect is a Buyers Housing Market, which means prices tend to be lower and homes stay on the market longer.
Housing Prices in Union Square / Prospect, MA
How much do homes in Union Square / Prospect, MA cost?
Median Sold Price
$890,000
$696/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Union Square / Prospect have sold for 21.6% less than they did a year ago.
Summary: The median home sold price in Union Square / Prospect was $890,000 in April 2024, down 21.6% from last year, and the median price per square foot was $696.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $496K | $502.2K | +1.3% |
| 2 Bedrooms | $672.5K | $815K | +21.2% |
| 3 Bedrooms | $1.0M | $1.1M | +9.9% |
| 4 Bedrooms | $1.2M | $1.4M | +14.3% |
| 5+ Bedrooms | $1.6M | $1.5M | -6.8% |
Summary: Union Square / Prospect housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 1.3%, 2 bedroom homes increased by 21.2%, 3 bedroom homes increased by 9.9%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes decreased by 6.8%.
Median Sold Price Compared To Nearby Neighborhoods
| Central Hill | $757.5K | $1.1M | +50.5% |
| East Somerville | $782.5K | $857.5K | +9.6% |
| Cobble Hill / Ward 2 | $1.0M | $930K | -12.7% |
| Union Square / Prospect | $1.1M | $890K | -21.6% |
Housing Supply in Union Square / Prospect, MA
How many homes are available in Union Square / Prospect, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 20 | 0.0% |
Summary: The Union Square / Prospect real estate market had 20 homes for sale in April 2024, the same as March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 3 | 4 | +33.3% |
| 3 Bedrooms | 7 | 3 | -57.1% |
| 4 Bedrooms | 3 | 2 | -33.3% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Union Square / Prospect housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes increased by 33.3%, 3 bedroom homes decreased by 57.1%, 4 bedroom homes decreased by 33.3%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 2 | -60.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
1 Home Was Sold
Over Asking
Key Takeaway
If you're buying a home in Union Square / Prospect, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 2 homes were sold or pending in Union Square / Prospect in April 2024, down by 60.0% month-over-month. Of the 2 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Union Square / Prospect, MA
How long does it take to sell a home in Union Square / Prospect, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 83 Days | 74 Days | -10.8% |
Summary: Homes in Union Square / Prospect had an average of 74 days on market in Apr 2024, down by 10.8% compared to last year.
Breakdown of Home Sale Times
1 Home Was Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Union Square / Prospect are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 2 homes were sold in Union Square / Prospect; 50% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 50% of homes were sold over 90 days.
