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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Wakefield is a seller's market

Buyer's
Market

Difference Since June 2023

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

Key Takeaway

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

Housing Prices in Wakefield, MA

How much do homes in Wakefield, MA cost?

Median Sold Price

$726,333

$431/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$41,683(+6.1%)

Key Takeaway

Homes in Wakefield have sold for 6.1% more than they did a year ago.

Summary: The median home sold price in Wakefield was $726,333 in June 2024, up 6.1% from last year, and the median price per square foot was $431.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $420K$361K
-14.0%
2 $525K$606.2K
+15.5%
3 $710K$742.5K
+4.6%
4 $789.9K$877.5K
+11.1%
5+ $840K$910K
+8.3%

Summary: Wakefield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 14%, 2 bedroom homes increased by 15.5%, 3 bedroom homes increased by 4.6%, 4 bedroom homes increased by 11.1%, and 5+ bedroom homes increased by 8.3%.

Median Sold Price Compared To Nearby Cities

Lynnfield
+15.9%
Stoneham
+11.6%
Melrose
+11.1%
Wakefield
+6.1%
Reading
+1.9%

Housing Supply in Wakefield, MA

How many homes are available in Wakefield, MA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
7379+8.2%

Summary: The Wakefield real estate market had 79 homes for sale in June 2024, a 8.2% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 73
-57.1%
2 89
+12.5%
3 2931
+6.9%
4 2330
+30.4%
5+ 66
0.0%

Summary: The Wakefield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 57.1%, 2 bedroom homes increased by 12.5%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 30.4%, and 5+ bedroom homes remained the same.

Number of Homes Sold

May 2024Jun 2024CHANGE
1828+55.6%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

1 Home Was Sold
At Asking

26 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Wakefield, you could pay more than the asking price. 92.9% of homes here sold above asking price last month.

Summary: A total of 28 homes were sold or pending in Wakefield in June 2024, up by 55.6% month-over-month. Of the 28 sold homes, 4% were sold under asking, 4% were sold at asking, and 93% were sold over asking.

Days on Market for Wakefield, MA

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

Average Sale Time

Jun 2023Jun 2024CHANGE
14 Days10 Days-31.4%

Summary: Homes in Wakefield had an average of 10 days on market in Jun 2024, down by 31.4% compared to last year.

Breakdown of Home Sale Times

28 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During June 2024, 28 homes were sold in Wakefield; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% 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 20 Days Ago

Newest Listings in Wakefield, MA

Nearby Markets to Wakefield, MA

What housing markets are near Wakefield, MA?