Is Wellesley, 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, Wellesley has remained a Seller's Market.
Key Takeaway
Wellesley is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wellesley, MA
How much do homes in Wellesley, MA cost?
Median Sold Price
$2,008,500
$641/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Wellesley have sold for 14.3% more than they did a year ago.
Summary: The median home sold price in Wellesley was $2,008,500 in June 2024, up 14.3% from last year, and the median price per square foot was $641.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $750K | $716K | -4.5% |
| 2 Bedrooms | $975K | $1.3M | +33.3% |
| 3 Bedrooms | $1.2M | $1.4M | +16.9% |
| 4 Bedrooms | $1.8M | $1.9M | +7.8% |
| 5+ Bedrooms | $2.7M | $2.9M | +8.8% |
Summary: Wellesley housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 4.5%, 2 bedroom homes increased by 33.3%, 3 bedroom homes increased by 16.9%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 8.8%.
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% |
| Weston | $2.1M | $2.3M | +8.6% |
| Needham Heights | $1.2M | $1.4M | +8.3% |
Housing Supply in Wellesley, MA
How many homes are available in Wellesley, MA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 139 | 124 | -10.8% |
Summary: The Wellesley real estate market had 124 homes for sale in June 2024, a 10.8% decrease compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 15 | 11 | -26.7% |
| 3 Bedrooms | 24 | 20 | -16.7% |
| 4 Bedrooms | 45 | 44 | -2.2% |
| 5+ Bedrooms | 54 | 48 | -11.1% |
Summary: The Wellesley housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 16.7%, 4 bedroom homes decreased by 2.2%, and 5+ bedroom homes decreased by 11.1%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 29 | 43 | +48.3% |
Asking Price vs. Sold Price
19 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellesley, you could pay more than the asking price. 48.8% of homes here sold above asking price last month.
Summary: A total of 43 homes were sold or pending in Wellesley in June 2024, up by 48.3% month-over-month. Of the 43 sold homes, 44% were sold under asking, 7% were sold at asking, and 49% were sold over asking.
Days on Market for Wellesley, MA
How long does it take to sell a home in Wellesley, MA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 22 Days | 20 Days | -10.4% |
Summary: Homes in Wellesley had an average of 20 days on market in Jun 2024, down by 10.4% compared to last year.
Breakdown of Home Sale Times
35 Homes Were Sold
Under 30 Days
8 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wellesley are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 43 homes were sold in Wellesley; 81% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
