Is Wellesley Hills, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Wellesley Hills was a Neutral Market.
Key Takeaway
Wellesley Hills is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wellesley Hills, MA
How much do homes in Wellesley Hills, MA cost?
Median Sold Price
$2,200,000
$606/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wellesley Hills have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Wellesley Hills was $2,200,000 in March 2024, up 7.3% from last year, and the median price per square foot was $606.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $750K | N/A |
| 2 Bedrooms | $1.1M | $1.0M | -13.8% |
| 3 Bedrooms | $1.3M | $1.2M | -6.5% |
| 4 Bedrooms | $1.9M | $1.9M | +0.6% |
| 5+ Bedrooms | $2.8M | $3.0M | +6.2% |
Summary: Wellesley Hills housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 13.8%, 3 bedroom homes decreased by 6.5%, 4 bedroom homes increased by 0.6%, and 5+ bedroom homes increased by 6.2%.
Median Sold Price Compared To Nearby Cities
| Weston | $2.0M | $2.2M | +10.2% |
| Newton | $1.3M | $1.4M | +9.8% |
| Wellesley Hills | $2.0M | $2.2M | +7.3% |
| Needham Heights | $1.2M | $1.3M | +4.6% |
| Wellesley | $1.8M | $1.8M | +1.4% |
Housing Supply in Wellesley Hills, MA
How many homes are available in Wellesley Hills, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 42 | 44 | +4.8% |
Summary: The Wellesley Hills real estate market had 44 homes for sale in March 2024, a 4.8% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 7 | 8 | +14.3% |
| 4 Bedrooms | 11 | 12 | +9.1% |
| 5+ Bedrooms | 23 | 23 | 0.0% |
Summary: The Wellesley Hills housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 14.3%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 6 | 12 | +100.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
7 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellesley Hills, you could pay more than the asking price. 58.3% of homes here sold above asking price last month.
Summary: A total of 12 homes were sold or pending in Wellesley Hills in March 2024, up by 100.0% month-over-month. Of the 12 sold homes, 25% were sold under asking, 17% were sold at asking, and 58% were sold over asking.
Days on Market for Wellesley Hills, MA
How long does it take to sell a home in Wellesley Hills, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 27 Days | -54.1% |
Summary: Homes in Wellesley Hills had an average of 27 days on market in Mar 2024, down by 54.1% compared to last year.
Breakdown of Home Sale Times
9 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wellesley Hills are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 12 homes were sold in Wellesley Hills; 75% of homes were sold within 30 days, 8% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.
