Is Wellesley, 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 was a Neutral 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
$1,875,000
$620/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Wellesley have sold for 1.4% more than they did a year ago.
Summary: The median home sold price in Wellesley was $1,875,000 in March 2024, up 1.4% from last year, and the median price per square foot was $620.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | $712.5K | N/A |
| 2 Bedrooms | $870K | $1.0M | +20.8% |
| 3 Bedrooms | $1.2M | $1.3M | +3.1% |
| 4 Bedrooms | $1.8M | $1.9M | +3.8% |
| 5+ Bedrooms | $2.6M | $2.9M | +9.3% |
Summary: Wellesley 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 increased by 20.8%, 3 bedroom homes increased by 3.1%, 4 bedroom homes increased by 3.8%, and 5+ bedroom homes increased by 9.3%.
Median Sold Price Compared To Nearby Cities
| Weston | $2.0M | $2.2M | +10.2% |
| Wellesley Hills | $2.0M | $2.2M | +7.3% |
| Needham | $1.3M | $1.4M | +6.6% |
| Needham Heights | $1.2M | $1.3M | +4.6% |
| Wellesley | $1.8M | $1.8M | +1.4% |
Housing Supply in Wellesley, MA
How many homes are available in Wellesley, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 93 | 96 | +3.2% |
Summary: The Wellesley real estate market had 96 homes for sale in March 2024, a 3.2% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 3 | -25.0% |
| 2 Bedrooms | 17 | 14 | -17.6% |
| 3 Bedrooms | 19 | 15 | -21.1% |
| 4 Bedrooms | 21 | 26 | +23.8% |
| 5+ Bedrooms | 32 | 38 | +18.8% |
Summary: The Wellesley housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 17.6%, 3 bedroom homes decreased by 21.1%, 4 bedroom homes increased by 23.8%, and 5+ bedroom homes increased by 18.8%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 16 | 21 | +31.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
11 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wellesley, you could pay more than the asking price. 52.4% of homes here sold above asking price last month.
Summary: A total of 21 homes were sold or pending in Wellesley in March 2024, up by 31.3% month-over-month. Of the 21 sold homes, 33% were sold under asking, 14% were sold at asking, and 52% 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 39 Days | 30 Days | -22.8% |
Summary: Homes in Wellesley had an average of 30 days on market in Mar 2024, down by 22.8% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
4 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 March 2024, 21 homes were sold in Wellesley; 76% of homes were sold within 30 days, 5% of homes were sold within 30 to 90 days, and 19% of homes were sold over 90 days.
