Is Florence, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Florence has remained a Seller's Market.
Key Takeaway
Florence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Florence, MA
How much do homes in Florence, MA cost?
Median Sold Price
$432,500
$303/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Florence have sold for 14.6% more than they did a year ago.
Summary: The median home sold price in Florence was $432,500 in May 2024, up 14.6% from last year, and the median price per square foot was $303.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $155K | $194K | +25.2% |
| 2 Bedrooms | $315.5K | $351K | +11.3% |
| 3 Bedrooms | $360.7K | $390K | +8.1% |
| 4 Bedrooms | $578.7K | $595.6K | +2.9% |
| 5+ Bedrooms | $1.1M | $736K | -33.1% |
Summary: Florence housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 25.2%, 2 bedroom homes increased by 11.3%, 3 bedroom homes increased by 8.1%, 4 bedroom homes increased by 2.9%, and 5+ bedroom homes decreased by 33.1%.
Median Sold Price Compared To Nearby Cities
| Florence | $377.5K | $432.5K | +14.6% |
| Northampton | $411K | $443.7K | +8.0% |
| Easthampton Town | $380.7K | $393.2K | +3.3% |
| Easthampton | $386.8K | $398K | +2.9% |
| Leeds | $485.7K | $445K | -8.4% |
Housing Supply in Florence, MA
How many homes are available in Florence, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 15 | 0.0% |
Summary: The Florence real estate market had 15 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 8 | 5 | -37.5% |
| 4 Bedrooms | 6 | 9 | +50.0% |
| 5+ Bedrooms | 1 | 1 | 0.0% |
Summary: The Florence housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 37.5%, 4 bedroom homes increased by 50%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 4 | 0.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Florence, you could pay more than the asking price. 50% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Florence in May 2024, the same as the previous month. Of the 4 sold homes, 25% were sold under asking, 25% were sold at asking, and 50% were sold over asking.
Days on Market for Florence, MA
How long does it take to sell a home in Florence, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 48 Days | 22 Days | -53.2% |
Summary: Homes in Florence had an average of 22 days on market in May 2024, down by 53.2% compared to last year.
Breakdown of Home Sale Times
3 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Florence are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Florence; 75% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
