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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Medford is a seller's market

Buyer's
Market

Difference Since April 2023

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

Key Takeaway

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

Housing Prices in Medford, MA

How much do homes in Medford, MA cost?

Median Sold Price

$826,166

$499/sqft

Based on all homes sold in the last 12 months.

Difference Since April 2023

+$69,900(+9.2%)

Key Takeaway

Homes in Medford have sold for 9.2% more than they did a year ago.

Summary: The median home sold price in Medford was $826,166 in April 2024, up 9.2% from last year, and the median price per square foot was $499.

Median Sold Price By Bedroom Count

# BEDSApr 2023Apr 2024CHANGE
1 $599.9K$599.9K
0.0%
2 $582.9K$635K
+8.9%
3 $765K$793.5K
+3.7%
4 $879.9K$992.5K
+12.8%
5+ $1.0M$1.0M
-4.0%

Summary: Medford housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 8.9%, 3 bedroom homes increased by 3.7%, 4 bedroom homes increased by 12.8%, and 5+ bedroom homes decreased by 4%.

Median Sold Price Compared To Nearby Cities

Malden
+10.4%
Somerville
+10.1%
Medford
+9.2%
Everett
+7.1%
Winchester
+3.9%

Housing Supply in Medford, MA

How many homes are available in Medford, MA?

Number of Homes For Sale

Mar 2024Apr 2024CHANGE
107122+14.0%

Summary: The Medford real estate market had 122 homes for sale in April 2024, a 14.0% increase compared to March 2024.

Homes For Sale By Bedroom Count

# BEDSMar 2024Apr 2024CHANGE
1 116
-45.5%
2 3330
-9.1%
3 2844
+57.1%
4 2122
+4.8%
5+ 1420
+42.9%

Summary: The Medford housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 45.5%, 2 bedroom homes decreased by 9.1%, 3 bedroom homes increased by 57.1%, 4 bedroom homes increased by 4.8%, and 5+ bedroom homes increased by 42.9%.

Number of Homes Sold

Mar 2024Apr 2024CHANGE
38380.0%

Asking Price vs. Sold Price

8 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

24 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Medford, you could pay more than the asking price. 63.2% of homes here sold above asking price last month.

Summary: A total of 38 homes were sold or pending in Medford in April 2024, the same as the previous month. Of the 38 sold homes, 21% were sold under asking, 16% were sold at asking, and 63% were sold over asking.

Days on Market for Medford, MA

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

Average Sale Time

Apr 2023Apr 2024CHANGE
23 Days26 Days+11.1%

Summary: Homes in Medford had an average of 26 days on market in Apr 2024, up by 11.1% compared to last year.

Breakdown of Home Sale Times

29 Homes Were Sold
Under 30 Days

6 Homes Were Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During April 2024, 38 homes were sold in Medford; 76% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 8% 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 14 Days Ago

Newest Listings in Medford, MA

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