Is Suffolk County, 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, Suffolk County has remained a Seller's Market.
Key Takeaway
Suffolk County is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Suffolk County, MA
How much do homes in Suffolk County, MA cost?
Median Sold Price
$777,217
$599/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Suffolk County have sold for 3.7% more than they did a year ago.
Summary: The median home sold price in Suffolk County was $777,217 in May 2024, up 3.7% from last year, and the median price per square foot was $599.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $578K | $575.1K | -0.5% |
| 2 Bedrooms | $705K | $740K | +5.0% |
| 3 Bedrooms | $749.9K | $770.1K | +2.7% |
| 4 Bedrooms | $816.8K | $859.5K | +5.2% |
| 5+ Bedrooms | $968.6K | $1.0M | +8.4% |
Summary: Suffolk County housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.5%, 2 bedroom homes increased by 5%, 3 bedroom homes increased by 2.7%, 4 bedroom homes increased by 5.2%, and 5+ bedroom homes increased by 8.4%.
Median Sold Price Compared To Nearby Counties
| Middlesex County | $713.1K | $775.2K | +8.7% |
| Norfolk County | $650.8K | $700.3K | +7.6% |
| Essex County | $599.9K | $633.7K | +5.6% |
| Suffolk County | $749.8K | $777.2K | +3.7% |
Housing Supply in Suffolk County, MA
How many homes are available in Suffolk County, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 2,293 | 2,509 | +9.4% |
Summary: The Suffolk County real estate market had 2,509 homes for sale in May 2024, a 9.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 418 | 465 | +11.2% |
| 2 Bedrooms | 864 | 935 | +8.2% |
| 3 Bedrooms | 489 | 538 | +10.0% |
| 4 Bedrooms | 220 | 236 | +7.3% |
| 5+ Bedrooms | 302 | 335 | +10.9% |
Summary: The Suffolk County housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 11.2%, 2 bedroom homes increased by 8.2%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 10.9%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 442 | 502 | +13.6% |
Asking Price vs. Sold Price
197 Homes Were Sold
Under Asking
75 Homes Were Sold
At Asking
230 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Suffolk County, you could pay more than the asking price. 45.8% of homes here sold above asking price last month.
Summary: A total of 502 homes were sold or pending in Suffolk County in May 2024, up by 13.6% month-over-month. Of the 502 sold homes, 39% were sold under asking, 15% were sold at asking, and 46% were sold over asking.
Days on Market for Suffolk County, MA
How long does it take to sell a home in Suffolk County, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 34 Days | -10.7% |
Summary: Homes in Suffolk County had an average of 34 days on market in May 2024, down by 10.7% compared to last year.
Breakdown of Home Sale Times
330 Homes Were Sold
Under 30 Days
135 Homes Were Sold
In 30 - 90 Days
37 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Suffolk County are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 502 homes were sold in Suffolk County; 66% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
