Is Jamaica Plain, 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, Jamaica Plain has remained a Seller's Market.
Key Takeaway
Jamaica Plain is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Jamaica Plain, MA
How much do homes in Jamaica Plain, MA cost?
Median Sold Price
$776,666
$625/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Jamaica Plain have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in Jamaica Plain was $776,666 in May 2024, up 0.6% from last year, and the median price per square foot was $625.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $423.2K | $419.5K | -0.9% |
| 2 Bedrooms | $649K | $651K | 0.3% |
| 3 Bedrooms | $940K | $910K | -3.2% |
| 4 Bedrooms | $1.2M | $1.4M | +17.4% |
| 5+ Bedrooms | $1.4M | $1.3M | -7.7% |
Summary: Jamaica Plain housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.9%, 2 bedroom homes increased by 0.3%, 3 bedroom homes decreased by 3.2%, 4 bedroom homes increased by 17.4%, and 5+ bedroom homes decreased by 7.7%.
Median Sold Price Compared To Nearby Neighborhoods
| Egleston Square | $730K | $806K | +10.4% |
| Jamaica Plain | $771.6K | $776.6K | +0.6% |
| Hyde Square | $768.9K | $750K | -2.5% |
Housing Supply in Jamaica Plain, MA
How many homes are available in Jamaica Plain, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 86 | 119 | +38.4% |
Summary: The Jamaica Plain real estate market had 119 homes for sale in May 2024, a 38.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 10 | 17 | +70.0% |
| 2 Bedrooms | 40 | 47 | +17.5% |
| 3 Bedrooms | 21 | 30 | +42.9% |
| 4 Bedrooms | 6 | 11 | +83.3% |
| 5+ Bedrooms | 9 | 14 | +55.6% |
Summary: The Jamaica Plain housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 70%, 2 bedroom homes increased by 17.5%, 3 bedroom homes increased by 42.9%, 4 bedroom homes increased by 83.3%, and 5+ bedroom homes increased by 55.6%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 16 | 27 | +68.8% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
20 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Jamaica Plain, you could pay more than the asking price. 74.1% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Jamaica Plain in May 2024, up by 68.8% month-over-month. Of the 27 sold homes, 22% were sold under asking, 4% were sold at asking, and 74% were sold over asking.
Days on Market for Jamaica Plain, MA
How long does it take to sell a home in Jamaica Plain, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 31 Days | +13.0% |
Summary: Homes in Jamaica Plain had an average of 31 days on market in May 2024, up by 13% compared to last year.
Breakdown of Home Sale Times
19 Homes Were Sold
Under 30 Days
5 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Jamaica Plain are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Jamaica Plain; 70% of homes were sold within 30 days, 19% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
