Is Needham Heights, 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, Needham Heights has remained a Seller's Market.
Key Takeaway
Needham Heights is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Needham Heights, MA
How much do homes in Needham Heights, MA cost?
Median Sold Price
$1,403,000
$475/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Needham Heights have sold for 7.9% more than they did a year ago.
Summary: The median home sold price in Needham Heights was $1,403,000 in May 2024, up 7.9% from last year, and the median price per square foot was $475.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $372.5K | $311.5K | -16.4% |
| 2 Bedrooms | $860K | $533.5K | -38.0% |
| 3 Bedrooms | $990K | $1.0M | +7.3% |
| 4 Bedrooms | $1.5M | $1.4M | -3.9% |
| 5+ Bedrooms | $2.3M | $1.9M | -13.8% |
Summary: Needham Heights housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 16.4%, 2 bedroom homes decreased by 38%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 3.9%, and 5+ bedroom homes decreased by 13.8%.
Median Sold Price Compared To Nearby Cities
| Needham | $1.3M | $1.5M | +11.8% |
| Wellesley Hills | $2.0M | $2.2M | +10.7% |
| Newton | $1.3M | $1.4M | +8.4% |
| Needham Heights | $1.3M | $1.4M | +7.9% |
| Wellesley | $1.8M | $1.9M | +7.5% |
Housing Supply in Needham Heights, MA
How many homes are available in Needham Heights, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 22 | +10.0% |
Summary: The Needham Heights real estate market had 22 homes for sale in May 2024, a 10.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 2 | 2 | 0.0% |
| 3 Bedrooms | 4 | 5 | +25.0% |
| 4 Bedrooms | 6 | 6 | 0.0% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Needham Heights 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 increased by 25%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 8 | +166.7% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Needham Heights, you may be able to get a good deal. 50% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Needham Heights in May 2024, up by 166.7% month-over-month. Of the 8 sold homes, 50% were sold under asking, 0% were sold at asking, and 50% were sold over asking.
Days on Market for Needham Heights, MA
How long does it take to sell a home in Needham Heights, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 17 Days | -56.3% |
Summary: Homes in Needham Heights had an average of 17 days on market in May 2024, down by 56.3% compared to last year.
Breakdown of Home Sale Times
7 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 Needham Heights are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 8 homes were sold in Needham Heights; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
