The Medfield Homes For Sale Market Report
Here in Medfield, an expensive town in my area, as it lies closer to Boston, we see that prices are having trouble moving up. After a great run, moving from 220 to 280, they remain about where they were for the past 2 years. Sellers expectations have come down - and stay down.
So what's up in Medfield? Well this report shows that there is a limit to the affordability of housing, and this part of Massachusetts has been bumping up against that limit. With a limit to the number of buyers that can pay $300/ sq foot, and those buyers having options elsewhere, they are either choosing to get less in other towns or choosing to pay less in other towns. Either way - Medfield has been capped out, and it'll stay that way until there's more demand, which could happen with rising prices to the east, or continued falling supply.
Can’t see the chart? You can find it Here .
That won't be easy though -supply remains at record lows. The market is as good for sellers as ever - but the prices rises aren't happening. In fact, if you look at the data, there's some signs there that we are topping out. Average sale price dropped - showing that the lower stuff is moving quicker than the higher priced stuff - and the current average days on market for actives is 120 days - not the 75 we are used to seeing.
What should potential home buyers do in Medfield ?
Recognize that there is softness in the upper levels of the market. More sellers than buyers. Lots of competition in the lower levels however.
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What should future home sellers do in Medfield ?
Medfield Homes For Sale and Sold Market Statistics - MLS Data
- The Medfield “Home Seller Index” (HSI):228 Last Report:228
- There are 19 homes currently listed as For Sale by Home Sellers.
- In Medfield there have been 99 houses sold in the last 6 months, and 46 homes sold in the last 3 months.
- The Average number of Days on Market (DOM) was 45 days for the last 6 months of SOLD homes In Medfield .
- Homes for sale have been looking for buyers for an average of 125 days (the homes currently for sale).
- The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 279 (vs. 285 in the last report)
- Current home sellers are looking for $ 313 /sq foot
- There was an Average Sold Price of $719,361 .
- Medfield , MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
- There are 0 properties advertised as a short-sale is going to be needed by the lender.
All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.
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