Medfield, MA Home Sales and Real Estate Market Report (2019)
The Medfield Homes For Sale Market Report
Some times in markets, it takes time for everyone to come together. Medfield is a good example, where home sellers got really optimistic in 2016, but if they wanted to sell, they needed to come down. The buyers came up - slowly - but most of the asking prices and movement was done by the sellers, as they moved down to meet the buyers.
Can’t see the chart? You can find it Here .
Normally, when you see prices converge, you'll get a bump in transaction activity. But we don't get that here. Why? Well, seller behavior hasn't been affected by home buyer behavior. It's been affected by other home sellers. The rise of competition has made it easier for sellers to price realistically. They have been stubborn, as Medfield home sellers are willing to sit 55 days on average for a sale - which is really high for this cycle - but they have come down all the same.
What should potential home buyers do in Medfield?
Medfield at $300/ sq foot isn't inexpensive, but these prices actually are good value in this market relative to different points in the cycle. Buyers haven't really pushed prices up in an irrational manner, so these prices reflect fair value in Medfield. With more choices, buyers can lean harder on sellers, and mostly they should feel good about where things are at here.
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What should future home sellers do in Medfield?
Home sellers should be aware - competition - especially in the higher segments - is here and you won't be guaranteed a quick sale. While lower priced homes will find traffic and quick sales, the luxury segment will find a more sluggish market that is price sensitive.
Medfield Homes For Sale and Sold Market Statistics - MLS Data
- The Medfield “Home Seller Index” (HSI): 135 Last Report: 228
- There are 48 homes currently listed as For Sale by Home Sellers.
- In Medfield there have been 87 houses sold in the last 6 months, and 65 homes sold in the last 3 months.
- The Average number of Days on Market (DOM) was 55 days for the last 6 months of SOLD homes In Medfield.
- Homes for sale have been looking for buyers for an average of 90 days (the homes currently for sale).
- The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $293 (vs. $279 in the last report)
- Current home sellers are looking for $295/sq foot
- There was an Average Sold Price of $719,542.
- Medfield, MA, has 2 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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