Medford MA Home Sales Market Report

The real estate market in Medford MA has undoubtedly benefited from the the rapidly ascending Greater Boston housing market. Once a quiet and affordable suburb just north of Boston, real estate prices in Medford have soared in recent years thanks to its close proximity to inner Boston and exorbitant real estate prices in the city’s core areas. As a result, the median sales price for single family homes for sale in Medford MA is $756K over the past 12 months, up from around $400K in 2012.

In spite of its growth, Medford’s median sales price ranks it in the bottom third of all Boston neighborhoods. At $756K, Medford is the 8th most affordable neighborhood to buy a single family home in Metro Boston, with median prices similar to that of Roslindale ($731K), Lower Allston ($754K), West Roxbury ($762K), and Fort Hill ($777K). If the city of Boston is taken out of the rankings, Medford is the second most affordable single family market behind Quincy, where the median sales price was $601K over the past 12 months.

In terms of real estate prices for square footage, Medford real estate has averaged $447 per square foot over the last year of MLS sales data. This ranks 7th most affordable among the 33 neighborhoods closest to Boston, and considerably less than Boston’s city square foot average ($720).

Medford’s real estate market is one of the more active in Metro Boston in terms of number of deals and days on market. In the past year, Medford has recorded 726 home sales, 8th most out all neighborhoods. Medford has the fastest sales cycle in all of Metro Boston with a median of only 60 days on market, more than 2 weeks shorter than Boston’s median of 75 days on market.

Medford’s relatively low home prices make it an attractive market for investors and homeowners alike. Medford does have a healthy supply of homes in its inventory, but properties have been slow to hit the market recently. There are only 36 active Medford sales listings at the moment in MLS, which is a big reason properties have been moving so fast in Medford as of late.

This will continue to put upward pressure on sales prices in Medford, making it a great investment for anyone purchasing a home. Look for the median sales price to approach $800K in 2022. We will continue to cover these housing market trends as they evolve. All Boston real estate data provided by Boston Pads.