Is Mendon, 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, Mendon has remained a Seller's Market.
Key Takeaway
Mendon is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Mendon, MA
How much do homes in Mendon, MA cost?
Median Sold Price
$707,000
$300/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Mendon have sold for 8.8% more than they did a year ago.
Summary: The median home sold price in Mendon was $707,000 in May 2024, up 8.8% from last year, and the median price per square foot was $300.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $364.5K | - | N/A |
| 2 Bedrooms | $443K | $437K | -1.4% |
| 3 Bedrooms | $625K | $607.5K | -2.8% |
| 4 Bedrooms | $757.5K | $815K | +7.6% |
| 5+ Bedrooms | $650K | $862.5K | +32.7% |
Summary: Mendon housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 1.4%, 3 bedroom homes decreased by 2.8%, 4 bedroom homes increased by 7.6%, and 5+ bedroom homes increased by 32.7%.
Median Sold Price Compared To Nearby Cities
| Bellingham | $441K | $489.9K | +11.1% |
| Mendon | $650K | $707K | +8.8% |
| Upton | $652.7K | $652K | -0.1% |
| Hopedale | $535K | $497.5K | -7.0% |
Housing Supply in Mendon, MA
How many homes are available in Mendon, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 21 | +10.5% |
Summary: The Mendon real estate market had 21 homes for sale in May 2024, a 10.5% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 0 | 0 | 0.0% |
| 3 Bedrooms | 6 | 3 | -50.0% |
| 4 Bedrooms | 9 | 13 | +44.4% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Mendon 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 decreased by 50%, 4 bedroom homes increased by 44.4%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 6 | +100.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
1 Home Was Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Mendon, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 6 homes were sold or pending in Mendon in May 2024, up by 100.0% month-over-month. Of the 6 sold homes, 17% were sold under asking, 17% were sold at asking, and 67% were sold over asking.
Days on Market for Mendon, MA
How long does it take to sell a home in Mendon, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 23 Days | 23 Days | 0.0% |
Summary: Homes in Mendon had an average of 23 days on market in May 2024, the same as last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Mendon are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 6 homes were sold in Mendon; 67% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
