Is Rochester, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
At the same time last year, Rochester was a Seller's Market.
Key Takeaway
Rochester is a Neutral Housing Market, which means prices tend to be reasonable and homes stay on the market for a typical length of time.
Housing Prices in Rochester, MA
How much do homes in Rochester, MA cost?
Median Sold Price
$680,000
$315/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Rochester have sold for 21.4% more than they did a year ago.
Summary: The median home sold price in Rochester was $680,000 in May 2024, up 21.4% from last year, and the median price per square foot was $315.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $475K | $366K | -22.9% |
| 2 Bedrooms | $570K | $480K | -15.8% |
| 3 Bedrooms | $510K | $632.5K | +24.0% |
| 4 Bedrooms | $685K | $747.4K | +9.1% |
| 5+ Bedrooms | $700K | $1.0M | +42.9% |
Summary: Rochester housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 22.9%, 2 bedroom homes decreased by 15.8%, 3 bedroom homes increased by 24%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 42.9%.
Median Sold Price Compared To Nearby Cities
| Marion | $704.9K | $860K | +22.0% |
| Rochester | $560K | $680K | +21.4% |
| Mattapoisett | $650K | $760K | +16.9% |
| West Wareham | $410K | $475K | +15.9% |
| Wareham | $406.2K | $419.9K | +3.4% |
Housing Supply in Rochester, MA
How many homes are available in Rochester, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 19 | 19 | 0.0% |
Summary: The Rochester real estate market had 19 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 6 | 9 | +50.0% |
| 4 Bedrooms | 6 | 3 | -50.0% |
| 5+ Bedrooms | 1 | 2 | +100.0% |
Summary: The Rochester 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 decreased by 16.7%, 3 bedroom homes increased by 50%, 4 bedroom homes decreased by 50%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 4 | 3 | -25.0% |
Asking Price vs. Sold Price
1 Home Was Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Rochester, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 3 homes were sold or pending in Rochester in May 2024, down by 25.0% month-over-month. Of the 3 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Rochester, MA
How long does it take to sell a home in Rochester, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 73 Days | +189.7% |
Summary: Homes in Rochester had an average of 73 days on market in May 2024, up by 189.7% compared to last year.
Breakdown of Home Sale Times
2 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Rochester are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 3 homes were sold in Rochester; 67% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 33% of homes were sold over 90 days.
