Is Wilmington, 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, Wilmington has remained a Seller's Market.
Key Takeaway
Wilmington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Wilmington, MA
How much do homes in Wilmington, MA cost?
Median Sold Price
$700,000
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Wilmington have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Wilmington was $700,000 in May 2024, up 4.5% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $415K | $430K | +3.6% |
| 2 Bedrooms | $575K | $645K | +12.2% |
| 3 Bedrooms | $650K | $697.5K | +7.3% |
| 4 Bedrooms | $831.5K | $820K | -1.4% |
| 5+ Bedrooms | $796.5K | $910K | +14.2% |
Summary: Wilmington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.6%, 2 bedroom homes increased by 12.2%, 3 bedroom homes increased by 7.3%, 4 bedroom homes decreased by 1.4%, and 5+ bedroom homes increased by 14.2%.
Median Sold Price Compared To Nearby Cities
| Billerica | $616.6K | $650K | +5.4% |
| Tewksbury | $576.6K | $607K | +5.3% |
| Wilmington | $669.9K | $700K | +4.5% |
| Reading | $775K | $777.5K | 0.3% |
| North Reading | $694.2K | $694.7K | 0.1% |
Housing Supply in Wilmington, MA
How many homes are available in Wilmington, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 52 | 54 | +3.8% |
Summary: The Wilmington real estate market had 54 homes for sale in May 2024, a 3.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 1 | +100.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 27 | 26 | -3.7% |
| 4 Bedrooms | 16 | 15 | -6.3% |
| 5+ Bedrooms | 2 | 5 | +150.0% |
Summary: The Wilmington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 3.7%, 4 bedroom homes decreased by 6.3%, and 5+ bedroom homes increased by 150%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 8 | 18 | +125.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Wilmington, you could pay more than the asking price. 88.9% of homes here sold above asking price last month.
Summary: A total of 18 homes were sold or pending in Wilmington in May 2024, up by 125.0% month-over-month. Of the 18 sold homes, 11% were sold under asking, 0% were sold at asking, and 89% were sold over asking.
Days on Market for Wilmington, MA
How long does it take to sell a home in Wilmington, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 14 Days | -17.4% |
Summary: Homes in Wilmington had an average of 14 days on market in May 2024, down by 17.4% compared to last year.
Breakdown of Home Sale Times
17 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Wilmington are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 18 homes were sold in Wilmington; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
