The 2022 market trends for Medford MA show Condo, Single Family, and Multi-Family home sale prices increased due to very strong home buyer demand.

Market Trends Medford MA 2022

Average & Median Sale Prices

Comparison of 2022 home sale prices for residential Condominium, Single Family, and Multi-Family homes sold in Medford, Massachusetts:

Medford MAAverage Sale $ 20221 Year ChangeMedian Sale $ 20221 Year Change
Condo$691,98510% Increase$629,0003% Increase
Single$845,61810% Increase$815,4189% Increase
Multi-Family$1,050,89511% Increase$1,010,00015% Increase

Home Sale Price Trends:  Medford MA

  • In 2022 the average sale price for Condominiums increased 10% and the median sale price increased 3%.
  • For Single Family homes in 2022 the average sale price increased 10% while the median sale price increased 9%.
  • Average sale price increased 11% and median sale price increased 15% for Multi-Family homes in 2022.

2022 Home Inventory

Comparison of 2021 and 2022 residential Condominium, Single Family, and Multi-Family homes listed for sale in Medford, Massachusetts:

Medford MA# Listings 2021# Listings 20221 Year Change
Condo3513695% Increase
Single37132812% Decrease
Multi-Family13910922% Decrease

Home Inventory Trends:  Medford MA

  • In 2022 the number of Condominium listings increased 5% from 2021.
  • Single Family homes listed for sale decreased 12% from 2021 to 2022.
  • The number of Multi-Family homes listed for sale decreased 22% in 2022.

2022 Market Timing

Comparison of 2021 and 2022 Days to Offer for residential Condominium, Single Family, and Multi-Family homes sold in Medford, Massachusetts:

Medford MA# Days to Offer 2021# Days to Offer 20221 Year Change
Condo28 Days17 Days11 Days Shorter
Single18 Days14 Days4 Days Shorter
Multi-Family16 Days15 Days1 Day Shorter

Market Timing Trends:  Medford MA

  • From 2021 to 2022 the number of days to offer for Condominium listings decreased from 28 to 17 days.
  • For Single Family homes the number of days to offer decreased from 18 to 14 days in 2022.
  • The number of days to offer for Multi-Family homes decreased from 16 to 15 days in 2022.

Data Source:  MLS Pinergy® as of 3-29-2023
©2023 Intellectual property of Tamela Roche, all rights reserved

Market Timing Terms

The term “days to offer” refers to the number of days from the original listing date until the date upon which a seller accepts a buyer’s offer to purchase.  This represents the most accurate measurement of market speed because it shows the buyer’s true sense of urgency.

“Days on market” is a term used to measure the number of days from original listing date to the date a property status is changed in MLS to “under agreement”.  This status code is highly subjective and used inconsistently; therefore, “days to offer” is the most reliable measurement for market speed.

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About Tamela Roche, Realtor® – RE/MAX Destiny