Needham, MA

Needham is a town in Norfolk County, Massachusetts, United States. A suburb of Boston, its population was 28,886 at the 2010 census. It is home to the Franklin W. Olin College of Engineering, an engineering school. Needham was first settled in 1680 with the purchase of a tract of land measuring 4 miles (6.4km) by 5 miles (8.0km) from Chief Nehoiden for the sum of 10 pounds, 40 acres (160,000m2) of land, and 40 shillings worth of corn. It was officially incorporated in 1711. Originally part of the Dedham Grant, Needham split from Dedham and was named after the village of Needham Market in Suffolk, England, a neighbor of the English town of Dedham. By the 1770s settlers in the western part of the town who had to travel a long distance to the meeting house on what is now Central Avenue sought to form a second parish in the town. Opposition to this desire created conflict, and in 1774 a mysterious fire destroyed the extant meeting house. Some time afterwards the West Parish was formed.

Needham, MA - Single Family Properties

 
Needham
  • Unit sales in November were 28. This is up 133.3% from 12 in November of 2013.
  • Median price is up by 28.7%.
  • 3-month days on market is up 103.4% to 59.
Nearby Areas You May Be Interested In
  • Unit sales in Newton are up 53.1% to 49.
  • Months of supply in Newton in November was 3.3. This is up 51.3% from 2.2 in November of 2013.
  • Unit sales in Lexington are up by 47.4%.
Headlines are based on comparisons between this month and the same month last year unless otherwise stated.
Changes Favoring Buyers
3 Months Ending November, 2014 % Chg From Nov, 2013
Inventory 104 46.5%
Months of Supply 4.1 64.6%
Market Time (Days) 59 103.4%
Changes Favoring Sellers
3 Months Ending November, 2014 % Chg From Nov, 2013
Unit Sales 66 10.0%
Median Sale Price $842,500 15.9%
Sales to List Price Ratio 100.2% 0.8%
Price per Sq Ft for Sold $337 4.6%
New Listings 81 -5.8%
 
Sales
There were 28 unit sales in November. This is up 133.3% from 12 in November of 2013. Sales/list price ratio in November moved up to 99.8% from 98.8% in October.

Prices
Median price in November was $885,050. This is up 28.7% from $687,500 in November of 2013. This is the highest median price has been since June, 2014. 3-month median price of $842,500 in November was very slightly up from $805,000 in October and up slightly from $727,000 in November of 2013. Price per square foot in November was $320. This is down from $347 in October and down from $331 in November of 2013.

Inventory
Inventory of 88 in November was down 21.4% from 112 in October but up 37.5% from 64 in November of 2013. New listings of 9 in November were down substantially from 29 in October and down considerably from 19 in November of 2013. Months of supply of 3.4 in November was down somewhat from 4.6 in October but up substantially from 2.3 in November of 2013. This is the lowest months of supply has been since April, 2014.

Market Time
Days on market of 70 in November was up considerably from 53 in October and way up from 35 in November of 2013. This is the highest days on market has been since March, 2014.

Change in Median Sale Price for Single Family Properties YTD From 2013 To 2014 for Towns in Norfolk County Ranked by Best Performance
Town % Change
Brookline 14.20%
Franklin 12.50%
Norwood 12.03%
Wellesley 9.78%
Milton 9.00%
Randolph 8.75%
Medfield 8.55%
Weymouth 8.30%
Quincy 7.14%
Medway 6.76%
Data From: MLSPIN
Towns with an average of at least 10 sales per month (maximum of 10 towns)
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Needham, MA - Single Family Properties

August Headlines
Needham
  • Months of supply is up 59.7% to 4.4.
  • Days on market in August was 44. This is up 91.3% from 23 in August of 2013.
  • Inventory is up by 42.3%.
Other Towns In Norfolk County
  • Months of supply in Franklin is up 76.4% to 4.1.
  • Inventory in Franklin in August was 89. This is up 71.2% from 52 in August of 2013.
  • Unit sales in Wellesley are down by 37.5%.
Headlines are based on comparisons between this month and the same month last year unless otherwise stated.
Changes Favoring Buyers
3 Months Ending August, 2014 % Chg From Aug, 2013
Unit Sales 124 -9.5%
Median Sale Price $835,000 -0.4%
Inventory 115 51.3%
Months of Supply 4.6 69.2%
Market Time (Days) 41 41.4%
New Listings 102 4.1%
Changes Favoring Sellers
3 Months Ending August, 2014 % Chg From Aug, 2013
Sales to List Price Ratio 100.4% 1.4%
Price per Sq Ft for Sold $338 5.8%
Listings Under Contract 87 19.2%
 
Sales
There were 35 unit sales in August. This is down 7.9% from 38 in August of 2013. Sales/list price ratio in August moved up to 100.2% from 100.1% in July.

Prices
Median price in August was $756,000. This is down 11.6% from $855,000 in August of 2013. 3-month median price of $835,000 in August was down a little from $910,000 in July and down marginally from $838,500 in August of 2013.

Inventory
Inventory this month is 111, the same as last month. New listings this month are 27, the same as last month. Months of supply this month is 4.4, the same as last month.

Market Time
Days on market of 44 in August was down a little from 45 in July but way up from 23 in August of 2013.

Change in Median Sale Price for Single Family Properties YTD From 2013 To 2014 for Towns in Norfolk County Ranked by Best Performance
Town % Change
Brookline 15.91%
Franklin 12.00%
Norwood 11.42%
Canton 10.94%
Medfield 10.87%
Wellesley 10.68%
Weymouth 8.70%
Medway 8.39%
Norfolk 8.26%
Quincy 8.19%
Data From: MLSPIN
Towns with an average of at least 10 sales per month (maximum of 10 towns)
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Needham, MA - Single Family Properties

July Headlines
Needham
  • Months of supply is up by 70.0%.
  • Inventory is up 52.1% to 111.
  • New listings in July were 27. This is up 35.0% from 20 in July of 2013.
Other Towns In Norfolk County
  • Unit sales in Dedham are down 50.0% to 25.
  • Inventory in Brookline in July was 50. This is down 28.6% from 70 in July of 2013.
  • Days on market in Franklin is up by 133.3%.
Headlines are based on comparisons between this month and the same month last year unless otherwise stated.
Changes Favoring Buyers
3 Months Ending July, 2014 % Chg From Jul, 2013
Unit Sales 118 -10.6%
Inventory 120 62.2%
Months of Supply 4.7 78.2%
Market Time (Days) 46 7.0%
New Listings 160 21.2%
Changes Favoring Sellers
3 Months Ending July, 2014 % Chg From Jul, 2013
Median Sale Price $899,500 9.4%
Sales to List Price Ratio 99.0% 0.4%
Price per Sq Ft for Sold $348 5.4%
 
Sales
There were 45 unit sales in July. This is up 7.1% from 42 in July of 2013. On a year-over-year basis, unit sales have been rising or even for 5 months. This is the highest unit sales have been since 57 in June, 2013. Sales/list price ratio in July moved down to 97.4% from 100.9% in June.

Prices
Median price in July was $832,748. This is up 6.4% from $782,900 in July of 2013. 3-month median price of $899,500 in July was down marginally from $905,000 in June but up a little from $822,500 in July of 2013.

Inventory
Inventory of 111 in July was down 11.2% from 125 in June but up 52.1% from 73 in July of 2013. New listings of 27 in July were down considerably from 48 in June but up substantially from 20 in July of 2013. Months of supply of 4.4 in July was down slightly from 5 in June but up considerably from 2.6 in July of 2013.

Market Time
Days on market of 45 in July was up substantially from 33 in June and way up from 31 in July of 2013.

Change in Median Sale Price for Single Family Properties YTD From 2013 To 2014 for Towns in Norfolk County Ranked by Best Performance
Town % Change
Canton 17.85%
Weymouth 13.56%
Norwood 12.68%
Franklin 12.53%
Medfield 12.28%
Brookline 11.89%
Wellesley 11.40%
Milton 9.00%
Stoughton 8.77%
Medway 8.11%
Data From: MLSPIN
Towns with an average of at least 10 sales per month (maximum of 10 towns)
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    Listings
    photo.aspx?mls=72044019&w=1024&h=768&n=0image_shadow.png
    FOR SALE

    6 Bed

    7.0 Bath

    6,700SqFt

    382 South Street,
    Needham, MA 02492

    $2,795,000

    Listed ByKeller Williams Realty

    MLS® #72044019 MLS® # 72044019 (Active)
    photo.aspx?mls=72152338&w=1024&h=768&n=0image_shadow.png
    FOR SALE

    6 Bed

    6.5 Bath

    6,450SqFt

    129 Edgewater Drive,
    Needham, MA 02492

    $2,649,000

    Listed ByKeller Williams Realty

    MLS® #72152338 MLS® # 72152338 (Active)
    photo.aspx?mls=72140993&w=1024&h=768&n=0image_shadow.png
    FOR SALE

    5 Bed

    4.5 Bath

    7,282SqFt

    7 EATON RD,
    Needham, MA 02492

    $2,449,000

    Listed ByRE/MAX Home Team

    MLS® #72140993 MLS® # 72140993 (Active)
    photo.aspx?mls=72131620&w=1024&h=768&n=0image_shadow.png
    FOR SALE

    5 Bed

    5.5 Bath

    6,346SqFt

    145 Winding River,
    Needham, MA 02492

    $2,399,000

    Listed ByWilliam Raveis R.E. & Home Services

    MLS® #72131620 MLS® # 72131620 (Active)
    photo.aspx?mls=72084530&w=1024&h=768&n=0image_shadow.png
    FOR SALE

    6 Bed

    4.0 Bath

    5,250SqFt

    50 Wildwood Dr,
    Needham, MA 02492

    $2,350,000

    Listed ByColdwell Banker Residential Brokerage - Needham

    MLS® #72084530 MLS® # 72084530 (Active)

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    Contact Info
    Agent
    The Walsh Team

    "Best Agents in America 2013"

    William Raveis Real Estate

    73 Central St.
    Wellesley  Massachusetts 02482

    508-934-4030 508-341-4904

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    Last updated on Apr 30, 2017.



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    Last updated on Apr 30, 2017.

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