Melrose, MA Housing Market
The Melrose housing market is most competitive. Homes in Melrose receive 10 offers on average and sell in around 8 days. The median sale price of a home in Melrose was $963K last month, up 19.6% since last year. The median sale price per square foot in Melrose is $484, up 3.3% since last year.
Melrose Housing Market Trends
In April 2024, Melrose home prices were up 19.6% compared to last year, selling for a median price of $963K. On average, homes in Melrose sell after 8 days on the market compared to 12 days last year. There were 12 homes sold in April this year, down from 23 last year.
How much is your home worth? Track your home’s value and compare it to nearby sales.
How hot is the Melrose housing market?
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Most homes get multiple offers, often with waived contingencies.
- The average homes sell for about 5% above list price and go pending in around 13 days.
- Hot homescan sell for about 13% above list price and go pending in around 7 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 4% above list price and go pending in around 15 days.
- Hot homescan sell for about 10% above list price and go pending in around 7 days.
The Redfin Compete Score rates how competitive an area is on a scale of 0 to 100, where 100 is the most competitive.
Calculated over the last 3 months
- Most homes get multiple offers, often with waived contingencies.
- The average homes sell for about 6% above list price and go pending in around 13 days.
- Hot homescan sell for about 14% above list price and go pending in around 7 days.
Melrose Migration & Relocation Trends
- Across the nation, 2% of homebuyers searched to move into Melrose from outside metros.
- New York homebuyers searched to move into Melrose more than any other metro followed by Hartford and Washington.
- 83% of Melrose homebuyers searched to stay within the Melrose metropolitan area.
- Portland was the most popular destination among Melrose homebuyers followed by Lebanon and Miami.
Inbound | Net inflow | ||
---|---|---|---|
Metros | Mar '24 - May '24 | ||
1 | 3,455 | ||
2 | 1,575 | ||
3 | 383 | ||
4 | 371 | ||
5 | 279 | ||
6 | 276 | ||
7 | 123 | ||
8 | 34 | ||
9 | 26 | ||
10 | 22 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Mar '24 - May '24 | ||
1 | 3,341 | ||
2 | 1,554 | ||
3 | 1,475 | ||
4 | 924 | ||
5 | 894 | ||
6 | 865 | ||
7 | 805 | ||
8 | 655 | ||
9 | 395 | ||
10 | 373 |
Home offer insights for Melrose
Recent offers
- Winning Offer|8 Weeks Ago~$850K Offer3 bd | 1.5 ba | ~2,250 sqftOver List Price15%Days on Market15Competing Offers7Down Payment~40%
- Offer Not Accepted|12 Weeks Ago~$1.75M OfferSold for $1.75M8 bd | 4 ba | ~4,000 sqftOver List Price14%Days on Market6Competing Offers8Down Payment~30%
View houses in Melrose that sold recently
Recently sold homes
- $1,340,000 Last Sold Price3 beds2.5 baths1,852 sq ft243 First St, Melrose, MA 02176List Price$1,250,000Sale to List7% over listDays on Market37 days243 First St, Melrose, MA 02176
- $877,000 Last Sold Price4 beds2 baths2,370 sq ft167 Forest St, Melrose, MA 02176List Price$769,900Sale to List14% over listDays on Market37 days167 Forest St, Melrose, MA 02176
- $1,578,000 Last Sold Price3 beds3.5 baths3,500 sq ft35 Elmcrest Cir, Melrose, MA 02176List Price$1,425,000Sale to List11% over listDays on Market36 days35 Elmcrest Cir, Melrose, MA 02176
- $840,000 Last Sold Price3 beds1.5 baths1,691 sq ft195 Florence St, Melrose, MA 02176List Price$799,900Sale to List5% over listDays on Market51 days195 Florence St, Melrose, MA 02176
- $1,160,000 Last Sold Price4 beds1.5 baths2,010 sq ft53 Albert St, Melrose, MA 02176List Price$950,000Sale to List22% over listDays on Market46 days53 Albert St, Melrose, MA 02176
- $650,000 Last Sold Price3 beds2 baths1,659 sq ft40 Waverly Pl, Melrose, MA 02176List Price$675,000Sale to List4% under listDays on Market51 days40 Waverly Pl, Melrose, MA 02176
- $500,000 Last Sold Price1 bed1 bath795 sq ft83 N Cedar Park #2, Melrose, MA 02176List Price$499,000Sale to List0% over listDays on Market54 days83 N Cedar Park #2, Melrose, MA 02176
- $850,000 Last Sold Price5 beds4 baths2,789 sq ft73 Essex St, Melrose, MA 02176List Price$799,000Sale to List6% over listDays on Market36 days73 Essex St, Melrose, MA 02176
See all recently sold homes in Melrose.
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Schools in Melrose
- Elementary
- Middle
- High
GreatSchools Rating
9/10 Winthrop Elementary School Public • K-5 | 393 Students | 3 reviews |
9/10 Horace Mann Elementary School Public • K-5 | 271 Students | 4 reviews |
8/10 Roosevelt Elementary School Public • K-5 | 421 Students | 3 reviews |
7/10 Hoover Elementary School Public • K-5 | 300 Students | 4 reviews |
6/10 Lincoln Elementary School Public • K-5 | 404 Students | 2 reviews |
Climate's impact on Melrose housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that could impact homes in Melrose.
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Wind Factor - Major
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Wind likelihood over time
Heat Factor - Major
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Transportation in Melrose
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