Melrose, MA Housing Market
The Melrose housing market is very competitive. Homes in Melrose receive 9 offers on average and sell in around 8 days. The median sale price of a home in Melrose was $870K last month, up 17.1% since last year. The median sale price per square foot in Melrose is $490, up 12.1% since last year.
Melrose Housing Market Trends
In February 2024, Melrose home prices were up 17.1% compared to last year, selling for a median price of $870K. On average, homes in Melrose sell after 8 days on the market compared to 18 days last year. There were 11 homes sold in February this year, up from 8 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
- Many homes get multiple offers, some with waived contingencies.
- The average homes sell for about 5% above list price and go pending in around 14 days.
- Hot homescan sell for about 9% 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 2% above list price and go pending in around 22 days.
- Hot homescan sell for about 5% above list price and go pending in around 12 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 2% above list price and go pending in around 21 days.
- Hot homescan sell for about 6% above list price and go pending in around 13 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 San Francisco.
- 82% 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 | Dec '23 - Feb '24 | ||
1 | 1,427 | ||
2 | 996 | ||
3 | 401 | ||
4 | 182 | ||
5 | 177 | ||
6 | 171 | ||
7 | 57 | ||
8 | 40 | ||
9 | 23 | ||
10 | 15 |
Outbound | Net outflow | ||
---|---|---|---|
Metros | Dec '23 - Feb '24 | ||
1 | 2,994 | ||
2 | 1,862 | ||
3 | 1,819 | ||
4 | 985 | ||
5 | 935 | ||
6 | 814 | ||
7 | 693 | ||
8 | 624 | ||
9 | 504 | ||
10 | 321 |
Home offer insights for Melrose
Recent offers
- Winning Offer|11 Weeks Ago~$1.25M Offer7 bd | 3.5 ba | ~3,500 sqftOver List Price0%Days on Market48Competing Offers1Down Payment~20%
- Offer Not Accepted|7 Weeks Ago~$650K OfferSold for $700K3 bd | 1 ba | ~1,750 sqftOver List Price8%Days on Market15Competing Offers>25Down Payment~30%
- Offer Not Accepted|7 Weeks Ago~$600K OfferSold for $700K3 bd | 1 ba | ~1,750 sqftOver List Price4%Days on Market15Competing Offers24Down Payment<10%
- Offer Not Accepted|11 Weeks Ago~$500K OfferSold for $600K3 bd | 1.5 ba | ~1,250 sqftOver List Price7%Days on Market27Competing Offers15Down Payment~30%
- Offer Not Accepted|7 Weeks Ago~$700K OfferSold for $700K3 bd | 1 ba | ~1,750 sqftOver List Price17%Days on Market15Competing Offers>25Down Payment~20%
View houses in Melrose that sold recently
Recently sold homes
- $920,000 Last Sold Price4 beds2 baths1,951 sq ft34-36 W Highland Ave, Melrose, MA 02176List Price$799,900Sale to List15% over listDays on Market47 days34-36 W Highland Ave, Melrose, MA 02176
- $485,000 Last Sold Price3 beds1 bath1,372 sq ft125 Lebanon St #3, Melrose, MA 02176List Price$499,900Sale to List3% under listDays on Market102 days125 Lebanon St #3, Melrose, MA 02176
- $856,000 Last Sold Price3 beds1.5 baths2,195 sq ft18 Irving St, Melrose, MA 02176List Price$775,000Sale to List10% over listDays on Market46 days18 Irving St, Melrose, MA 02176
- $1,200,000 Last Sold Price4 beds2.5 baths2,300 sq ft11 Sharon Rd, Melrose, MA 02176List Price$1,050,000Sale to List14% over listDays on Market46 days11 Sharon Rd, Melrose, MA 02176
- $1,050,000 Last Sold Price7 beds3 baths3,741 sq ft14-16 Emerson Pl, Melrose, MA 02176List Price$989,900Sale to List6% over listDays on Market75 days14-16 Emerson Pl, Melrose, MA 02176
- $942,000 Last Sold Price3 beds2.5 baths2,054 sq ft426 East Foster St, Melrose, MA 02176List Price$948,000Sale to List1% under listDays on Market52 days426 East Foster St, Melrose, MA 02176
- $991,000 Last Sold Price5 beds2 baths2,400 sq ft62 Cranmore Ln, Melrose, MA 02176List Price$975,000Sale to List2% over listDays on Market33 days62 Cranmore Ln, Melrose, MA 02176
- $1,110,000 Last Sold Price5 beds2.5 baths1,955 sq ft15 Orient Pl, Melrose, MA 02176List Price$999,900Sale to List11% over listDays on Market62 days15 Orient Pl, 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 | 411 Students | 3 reviews |
9/10 Horace Mann Elementary School Public • K-5 | 277 Students | 4 reviews |
8/10 Roosevelt Elementary School Public • K-5 | 419 Students | 3 reviews |
7/10 Hoover Elementary School Public • K-5 | 290 Students | 4 reviews |
6/10 Lincoln Elementary School Public • K-5 | 429 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.
Flood Factor - Moderate
Flood Factor
Fire Factor - Moderate
Fire Factor
Wind Factor - Major
Wind Factor
Wind likelihood over time
Heat Factor - Major
Heat Factor
Transportation in Melrose
Walk Score®
Transit Score®
Bike Score®
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