The Downtown Melrose housing market is very competitive. The median sale price of a home in Downtown Melrose was $815K last month, up 18.0% since last year. The median sale price per square foot in Downtown Melrose is $650, up 36.1% since last year.
What is the housing market like in Downtown Melrose today?
In March 2024, Downtown Melrose home prices were up 18.0% compared to last year, selling for a median price of $815K. On average, homes in Downtown Melrose sell after 14 days on the market compared to 28 days last year. There were 5 homes sold in March this year, up from 2 last year.
All Home Types
Median Sale PriceAll Home Types
Median Sale Price
(All Home Types)
$815,000
+18.0% YoY | Mar 2024
Based on Redfin calculations of home data from MLS and/or public records.
Location
Data
Mar 2024
Growth
% YoY
Downtown Melrose, MA
$815,000
+18.0%
United States
To compare other locations to the Downtown Melrose and U.S. housing market, enter a city, neighborhood, state, or zip code into the search bar. Learn which home features in Melrose add value to a home.
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How hot is the Downtown Melrose housing market?
Downtown Melrose is very competitive. Homes sell in 16 days.
0
100
87
Very Competitive
Redfin Compete Score™
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 12 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 16 days.
Hot homes
can sell for about 8% above list price and go pending in around 10 days.
School data provided by GreatSchools. School service boundaries are intended to be used as reference only. To verify enrollment eligibility for a property, contact the school directly.
Climate's impact on Downtown Melrose housing
Learn about natural hazards and environmental risks, such as floods, fires, wind, and heat that
could impact homes in Downtown Melrose.
Risk Factor
Flood Factor - Moderate
29% of properties are at risk of severe flooding over the next 30 years
Flood Factor
Downtown Melrose has a moderate risk of flooding. 87 properties in Downtown Melrose are likely to be
severely affected
by flooding over the next 30 years. This represents 29% of all properties in Downtown Melrose. Flood risk is increasing slower than the national average.
7% of properties are at risk of wildfire over the next 30 years
Fire Factor
Downtown Melrose has a minor risk of wildfire. There are 40 properties in Downtown Melrose that have some risk of being affected by wildfire over the next 30 years. This represents 7% of all properties in Downtown Melrose.
100% of properties are at major
risk of a severe wind event over the next 30 years
Wind Factor
Downtown Melrose has a Major Wind Factor® risk based on the projected likelihood and speed of hurricane, tornado, or severe storm winds impacting it. Downtown Melrose is most at risk from hurricanes. 569 properties in Downtown Melrose have some risk of being in a severe wind event within the next 30 years.
Wind likelihood over time
If an exceedingly rare windstorm
(a 1-in-3,000 year storm event)
occurred today, it could cause wind gusts of up to 90 mph. In 30 years, an event of this same likelihood would show increased wind gusts of up to 99 mph.
100% of properties are at major
risk of heat over the next 30 years
Heat Factor
Downtown Melrose has a major risk from heat. This is due to
"feels like" temperatures
increasing, and because 100% of homes in Downtown Melrose have a Major Heat Factor®.
Downtown Melrose is expected to see a 128% increase in the number of days over 96ºF over the next 30 years. Downtown Melrose is expected to experience 8