Greater Boston Suburbs
Real Estate Market Report
Market Overview
Prices in the Boston suburbs held steady this fall. What changed is how much choice buyers have.
Across Needham, Wellesley, Newton, Medfield, and Dover, 1,261 single-family homes sold over the past twelve months. The blended median sale price is $1,825,000, the median home sold in 20 days, and the typical sale closed at 98.5% of its original asking price. All three figures are essentially unchanged from our September report, even as mortgage rates climbed to their highest level since late 2023.
Inventory tells a different story. On November 5, there were 266 single-family homes for sale across the five towns, up from 239 on the same date last year. Most of that increase sits in two places: homes priced between $1M and $1.5M, and homes priced above $3M. For buyers, that means more options than a year ago. For sellers, it means the homes you are competing against are more numerous, and pricing and presentation carry more weight.
This report uses median, not average, sale price as the primary benchmark. A small number of high-end sales pull averages upward in several of these towns, and the median gives a truer read of what a typical buyer is paying.
Town-by-Town Comparison
Single-family homes, sold status, trailing twelve months through October 2026. Sourced from MLS PIN.
| Town | Units Sold | Median Sale Price | Median Days on Market | Median Sale-to-List |
|---|---|---|---|---|
| Wellesley | 271 | $2,350,000 | 16 | 98.4% |
| Dover | 75 | $2,010,000 | 37 | 96.6% |
| Newton | 532 | $1,817,500 | 21 | 98.4% |
| Needham | 269 | $1,765,000 | 21 | 98.5% |
| Medfield | 114 | $1,150,000 | 20 | 100.0% |
Wellesley continues to pair the highest median price with the fastest pace, at 16 days. Newton remains the volume center of the region, with nearly twice the sales of any other town. Medfield is the only market where the typical home sells at full asking price, and more than half of its sales closed above the original list price. Dover remains the most deliberate market of the five, with a 37-day median and most homes selling below their original price, which reflects its higher entry point and smaller buyer pool.
Sale-to-list compares the final sale price to the original list price.
Inventory and Months of Supply
Sales tell you what already happened. Inventory tells you what buyers are choosing from right now. The table below compares active single-family listings across all five towns on November 5, 2026, with the same date in 2025, and shows how long current inventory would last at the past year’s sales pace.
| Price Band | Active Nov. 2025 | Active Nov. 2026 | Change | Months of Supply |
|---|---|---|---|---|
| Under $1.0M | 20 | 16 | −20% | 1.7 |
| $1.0M – $1.5M | 29 | 45 | +55% | 1.7 |
| $1.5M – $2.0M | 33 | 35 | +6% | 1.5 |
| $2.0M – $2.5M | 32 | 31 | −3% | 2.0 |
| $2.5M – $3.0M | 32 | 38 | +19% | 2.9 |
| $3.0M+ | 93 | 101 | +9% | 5.9 |
| All five towns | 239 | 266 | +11% | 2.5 |
Two patterns stand out. First, the $1M to $1.5M band added the most listings of any range, up 55% from a year ago. Even so, it holds less than two months of supply, so well-priced homes there are still selling quickly. More choice has not yet meant less competition.
Second, supply rises steadily with price. Below $2M, the market holds less than two months of inventory. Above $3M, it holds close to six. At that level, buyers can compare, wait, and negotiate, and sellers need a plan built for a longer timeline.
Months of supply equals active listings divided by the average monthly sales over the trailing twelve months. Active listings are banded by list price and sales by sale price, so band-level figures are approximate. Source: MLS PIN On-Market Snapshot, single-family.
Needham Spotlight
Needham recorded 269 single-family sales over the trailing twelve months, with a median sale price of $1,765,000. How the market behaves depends heavily on price band.
| Price Band | Sales | Share of Market | Median DOM | Median Sale-to-List |
|---|---|---|---|---|
| Under $1.0M | 18 | 6.7% | 37 | 94.0% |
| $1.0M – $1.5M | 72 | 26.8% | 15 | 101.3% |
| $1.5M – $2.0M | 66 | 24.5% | 15.5 | 101.6% |
| $2.0M – $3.0M | 87 | 32.3% | 36 | 97.8% |
| $3.0M+ | 26 | 9.7% | 59.5 | 95.7% |
Just over half of Needham’s sales fell between $1M and $2M, and that range continues to move fastest, with homes selling in about two weeks and above asking. Above $2M, the timeline more than doubles. Above $3M, the typical home took about two months to sell and closed roughly 4% below its original price.
Current inventory adds context. Needham had 54 single-family homes for sale on November 5, compared with 48 a year earlier. The biggest shift is in the $1M to $1.5M range, where active listings tripled from 4 to 12. Buyers in that range now have real options, though at the past year’s sales pace that is still only about two months of supply. Above $3M, Needham holds roughly six and a half months of supply, the deepest of any band in town.
Three Signals
1. Prices held while rates rose
Median prices, days on market, and sale-to-list ratios were all essentially flat from September, even with rates near their highest level since late 2023. So far, demand in these towns has held up despite the higher cost of borrowing.
2. Buyers under $1.5M have more choice
Listings between $1M and $1.5M are up 55% from a year ago, and Needham’s inventory in that range tripled. Supply is still under two months, so this is a more balanced market, not a slow one. Buyers have more room to compare before they commit.
3. The top of the market rewards patience and pricing
Homes above $3M hold nearly six months of supply across the five towns, and 29% of sales in that range took more than 90 days. Sellers who price to the market from the first day avoid the reductions that follow a long time on market.
Rate & Economic Context
Rates moved higher through early fall. The national average reached 7.28% at the start of October, its highest level since November 2023, before easing slightly. A year ago, the national 30-year average was 6.17%, so today’s buyers are borrowing at roughly one full percentage point more.
On a $1.5M purchase with 20% down, that difference adds about $850 a month to principal and interest. That added cost makes buyers more careful about price, which fits what the data shows: well-priced homes still move quickly, while homes priced above the market sit longer.
Buyer and Seller Guidance
For Sellers in the $1M–$2M range
This is still the fastest part of the market, but you have more competition than a year ago, especially below $1.5M. Buyers are touring more homes before they decide. Price to the most recent sales, not the strongest one, and have the house fully prepared before the first weekend. The first two weeks are when most of these homes sell.
For Sellers above $2.5M
Supply here is deep, and buyers know it. A longer timeline is normal and not a sign that something is wrong. What shortens it is an accurate starting price and marketing aimed at a smaller, more selective group of buyers. Discuss the plan for days 30, 60, and 90 before you list, not after.
For Buyers
You have more choice this fall than last, particularly between $1M and $1.5M and above $3M. Use it to compare carefully, but do not assume the market has slowed across the board. Well-prepared homes under $2M still sell in about two weeks. Get fully underwritten before you tour, so you can act when the right house appears.
Thinking through your next move in Needham or the Boston suburbs? Let’s talk about what this market means for your specific situation.
Text HOME to 781-424-3527 to get started on your real estate goals.
Nancy Moore · Gibson Sotheby's International Realty
Vice President & Associate Broker — Needham & Boston Suburbs
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