Massachusetts Home Buyer Guide

The real estate markets in Stoneham, Massachusetts, and Wakefield, Massachusetts, were competitive during 2024's first five months, but more so in Stoneham.

According to data compiled by the Massachusetts Association of Realtors (MAR), both Middlesex County towns experienced significant competition for single-family homes. Home buyers paid, on average, significantly more than the original list price from January through May, especially in Stoneham (109 percent).

Stoneham and Wakefield saw double-digit median house price increases. The median price of a single-family house in Wakefield was higher and increased more than in Stoneham. House sales were flat in Stoneham but declined nearly 15 percent in Wakefield.

Wakefield condominium prices soared from January through May compared to the same timeframe in 2024. Stoneham also had a healthy increase in median condo prices.

May condominium sales increased by double digits in Stoneham year over year. Wakefield saw a significant decline in condo sales.

The following MAR data compares Stoneham and Wakefield for the January through May timeframe in 2024 and 2023 and May 2024 and 2023.

Year to Date Data Comparison (January through May)

Single-Family Properties

• Closed Sales
  • Stoneham: 38 in both 2023 and 2024 (no change)
  • Wakefield: 47 in 2024, down from 55 in 2023 (-14.5 percent)
    
    
• Median Sales Price
  • Stoneham: $790,000 in 2024, up from $717,500 in 2023 (+10.1 percent)
  • Wakefield: $820,000 in 2024, up from $710,000 in 2023 (+15.5 percent)
    
    
• New Listings
  • Stoneham: 73 in 2024, up from 49 in 2023 (+49.0 percent)
  • Wakefield: 72 in 2024, down from 86 in 2023 (-16.3 percent)
    
    
• Percent of Original List Price Received (On Average)
  • Stoneham: 108.7 percent in 2024, up from 102.5 percent in 2023 (+6.0 percent)
  • Wakefield: 104.8 percent in 2024, up from 103.4 percent in 2023 (+1.4 percent)
    
    

Condominium Properties

• Closed Sales
  • Stoneham: 21 in 2024, up from 19 in 2023 (+10.5 percent)
  • Wakefield: 16 in 2024, down from 23 in 2023 (-30.4 percent)
    
    
• Median Sales Price
  • Stoneham: $416,000 in 2024, up from $381,000 in 2023 (+9.2 percent)
  • Wakefield: $559,500 in 2024, up from $451,000 in 2023 (+24.1 percent)
    
    
• New Listings
  • Stoneham: 31 in 2024, up from 26 in 2023 (+19.2 percent)
  • Wakefield: 36 in both 2023 and 2024 (no change)
    
    
• Percent of Original List Price Received (On Average)
  • Stoneham: 102.2 percent in 2024, up from 101.4 percent in 2023 (+0.8 percent)
  • Wakefield: 102.4 percent in 2024, up from 104.0 percent in 2023 (+1.5 percent)

May Data Comparison

Single-Family Properties

• Closed Sales
  • Stoneham: 11 in May 2024, up from 9 in May 2023 (+22.2 percent)
  • Wakefield: 15 in May 2024, down from 19 in May 2023 (-21.1 percent)
    
    
• Median Sales Price
  • Stoneham: $790,000 in May 2024, down from $900,000 in May 2023 (-12.2 percent)
  • Wakefield: $851,000 in May 2024, up from $800,000 in May 2023 (+6.4 percent)
    
    
• Percent of Original List Price Received (On Average)
  • Stoneham: 108.6 percent in May 2024, up from 102.3 percent in May 2023 (+6.2 percent)
  • Wakefield: 106.7 percent in May 2024, down from 109.8 percent in May 2023 (-2.8 percent)
    
    
• Inventory of Homes for Sale
  • Stoneham: 15 in May 2024, up from 12 in May 2023 (+25.0 percent)
  • Wakefield: 10 in May 2024, down from 17 in May 2023 (-41.2 percent)

Condominium Properties

• Closed Sales
  • Stoneham: 6 in May 2024, up from 5 in May 2023 (+20.0 percent)
  • Wakefield: 3 in May 2024, down from 7 in May 2023 (-57.1 percent)
    
    
• Median Sales Price
  • Stoneham: $400,000 in May 2024, down from $762,000 in May 2023 (-47.5 percent)
  • Wakefield: $615,000 in May 2024, up from $427,500 in May 2023 (+43.9 percent)
    
    
• Percent of Original List Price Received (On Average)
  • Stoneham: 99.7 percent in May 2024, down from 104.8 percent in May 2023 (-4.9 percent)
  • Wakefield: 101.4 percent in May 2024, down from 104.4 percent in May 2023 (-2.9 percent)
    
    
• Inventory of Homes for Sale
  • Stoneham: 5 in May 2024, down from 8 in May 2023 (-37.5 percent)
  • Wakefield: 6 in May 2024, down from 7 in May 2023 (-14.3 percent)