Needham Home Prices & Values

$749,700 Zillow Home Value Index What's This?  
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The Zillow Home Value Index is the median Zestimate valuation for a given geographic area on a given day. Learn more

  • 5.1% 1-year change
  • 0.7% 1-year forecast

The median home value in Needham is $749,700. Needham home values have gone up 5.1% over the past year and Zillow predicts they will rise 0.7% within the next year. The median list price per square foot in Needham is $387, which is higher than the Boston Metro average of $224. The median price of homes currently listed in Needham is $1,199,900 while the median price of homes that sold is $780,500.

Foreclosures will be a factor impacting home values in the next several years. In Needham 0.6 homes are foreclosed (per 10,000). This is lower than the national value of 4.3

Mortgage delinquency is the first step in the foreclosure process. This is when a homeowner fails to make a mortgage payment. The percent of delinquent mortgages in Needham is 1.8%, which is lower than the national value of 6.9%. With U.S. home values having fallen by more than 20% nationally from their peak in 2007 until their trough in late 2011, many homeowners are now underwater on their mortgages, meaning they owe more than their home is worth. The percent of Needham homeowners underwater on their mortgage is 2.5%, which is lower than Boston Metro at 10.6%.

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Relative ZHVI
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Needham Market Overview

Data through Aug 31, 2014
  • $749,700 ZHVI
  • 0.7% 1-yr forecast What's This?  
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    The Zillow Home Value Forecast is Zillow's prediction of what the Zillow Home Value Index will be one year from now. Learn more

    (Aug 31, 2015)
  • $1,199,900 Median listing price
  • $780,500 Median sale price
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Needham Market Health

Data through Aug 31, 2014
  • 9.3/10 Very healthy What's This?  
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    The Market Health Index illustrates the current health of a region's housing market relative to other markets across the country. The Market Health Index is based on up to 10 metrics including those capturing the past and projected evolution of home values, the prevalence of foreclosures, foreclosure re-sales, negative equity and delinquency, as well as whether homes are currently selling faster or slower than in the past.

  • No data Average days on Zillow
  • 2.5% Homes with negative equity (17.0% US Avg) (Jun 30, 2014)
  • 1.8% Delinquent on mortgage (6.9% US Avg) (Jun 30, 2014)
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Nearby Cities

Name Median ZHVI Name Median ZHVI Name Median ZHVI
Weston $1,296,400 Wellesley $1,061,100 Town of Dover $918,400
Newton $819,600 Westwood $619,200 Natick $450,700
Waltham $443,500 Norwood $387,900 Dedham $384,500

Listings & Sales

Data through Aug 31, 2014
  • $387 Median list price / sq ft
  • $393 Median sale price / sq ft
  • 31.3% Listings with price cut
2.4%
Sold below listing
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Needham Rentals

Data through Aug 31, 2014
Zillow Rent Index What's This?
Close The Zillow Rent Index is the median Rent Zestimate valuation for a given geographic area on a given day. Learn more
$2,970 Needham
$2,116 Boston Metro
$1,328 United States
  • 3.8 Breakeven horizon What's This?  
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    The breakeven horizon is the number of years after which buying is more financially advantageous than renting. Learn more

    (Jun 30, 2014)
  • No data Rent list price
  • $1.92 Rent list price / sq ft
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