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Featured local agent — Melrose, MA
Sarah Mitchell
Compass Real Estate · Melrose, MA
“Your trusted relocation specialist since 2009. 350+ homes sold. Zero-pressure, data-first approach.”
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Melrose, MA Housing Market & Real Estate
Housing market overview · Updated monthly ·
$877,500median sale price
How is the Melrose, MA housing market right now?
The median home sale price in Melrose, MA is $877,500, up 6.7% year-over-year. Homes sell in an average of 11 days with 45 active listings. The market is currently a strong seller's market. (Source: Redfin monthly MLS data, as of May 2026 — the most recent Redfin release; Redfin publishes each month's data on a ~6-week lag.)
Is Melrose a buyer's or seller's market?
Melrose, MA is currently a strong seller's market, based on 1.7 months of supply and homes selling in about 11 days. How we determine this →
Homes sold
26
Last 12 weeks
Days on market
11
Fast-moving
Active listings
45
1.7 months supply
Sale-to-list
107.6%
Above asking
What does the Melrose housing market data show?
| Metric | Value |
|---|---|
| Median sale price | $877,500 |
| Median list price | $875,000 |
| Year-over-year price change | +6.7% |
| Average days on market | 11 days |
| Active inventory | 45 listings |
| Months of supply | 1.7 months |
| Sale-to-list price ratio | 107.6% |
| Median price per sq ft | $489/sq ft |
| Homes sold (latest month) | 26 |
| New listings (latest month) | 41 |
| Listings with a price cut | 26.7% |
| Market condition | Strong seller's market |
Source: Redfin · Updated monthly
How much do homes cost in Melrose by property type?
How the Melrose, MA market breaks down across single-family homes, condos, and townhouses.
| Property type | Median price | Price / sq ft | Homes sold | Days on market |
|---|---|---|---|---|
| Single-family | $1.03M | $532/sq ft | 19 | 10 days |
| Condo / Co-op | $405,000 | $749/sq ft | 1 | 7 days |
| Townhouse | $730,000 | $449/sq ft | 3 | 19 days |
Source: Redfin · Updated monthly
The Melrose housing market is currently classified as a strong seller's market with a median sale price of $877,500. Prices have risen 6.7% compared to last year, with homes spending an average of 11 days on market, indicating 1.7 months of inventory.With limited inventory, homes sell quickly and buyers should be prepared to act decisively and competitively to secure a property.The price-to-income ratio of 7.4x provides context for how home values compare to local earning capacity.
Homes for sale in Melrose
There are currently 45 homes listed for sale in Melrose, Massachusetts. The median listing price is $875K.
Active listings
45
Homes on market
Median list price
$875K
Avg. days on market
11
Days until sale
New this week
41
Newly listed
Who lives in Melrose?
Population
29,488
Median income
$126,854/yr
Median age
44.3 years
Owner-occupied
67.8%
College grads
62.0%
Avg commute
35.7 min
Source: U.S. Census Bureau ACS
What are homes worth in Melrose?
Zillow home value
$943,928
Zillow rent index
$3,026/mo
Price-to-rent ratio
26.0x
Price-to-income
7.4x
Source: Zillow Research
What is it like to live in Melrose?
Melrose is a community of approximately 29K residents with a median age of 44.3 years.The median household income is $126,854, which reflects a relatively affluent area with strong earning potential. 62.0% of residents hold a bachelor's degree or higher, indicating a highly educated population.
Homeownership rates are at 67.8%, reflecting strong community stability and long-term resident commitment. The average commute time is 35.7 minutes, which suggests a more suburban or rural location for those willing to commute longer distances.Overall, Melrose offers a balanced lifestyle with accessible home values relative to local income levels.
Which public schools serve Melrose?
8 schools tracked · 3,892 students
The largest public schools serving Melrose, MA by enrollment, drawn from the National Center for Education Statistics. School quality is a commonly cited factor in home-buying decisions — these are the campuses families in this area are most likely to encounter.
Melrose High
Grades 9-12 · 959 students
Melrose Middle
Grades 6-8 · 910 students
Lincoln
Grades K-5 · 412 students
Roosevelt
Grades K-5 · 403 students
Winthrop
Grades K-5 · 401 students
Herbert Clark Hoover
Grades K-5 · 283 students
Horace Mann
Grades K-5 · 266 students
Early Childhood Center
Grades PK-K · 258 students
Source: National Center for Education Statistics, Common Core of Data directory. Updated annually. Ratings and test scores are not currently displayed.
Which cities are near Melrose, MA?
Want a head-to-head view? Compare Melrose side-by-side with any other U.S. city using our market-comparison tool.
Is Melrose a good real estate investment market?
For investors evaluating Melrose, the price-to-rent ratio of 26.0x indicates higher purchase prices relative to rental income, typical of appreciation-focused markets. The market has appreciated 6.7% year-over-year, reflecting ongoing demand and value growth.Use our rent vs. buy calculator to analyze whether owning or renting makes more financial sense based on Melrose's current market conditions and your specific situation. Estimate your monthly payment with the mortgage calculator using Melrose's median home price.
Frequently asked questions
What is the average home price in Melrose?
The median home sale price in Melrose is $877,500, up 6.7% from last year.
How long do homes stay on market in Melrose?
Homes typically spend 11 days on market before going under contract.
What is the median income in Melrose?
The median household income is $126,854 per year.
Is Melrose a buyer's or seller's market?
With 1.7 months of supply, Melrose is currently a strong seller's market.
What is the Zillow home value estimate for Melrose?
The Zillow Home Value Index (ZHVI) for Melrose is $943,928, representing the typical home value in the area.
What is the median condo price in Melrose?
The median condo/co-op sale price in Melrose, MA is $405,000, compared to $1.03M for a single-family home, based on the latest Redfin data.
How much does a single-family home cost in Melrose?
The median single-family home price in Melrose, MA is $1.03M (about $532 per square foot).
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