ZIP 02494 Housing Market & Real Estate Update (Needham Heights/Needham, MA) — Feb 22, 2026
02494 – February 22, 2026 – ZIP 02494 (Needham Heights/Needham, MA) remains competitive: pricey, low supply, and quick sales heading into spring.
ZIP 02494 (Needham Heights/Needham, Massachusetts) still reads as a high-demand, low-supply market. Recent ZIP-level trend pages show elevated prices and quick decision cycles, while town discussions on new-build size guidelines could influence future single-family construction.
Top takeaways
- Latest monthly ZIP read shows prices remain high and homes typically move in roughly three weeks.
- Inventory is limited, so well-presented homes can still attract strong competition.
- Needham is evaluating possible limits on the scale of new single-family builds on many lots.
- Mortgage rates are hovering near 6%, a key swing factor for spring affordability.
Market snapshot (latest available)
Sales pace & pricing: Redfin’s 02494 housing market page shows a January 2026 median sale price around $1.432M, up year-over-year, with about 22 days on market on average.
Supply & asking: Realtor.com’s ZIP dashboard shows roughly 21 homes for sale and a median for-sale price around $1.599M, with average days on market near 30. (Methodologies differ, but both point to a market that’s still moving.)
Rates: Freddie Mac’s PMMS has the average 30-year fixed rate a little above 6% in February 2026, which can materially affect buying power at 02494 price points.
Local development & zoning watch
Needham’s Planning Board has been hearing work related to ‘large house’/teardown-rebuild patterns. Local reporting in late January said the town is moving closer to guidelines that would reduce allowable new-home size on many small-to-medium single-family lots (covering footprint, livable space, height, and setbacks). If advanced to Town Meeting, this could gradually shift new construction toward smaller massing in established neighborhoods.
The town is also posting Planning Board agenda packets for upcoming meetings (including late-February materials), which is the best place to track new filings and hearing schedules.
What’s for sale nearby (no addresses)
- Single-family: Renovated colonials and expanded capes tend to move fastest; dated homes can trade on location and lot value.
- Condos/townhomes: When available, they’re a common ‘right-size’ option for downsizers and an on-ramp for buyers priced out of single-family.
- Rentals: Realtor.com’s ZIP view shows a median rent around $3,100, with limited availability relative to demand.
Sources
- Redfin ZIP 02494 housing market trends
- Realtor.com ZIP 02494 market and rental dashboard
- Needham Observer reporting on proposed single-family construction guidelines
- Town of Needham Planning Board packet archive
- Freddie Mac PMMS weekly mortgage rate data
- ZIP code reference for 02494 (Needham Heights, Norfolk County, MA)
- Zillow and Redfin search pages for active listings in 02494
What are you seeing right now in 02494—more listings coming on, more price cuts, or still multiple-offer weekends?