Is Lexington, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Lexington has remained a Seller's Market.
Key Takeaway
Lexington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington, MA
How much do homes in Lexington, MA cost?
Median Sold Price
$1,508,000
$529/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lexington have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Lexington was $1,508,000 in May 2024, up 2.6% from last year, and the median price per square foot was $529.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395K | $411.9K | +4.3% |
| 2 Bedrooms | $725K | $760K | +4.8% |
| 3 Bedrooms | $980K | $1.1M | +16.3% |
| 4 Bedrooms | $1.5M | $1.4M | -5.0% |
| 5+ Bedrooms | $2.3M | $2.3M | -0.5% |
Summary: Lexington housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 4.8%, 3 bedroom homes increased by 16.3%, 4 bedroom homes decreased by 5%, and 5+ bedroom homes decreased by 0.5%.
Median Sold Price Compared To Nearby Cities
| Winchester | $1.3M | $1.3M | +6.0% |
| Belmont | $1.2M | $1.3M | +5.7% |
| Arlington | $975K | $1.0M | +4.9% |
| Lexington | $1.4M | $1.5M | +2.6% |
Housing Supply in Lexington, MA
How many homes are available in Lexington, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 97 | 125 | +28.9% |
Summary: The Lexington real estate market had 125 homes for sale in May 2024, a 28.9% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 1 | 8 | +700.0% |
| 3 Bedrooms | 20 | 23 | +15.0% |
| 4 Bedrooms | 21 | 33 | +57.1% |
| 5+ Bedrooms | 53 | 60 | +13.2% |
Summary: The Lexington housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes increased by 700%, 3 bedroom homes increased by 15%, 4 bedroom homes increased by 57.1%, and 5+ bedroom homes increased by 13.2%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 27 | -10.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington, you could pay more than the asking price. 63% of homes here sold above asking price last month.
Summary: A total of 27 homes were sold or pending in Lexington in May 2024, down by 10.0% month-over-month. Of the 27 sold homes, 26% were sold under asking, 11% were sold at asking, and 63% were sold over asking.
Days on Market for Lexington, MA
How long does it take to sell a home in Lexington, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 30 Days | 36 Days | +22.2% |
Summary: Homes in Lexington had an average of 36 days on market in May 2024, up by 22.2% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 27 homes were sold in Lexington; 74% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 11% of homes were sold over 90 days.
