Is Lunenburg, 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, Lunenburg has remained a Seller's Market.
Key Takeaway
Lunenburg is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lunenburg, MA
How much do homes in Lunenburg, MA cost?
Median Sold Price
$525,000
$278/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lunenburg have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Lunenburg was $525,000 in May 2024, up 11.1% from last year, and the median price per square foot was $278.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $332.5K | $307.5K | -7.5% |
| 2 Bedrooms | $335K | $415.5K | +24.0% |
| 3 Bedrooms | $472.5K | $499.9K | +5.8% |
| 4 Bedrooms | $615K | $715K | +16.3% |
| 5+ Bedrooms | $624.5K | $820K | +31.3% |
Summary: Lunenburg housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 7.5%, 2 bedroom homes increased by 24%, 3 bedroom homes increased by 5.8%, 4 bedroom homes increased by 16.3%, and 5+ bedroom homes increased by 31.3%.
Median Sold Price Compared To Nearby Cities
| Lunenburg | $472.5K | $525K | +11.1% |
| Fitchburg | $351.2K | $390K | +11.0% |
| Leominster | $392.3K | $420K | +7.1% |
| Shirley | $460.5K | $477.4K | +3.7% |
| Townsend | $463.5K | $452.5K | -2.4% |
Housing Supply in Lunenburg, MA
How many homes are available in Lunenburg, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 46 | 45 | -2.2% |
Summary: The Lunenburg real estate market had 45 homes for sale in May 2024, a 2.2% decrease compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 4 | 4 | 0.0% |
| 3 Bedrooms | 20 | 19 | -5.0% |
| 4 Bedrooms | 17 | 16 | -5.9% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Lunenburg housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes decreased by 5%, 4 bedroom homes decreased by 5.9%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 15 | +7.1% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lunenburg, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 15 homes were sold or pending in Lunenburg in May 2024, up by 7.1% month-over-month. Of the 15 sold homes, 33% were sold under asking, 0% were sold at asking, and 67% were sold over asking.
Days on Market for Lunenburg, MA
How long does it take to sell a home in Lunenburg, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 17 Days | 26 Days | +47.9% |
Summary: Homes in Lunenburg had an average of 26 days on market in May 2024, up by 47.9% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lunenburg are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 15 homes were sold in Lunenburg; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
