Is Lynn, 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, Lynn has remained a Seller's Market.
Key Takeaway
Lynn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lynn, MA
How much do homes in Lynn, MA cost?
Median Sold Price
$558,000
$353/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Lynn have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Lynn was $558,000 in May 2024, up 8.4% from last year, and the median price per square foot was $353.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $260K | $280K | +7.7% |
| 2 Bedrooms | $388K | $401K | +3.4% |
| 3 Bedrooms | $500K | $550K | +10.0% |
| 4 Bedrooms | $581K | $639.8K | +10.1% |
| 5+ Bedrooms | $740K | $800K | +8.1% |
Summary: Lynn housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 7.7%, 2 bedroom homes increased by 3.4%, 3 bedroom homes increased by 10%, 4 bedroom homes increased by 10.1%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
| Nahant | $845K | $1.0M | +21.2% |
| Lynn | $514.8K | $558K | +8.4% |
| Swampscott | $675K | $730K | +8.1% |
| Peabody | $575K | $617K | +7.3% |
| Saugus | $600K | $610K | +1.7% |
Housing Supply in Lynn, MA
How many homes are available in Lynn, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 187 | 200 | +7.0% |
Summary: The Lynn real estate market had 200 homes for sale in May 2024, a 7.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 27 | 26 | -3.7% |
| 2 Bedrooms | 32 | 33 | +3.1% |
| 3 Bedrooms | 58 | 66 | +13.8% |
| 4 Bedrooms | 28 | 39 | +39.3% |
| 5+ Bedrooms | 42 | 36 | -14.3% |
Summary: The Lynn housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 3.7%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 13.8%, 4 bedroom homes increased by 39.3%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 54 | 69 | +27.8% |
Asking Price vs. Sold Price
18 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
47 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynn, you could pay more than the asking price. 68.1% of homes here sold above asking price last month.
Summary: A total of 69 homes were sold or pending in Lynn in May 2024, up by 27.8% month-over-month. Of the 69 sold homes, 26% were sold under asking, 6% were sold at asking, and 68% were sold over asking.
Days on Market for Lynn, MA
How long does it take to sell a home in Lynn, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 25 Days | 31 Days | +21.0% |
Summary: Homes in Lynn had an average of 31 days on market in May 2024, up by 21% compared to last year.
Breakdown of Home Sale Times
53 Homes Were Sold
Under 30 Days
14 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lynn are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 69 homes were sold in Lynn; 77% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
