Is Methuen Town, 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, Methuen Town has remained a Seller's Market.
Key Takeaway
Methuen Town is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Methuen Town, MA
How much do homes in Methuen Town, MA cost?
Median Sold Price
$549,700
$309/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Methuen Town have sold for 6.9% more than they did a year ago.
Summary: The median home sold price in Methuen Town was $549,700 in May 2024, up 6.9% from last year, and the median price per square foot was $309.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $250K | +8.7% |
| 2 Bedrooms | $385K | $397K | +3.1% |
| 3 Bedrooms | $505K | $540K | +6.9% |
| 4 Bedrooms | $615K | $635K | +3.3% |
| 5+ Bedrooms | $685K | $700K | +2.2% |
Summary: Methuen Town housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Salem | $500K | $580K | +16.0% |
| Methuen | $512.7K | $549.7K | +7.2% |
| Methuen Town | $514K | $549.7K | +6.9% |
| Lawrence | $500K | $520K | +4.0% |
| North Andover | $687K | $712.5K | +3.7% |
Housing Supply in Methuen Town, MA
How many homes are available in Methuen Town, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 100 | 109 | +9.0% |
Summary: The Methuen Town real estate market had 109 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 25 | 30 | +20.0% |
| 3 Bedrooms | 40 | 48 | +20.0% |
| 4 Bedrooms | 26 | 23 | -11.5% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Methuen Town 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 increased by 20%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 37 | +23.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Methuen Town, you could pay more than the asking price. 70.3% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in Methuen Town in May 2024, up by 23.3% month-over-month. Of the 37 sold homes, 19% were sold under asking, 11% were sold at asking, and 70% were sold over asking.
Days on Market for Methuen Town, MA
How long does it take to sell a home in Methuen Town, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 19 Days | -48.5% |
Summary: Homes in Methuen Town had an average of 19 days on market in May 2024, down by 48.5% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Methuen Town are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 37 homes were sold in Methuen Town; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
