$8,016 Closing Credit*
$675,000
1,838 SqFt
5 Beds
•2 Full Baths
#73298687, Homegrown Realty Team, Listing Office: Citylight Homes LLC
Is Lawrence, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since September 2023
Since last year, Lawrence has remained a Seller's Market.
Key Takeaway
Lawrence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lawrence, MA
How much do homes in Lawrence, MA cost?
Median Sold Price
$540,000
$288/sqft
Based on all homes sold in the last 12 months.
Difference Since September 2023
+$56,500(+11.7%)
Key Takeaway
Homes in Lawrence have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Lawrence was $540,000 in September 2024, up 11.7% from last year, and the median price per square foot was $288.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $180K | $190K | +5.6% |
| 2 Bedrooms | $295K | $275K | -6.8% |
| 3 Bedrooms | $450K | $480K | +6.7% |
| 4 Bedrooms | $479K | $497.5K | +3.9% |
| 5+ Bedrooms | $675K | $740K | +9.6% |
Summary: Lawrence housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.6%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 6.7%, 4 bedroom homes increased by 3.9%, and 5+ bedroom homes increased by 9.6%.
Median Sold Price Compared To Nearby Cities
| Lawrence | $483.5K | $540K | +11.7% |
| Methuen Town | $522.5K | $560K | +7.2% |
| Methuen | $522.5K | $560K | +7.2% |
| North Andover | $679.1K | $706.2K | +4.0% |
| Andover | $850K | $881.2K | +3.7% |
Housing Supply in Lawrence, MA
How many homes are available in Lawrence, MA?
Number of Homes For Sale
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 91 | 84 | -7.7% |
Summary: The Lawrence real estate market had 84 homes for sale in September 2024, a 7.7% decrease compared to August 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 17 | 15 | -11.8% |
| 3 Bedrooms | 29 | 29 | 0.0% |
| 4 Bedrooms | 15 | 12 | -20.0% |
| 5+ Bedrooms | 29 | 26 | -10.3% |
Summary: The Lawrence housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 11.8%, 3 bedroom homes remained the same, 4 bedroom homes decreased by 20%, and 5+ bedroom homes decreased by 10.3%.
Number of Homes Sold
| Aug 2024 | Sep 2024 | CHANGE |
|---|---|---|
| 29 | 24 | -17.2% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lawrence, you could pay more than the asking price. 66.7% of homes here sold above asking price last month.
Summary: A total of 24 homes were sold or pending in Lawrence in September 2024, down by 17.2% month-over-month. Of the 24 sold homes, 21% were sold under asking, 13% were sold at asking, and 67% were sold over asking.
Days on Market for Lawrence, MA
How long does it take to sell a home in Lawrence, MA?
Average Sale Time
| Sep 2023 | Sep 2024 | CHANGE |
|---|---|---|
| 17 Days | 23 Days | +35.3% |
Summary: Homes in Lawrence had an average of 23 days on market in Sep 2024, up by 35.3% compared to last year.
Breakdown of Home Sale Times
16 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lawrence are selling fast, if you're buying plan to act quickly.
Summary: During September 2024, 24 homes were sold in Lawrence; 67% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
