Is Lawrence, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Lawrence has remained a Seller's Market.
Housing Prices in Lawrence, MA
How much do homes in Lawrence, MA cost?
Median Sold Price
$500,000
$276/sqft
Based on all homes sold in the last 12 months.
The Median Sold Price hasn't changed since March 2023.
Summary: The median home sold price in Lawrence was $500,000 in March 2024, the same as last year, and the median price per square foot was $276.
Median Sold Price By Bedroom Count
# BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $170K | $180K | +5.9% |
2 Bedrooms | $307K | $275K | -10.4% |
3 Bedrooms | $450K | $450K | 0.0% |
4 Bedrooms | $520K | $479K | -7.9% |
5+ Bedrooms | $655K | $700K | +6.9% |
Summary: Lawrence housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 5.9%, 2 bedroom homes decreased by 10.4%, 3 bedroom homes did not change, 4 bedroom homes decreased by 7.9%, and 5+ bedroom homes increased by 6.9%.
Median Sold Price Compared To Nearby Cities
Methuen | $510.2K | $540.5K | +5.9% |
Methuen Town | $510.9K | $540.5K | +5.8% |
North Andover | $678.3K | $710K | +4.7% |
Andover | $853.8K | $869K | +1.8% |
Lawrence | $500K | $500K | 0.0% |
Housing Supply in Lawrence, MA
How many homes are available in Lawrence, MA?
Number of Homes For Sale
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
49 | 56 | +14.3% |
Summary: The Lawrence real estate market had 56 homes for sale in March 2024, a 14.3% increase compared to February 2024.
Homes For Sale By Bedroom Count
# BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 0 | 3 | +100.0% |
2 Bedrooms | 5 | 5 | 0.0% |
3 Bedrooms | 15 | 21 | +40.0% |
4 Bedrooms | 5 | 6 | +20.0% |
5+ Bedrooms | 24 | 21 | -12.5% |
Summary: The Lawrence housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes remained the same, 3 bedroom homes increased by 40%, 4 bedroom homes increased by 20%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
Feb 2024 | Mar 2024 | CHANGE |
---|---|---|
11 | 12 | +9.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
8 Homes Were Sold
Over Asking
Summary: A total of 12 homes were sold or pending in Lawrence in March 2024, up by 9.1% month-over-month. Of the 12 sold homes, 25% were sold under asking, 8% 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
Mar 2023 | Mar 2024 | CHANGE |
---|---|---|
28 Days | 42 Days | +49.1% |
Summary: Homes in Lawrence had an average of 42 days on market in Mar 2024, up by 49.1% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Summary: During March 2024, 12 homes were sold in Lawrence; 58% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 17% of homes were sold over 90 days.