Is Lexington, 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, Lexington has remained a Seller's Market.
Key Takeaway
Lexington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington, MA
How much do homes in Lexington, MA cost?
Median Sold Price
$1,503,600
$518/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lexington have sold for 3.6% more than they did a year ago.
Summary: The median home sold price in Lexington was $1,503,600 in March 2024, up 3.6% from last year, and the median price per square foot was $518.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $400K | $344.4K | -13.9% |
| 2 Bedrooms | $690K | $772.5K | +12.0% |
| 3 Bedrooms | $1.0M | $1.0M | +4.3% |
| 4 Bedrooms | $1.5M | $1.4M | -5.2% |
| 5+ Bedrooms | $2.2M | $2.3M | +2.6% |
Summary: Lexington housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 13.9%, 2 bedroom homes increased by 12%, 3 bedroom homes increased by 4.3%, 4 bedroom homes decreased by 5.2%, and 5+ bedroom homes increased by 2.6%.
Median Sold Price Compared To Nearby Cities
| Winchester | $1.2M | $1.3M | +4.7% |
| Lexington | $1.4M | $1.5M | +3.6% |
| Arlington | $976.5K | $1.0M | +3.4% |
| Belmont | $1.2M | $1.2M | +1.6% |
Housing Supply in Lexington, MA
How many homes are available in Lexington, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 74 | 77 | +4.1% |
Summary: The Lexington real estate market had 77 homes for sale in March 2024, a 4.1% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 5 | 4 | -20.0% |
| 3 Bedrooms | 10 | 16 | +60.0% |
| 4 Bedrooms | 17 | 15 | -11.8% |
| 5+ Bedrooms | 41 | 41 | 0.0% |
Summary: The Lexington housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 20%, 3 bedroom homes increased by 60%, 4 bedroom homes decreased by 11.8%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 19 | 17 | -10.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington, you could pay more than the asking price. 58.8% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Lexington in March 2024, down by 10.5% month-over-month. Of the 17 sold homes, 29% were sold under asking, 12% were sold at asking, and 59% were sold over asking.
Days on Market for Lexington, MA
How long does it take to sell a home in Lexington, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 61 Days | 43 Days | -29.2% |
Summary: Homes in Lexington had an average of 43 days on market in Mar 2024, down by 29.2% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
4 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 17 homes were sold in Lexington; 65% of homes were sold within 30 days, 12% of homes were sold within 30 to 90 days, and 24% of homes were sold over 90 days.
