Is Lynn, 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, 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
$550,000
$347/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Lynn have sold for 6.8% more than they did a year ago.
Summary: The median home sold price in Lynn was $550,000 in March 2024, up 6.8% from last year, and the median price per square foot was $347.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $253K | $252K | -0.4% |
| 2 Bedrooms | $410.5K | $380K | -7.4% |
| 3 Bedrooms | $500K | $540K | +8.0% |
| 4 Bedrooms | $580K | $640K | +10.3% |
| 5+ Bedrooms | $745K | $797.5K | +7.0% |
Summary: Lynn housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 0.4%, 2 bedroom homes decreased by 7.4%, 3 bedroom homes increased by 8%, 4 bedroom homes increased by 10.3%, and 5+ bedroom homes increased by 7%.
Median Sold Price Compared To Nearby Cities
| Lynn | $515K | $550K | +6.8% |
| Peabody | $575K | $607.8K | +5.7% |
| Swampscott | $670K | $690K | +3.0% |
| Saugus | $602K | $600K | -0.3% |
| Nahant | $925K | $912.5K | -1.4% |
Housing Supply in Lynn, MA
How many homes are available in Lynn, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 132 | 146 | +10.6% |
Summary: The Lynn real estate market had 146 homes for sale in March 2024, a 10.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 20 | +33.3% |
| 2 Bedrooms | 28 | 26 | -7.1% |
| 3 Bedrooms | 35 | 47 | +34.3% |
| 4 Bedrooms | 18 | 22 | +22.2% |
| 5+ Bedrooms | 36 | 31 | -13.9% |
Summary: The Lynn housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 33.3%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes increased by 34.3%, 4 bedroom homes increased by 22.2%, and 5+ bedroom homes decreased by 13.9%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 34 | 34 | 0.0% |
Asking Price vs. Sold Price
9 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
23 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynn, you could pay more than the asking price. 67.6% of homes here sold above asking price last month.
Summary: A total of 34 homes were sold or pending in Lynn in March 2024, the same as the previous month. Of the 34 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
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 35 Days | 34 Days | -1.8% |
Summary: Homes in Lynn had an average of 34 days on market in Mar 2024, down by 1.8% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
7 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 March 2024, 34 homes were sold in Lynn; 74% of homes were sold within 30 days, 21% of homes were sold within 30 to 90 days, and 6% of homes were sold over 90 days.
