Is Lynn, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2022
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
How much do homes in Lynn, MA cost?
Median Sold Price
$530,000
$335/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2022
Key Takeaway
Homes in Lynn have sold for 3.9% more than they did a year ago.
Summary: The median home sold price in Lynn was $530,000 in October 2023, up 3.9% from last year, and the median price per square foot was $335.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2022 | Oct 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $250K | $265K | +6.0% |
| 2 Bedrooms | $415K | $384.9K | -7.3% |
| 3 Bedrooms | $500K | $520K | +4.0% |
| 4 Bedrooms | $573K | $615K | +7.3% |
| 5+ Bedrooms | $735K | $760K | +3.4% |
Summary: Lynn housing prices by bedroom type for October 2023 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes decreased by 7.3%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Swampscott | $615K | $670K | +8.9% |
| Lynn | $510.2K | $530K | +3.9% |
| Peabody | $576.9K | $585K | +1.4% |
| Saugus | $606.5K | $600K | -1.1% |
Housing Supply
How many homes are available in Lynn, MA?
Number of Homes For Sale
| Sep 2023 | Oct 2023 | CHANGE |
|---|---|---|
| 202 | 200 | -1.0% |
Summary: The Lynn real estate market had 200 homes for sale in October 2023, a 1.0% decrease compared to September 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2023 | Oct 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 16 | 16 | 0.0% |
| 2 Bedrooms | 35 | 35 | 0.0% |
| 3 Bedrooms | 66 | 72 | +9.1% |
| 4 Bedrooms | 39 | 34 | -12.8% |
| 5+ Bedrooms | 46 | 43 | -6.5% |
Summary: The Lynn housing inventory by bedroom type for October 2023 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 12.8%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
| Sep 2023 | Oct 2023 | CHANGE |
|---|---|---|
| 51 | 66 | +29.4% |
Asking Price vs. Sold Price
16 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
46 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynn, you could pay more than the asking price. 69.7% of homes here sold above asking price last month.
Summary: A total of 66 homes were sold or pending in Lynn in October 2023, up by 29.4% month-over-month. Of the 66 sold homes, 24% were sold under asking, 6% were sold at asking, and 70% were sold over asking.
Days on Market
How long does it take to sell a home in Lynn, MA?
Average Sale Time
| Oct 2022 | Oct 2023 | CHANGE |
|---|---|---|
| 29 Days | 25 Days | -13.3% |
Summary: Homes in Lynn had an average of 25 days on market in Oct 2023, down by 13.3% compared to last year.
Breakdown of Home Sale Times
51 Homes Were Sold
Under 30 Days
13 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 October 2023, 66 homes were sold in Lynn; 77% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 3% of homes were sold over 90 days.
