Is Lynn, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lynn is a seller's market

Buyer's
Market

Difference Since September 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

$565,055

$356/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$35,055(+6.6%)

Key Takeaway

Homes in Lynn have sold for 6.6% more than they did a year ago.

Summary: The median home sold price in Lynn was $565,055 in September 2024, up 6.6% from last year, and the median price per square foot was $356.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $265.5K$295K
+11.1%
2 $388K$410K
+5.7%
3 $510K$570K
+11.8%
4 $610K$640K
+4.9%
5+ $760K$817.5K
+7.6%

Summary: Lynn housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes increased by 11.1%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 11.8%, 4 bedroom homes increased by 4.9%, and 5+ bedroom homes increased by 7.6%.

Median Sold Price Compared To Nearby Cities

Swampscott
+13.1%
Peabody
+10.2%
Lynn
+6.6%
Saugus
+4.2%

Housing Supply in Lynn, MA

How many homes are available in Lynn, MA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
170172+1.2%

Summary: The Lynn real estate market had 172 homes for sale in September 2024, a 1.2% increase compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 1012
+20.0%
2 3741
+10.8%
3 6867
-1.5%
4 2521
-16.0%
5+ 3031
+3.3%

Summary: The Lynn housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 20%, 2 bedroom homes increased by 10.8%, 3 bedroom homes decreased by 1.5%, 4 bedroom homes decreased by 16%, and 5+ bedroom homes increased by 3.3%.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
6048-20.0%

Asking Price vs. Sold Price

14 Homes Were Sold
Under Asking

5 Homes Were Sold
At Asking

29 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynn, you could pay more than the asking price. 60.4% of homes here sold above asking price last month.

Summary: A total of 48 homes were sold or pending in Lynn in September 2024, down by 20.0% month-over-month. Of the 48 sold homes, 29% were sold under asking, 10% were sold at asking, and 60% 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

Sep 2023Sep 2024CHANGE
21 Days28 Days+34.7%

Summary: Homes in Lynn had an average of 28 days on market in Sep 2024, up by 34.7% compared to last year.

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

12 Homes Were Sold
In 30 - 90 Days

1 Home Was Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Lynn are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 48 homes were sold in Lynn; 73% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 2% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 30 Days Ago

Newest Listings in Lynn, MA

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