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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Lynnfield is a seller's market

Buyer's
Market

Difference Since November 2021

Since last year, Lynnfield has remained a Seller's Market.

Key Takeaway

Lynnfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

How much do homes in Lynnfield, MA cost?

Median Sold Price

$905,000

$376/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2021

+$102,500(+12.8%)

Key Takeaway

Homes in Lynnfield have sold for 12.8% more than they did a year ago.

Median Sold Price By Bedroom Count

# BEDSNov 2021Nov 2022%
1 -$460K
N/A
2 $610K$748.5K
+22.7%
3 $772.5K$827.5K
+7.1%
4 $973.2K$1.1M
+20.5%
5+ $975K$1.6M
+69.2%

Median Sold Price Compared To Nearby Cities

Lynnfield
+12.8%
North Reading
+12.5%
Wakefield
+11.7%
Middleton
+7.5%
Peabody
+4.5%

How many homes are available in Lynnfield, MA?

Number of Homes For Sale

Oct 2022Nov 2022%
3638+5.6%

Homes For Sale By Bedroom Count

# BEDSOct 2022Nov 2022%
1 02
+100.0%
2 65
-16.7%
3 1920
+5.3%
4 98
-11.1%
5+ 23
+50.0%

Number of Homes Sold

Oct 2022Nov 2022%
714+100.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

10 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynnfield, you could pay more than the asking price. 71.4% of homes here sold above asking price last month.

Average Sale Time

Nov 2021Nov 2022%
21 Days16 Days-20.4%

Breakdown of Home Sale Times

14 Homes Were Sold
Under 30 Days

0 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

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

About Lynnfield, MA

There are 38 homes are for sale in Lynnfield, MA real estate market. The number of homes for sale in Lynnfield, MA increased by 5.6% between October 2022 and November 2022. In November 2022 median list price was $905,000 and the average listing age was 16 days. Listing prices have changed in this real estate market between October 2022 and November 2022: prices of 1 bedroom properties went up by 0%, 2 bedrooms properties prices increased by 22.7%, prices of 3 bedrooms properties went up by 7.1%, prices of 4 bedrooms properties went up by 20.5%, 5 bedrooms properties became 69.2% more expensive. The following changes in the number of homes for sale were observed in this housing market: the quantity of 1 bedroom homes went up by 100%, volume of 2 bedrooms homes went down by 16.7%, 3 bedrooms homes inventory increased by 5.3%, 4 bedrooms homes became 11.1% less available, number of 5 bedrooms homes increased by 50%. In November 2022, from all listings sold in Lynnfield, MA there were more than 10 sold above asking price, over 4 sold below and more than 0 were sold right at the asked price.

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