Is Lynnfield, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 2023
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.
Housing Prices in Lynnfield, MA
How much do homes in Lynnfield, MA cost?
Median Sold Price
$1,008,000
$369/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Lynnfield have sold for 15.9% more than they did a year ago.
Summary: The median home sold price in Lynnfield was $1,008,000 in June 2024, up 15.9% from last year, and the median price per square foot was $369.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $390K | $402.5K | +3.2% |
| 2 Bedrooms | $600.3K | $625K | +4.1% |
| 3 Bedrooms | $832.5K | $850K | +2.1% |
| 4 Bedrooms | $1.1M | $1.2M | +14.6% |
| 5+ Bedrooms | $1.5M | $1.7M | +16.1% |
Summary: Lynnfield housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 4.1%, 3 bedroom homes increased by 2.1%, 4 bedroom homes increased by 14.6%, and 5+ bedroom homes increased by 16.1%.
Median Sold Price Compared To Nearby Cities
| Lynnfield | $870K | $1.0M | +15.9% |
| Wakefield | $684.6K | $726.3K | +6.1% |
| Peabody | $585K | $620K | +6.0% |
| North Reading | $676K | $701.1K | +3.7% |
| Middleton | $825K | $815K | -1.2% |
Housing Supply in Lynnfield, MA
How many homes are available in Lynnfield, MA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 46 | 52 | +13.0% |
Summary: The Lynnfield real estate market had 52 homes for sale in June 2024, a 13.0% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 6 | 5 | -16.7% |
| 3 Bedrooms | 13 | 19 | +46.2% |
| 4 Bedrooms | 22 | 23 | +4.5% |
| 5+ Bedrooms | 4 | 5 | +25.0% |
Summary: The Lynnfield housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 46.2%, 4 bedroom homes increased by 4.5%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 5 | 17 | +240.0% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
9 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynnfield, you could pay more than the asking price. 52.9% of homes here sold above asking price last month.
Summary: A total of 17 homes were sold or pending in Lynnfield in June 2024, up by 240.0% month-over-month. Of the 17 sold homes, 41% were sold under asking, 6% were sold at asking, and 53% were sold over asking.
Days on Market for Lynnfield, MA
How long does it take to sell a home in Lynnfield, MA?
Average Sale Time
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 29 Days | 31 Days | +6.5% |
Summary: Homes in Lynnfield had an average of 31 days on market in Jun 2024, up by 6.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lynnfield are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 17 homes were sold in Lynnfield; 82% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
