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 January 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

$920,500

$362/sqft

Based on all homes sold in the last 12 months.

Difference Since January 2023

-$9,500(-1.0%)

Key Takeaway

Homes in Lynnfield have sold for 1% less than they did a year ago.

Summary: The median home sold price in Lynnfield was $920,500 in January 2024, down 1% from last year, and the median price per square foot was $362.

Median Sold Price By Bedroom Count

# BEDSJan 2023Jan 2024CHANGE
1 $425K$375K
-11.8%
2 $640K$620.3K
-3.1%
3 $840K$840.5K
0.1%
4 $1.2M$1.1M
-6.0%
5+ $1.6M$1.7M
+7.0%

Summary: Lynnfield housing prices by bedroom type for January 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 11.8%, 2 bedroom homes decreased by 3.1%, 3 bedroom homes increased by 0.1%, 4 bedroom homes decreased by 6%, and 5+ bedroom homes increased by 7%.

Median Sold Price Compared To Nearby Cities

Wakefield
+6.0%
Peabody
+4.4%
North Reading
+0.7%
Lynnfield
-1.0%

Housing Supply in Lynnfield, MA

How many homes are available in Lynnfield, MA?

Number of Homes For Sale

Dec 2023Jan 2024CHANGE
3726-29.7%

Summary: The Lynnfield real estate market had 26 homes for sale in January 2024, a 29.7% decrease compared to December 2023.

Homes For Sale By Bedroom Count

# BEDSDec 2023Jan 2024CHANGE
1 11
0.0%
2 64
-33.3%
3 106
-40.0%
4 139
-30.8%
5+ 76
-14.3%

Summary: The Lynnfield housing inventory by bedroom type for January 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes decreased by 40%, 4 bedroom homes decreased by 30.8%, and 5+ bedroom homes decreased by 14.3%.

Number of Homes Sold

Dec 2023Jan 2024CHANGE
156-60.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

2 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Lynnfield, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.

Summary: A total of 6 homes were sold or pending in Lynnfield in January 2024, down by 60.0% month-over-month. Of the 6 sold homes, 67% were sold under asking, 0% were sold at asking, and 33% 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

Jan 2023Jan 2024CHANGE
33 Days45 Days+36.5%

Summary: Homes in Lynnfield had an average of 45 days on market in Jan 2024, up by 36.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

1 Home Was 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.

Summary: During January 2024, 6 homes were sold in Lynnfield; 50% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 17% 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 29 Days Ago

Newest Listings in Lynnfield, MA

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