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 February 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

$925,000

$360/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$4,500(+0.5%)

Key Takeaway

The sold price of homes in Lynnfield has remained the same since last year.

Summary: The median home sold price in Lynnfield was $925,000 in February 2024, up 0.5% from last year, and the median price per square foot was $360.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $390K$375K
-3.8%
2 $612.5K$620.3K
+1.3%
3 $837.5K$863K
+3.0%
4 $1.2M$1.2M
-1.6%
5+ $1.6M$1.6M
-0.8%

Summary: Lynnfield housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.8%, 2 bedroom homes increased by 1.3%, 3 bedroom homes increased by 3%, 4 bedroom homes decreased by 1.6%, and 5+ bedroom homes decreased by 0.8%.

Median Sold Price Compared To Nearby Cities

Middleton
+12.1%
Wakefield
+6.3%
Peabody
+4.5%
North Reading
+2.1%
Lynnfield
0.5%

Housing Supply in Lynnfield, MA

How many homes are available in Lynnfield, MA?

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
2624-7.7%

Summary: The Lynnfield real estate market had 24 homes for sale in February 2024, a 7.7% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 10
-100.0%
2 43
-25.0%
3 66
0.0%
4 99
0.0%
5+ 66
0.0%

Summary: The Lynnfield housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 25%, 3 bedroom homes remained the same, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
660.0%

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 February 2024, the same as the previous 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

Feb 2023Feb 2024CHANGE
41 Days52 Days+28.5%

Summary: Homes in Lynnfield had an average of 52 days on market in Feb 2024, up by 28.5% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

2 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.

Summary: During February 2024, 6 homes were sold in Lynnfield; 50% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 33% 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 28 Days Ago

Newest Listings in Lynnfield, MA

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