Is Lynnfield, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since February 2023
Since last year, Lynnfield has remained a Seller's Market.
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
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
# BEDS# BEDROOMS | Feb 2023 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | $390K | $375K | -3.8% |
2 Bedrooms | $612.5K | $620.3K | +1.3% |
3 Bedrooms | $837.5K | $863K | +3.0% |
4 Bedrooms | $1.2M | $1.2M | -1.6% |
5+ Bedrooms | $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 | $775K | $868.5K | +12.1% |
Wakefield | $670K | $712.5K | +6.3% |
Peabody | $575K | $601K | +4.5% |
North Reading | $690.7K | $705K | +2.1% |
Lynnfield | $920.5K | $925K | 0.5% |
Housing Supply in Lynnfield, MA
How many homes are available in Lynnfield, MA?
Number of Homes For Sale
Jan 2024 | Feb 2024 | CHANGE |
---|---|---|
26 | 24 | -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
# BEDS# BEDROOMS | Jan 2024 | Feb 2024 | CHANGE |
---|---|---|---|
1 Bedroom | 1 | 0 | -100.0% |
2 Bedrooms | 4 | 3 | -25.0% |
3 Bedrooms | 6 | 6 | 0.0% |
4 Bedrooms | 9 | 9 | 0.0% |
5+ Bedrooms | 6 | 6 | 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 2024 | Feb 2024 | CHANGE |
---|---|---|
6 | 6 | 0.0% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
2 Homes Were Sold
Over Asking
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 2023 | Feb 2024 | CHANGE |
---|---|---|
41 Days | 52 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
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.