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

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Methuen is a seller's market

Buyer's
Market

Difference Since November 2022

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

Key Takeaway

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

Housing Prices in Methuen, MA

How much do homes in Methuen, MA cost?

Median Sold Price

$525,000

$301/sqft

Based on all homes sold in the last 12 months.

Difference Since November 2022

+$20,000(+4.0%)

Key Takeaway

Homes in Methuen have sold for 4% more than they did a year ago.

Summary: The median home sold price in Methuen was $525,000 in November 2023, up 4% from last year, and the median price per square foot was $301.

Median Sold Price By Bedroom Count

# BEDSNov 2022Nov 2023CHANGE
1 $200K$266K
+33.0%
2 $362K$400K
+10.5%
3 $493.6K$525K
+6.3%
4 $600K$600K
0.0%
5+ $666K$690K
+3.6%

Summary: Methuen housing prices by bedroom type for November 2023 compared to the previous year: The home price of 1 bedroom homes increased by 33%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 6.3%, 4 bedroom homes did not change, and 5+ bedroom homes increased by 3.6%.

Median Sold Price Compared To Nearby Cities

Methuen
+4.0%
Methuen Town
+4.0%
North Andover
+1.9%
Lawrence
-2.1%

Housing Supply in Methuen, MA

How many homes are available in Methuen, MA?

Number of Homes For Sale

Oct 2023Nov 2023CHANGE
126119-5.6%

Summary: The Methuen real estate market had 119 homes for sale in November 2023, a 5.6% decrease compared to October 2023.

Homes For Sale By Bedroom Count

# BEDSOct 2023Nov 2023CHANGE
1 01
+100.0%
2 3028
-6.7%
3 5850
-13.8%
4 2728
+3.7%
5+ 1112
+9.1%

Summary: The Methuen housing inventory by bedroom type for November 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 6.7%, 3 bedroom homes decreased by 13.8%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 9.1%.

Number of Homes Sold

Oct 2023Nov 2023CHANGE
3738+2.7%

Asking Price vs. Sold Price

5 Homes Were Sold
Under Asking

2 Homes Were Sold
At Asking

31 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Methuen, you could pay more than the asking price. 81.6% of homes here sold above asking price last month.

Summary: A total of 38 homes were sold or pending in Methuen in November 2023, up by 2.7% month-over-month. Of the 38 sold homes, 13% were sold under asking, 5% were sold at asking, and 82% were sold over asking.

Days on Market for Methuen, MA

How long does it take to sell a home in Methuen, MA?

Average Sale Time

Nov 2022Nov 2023CHANGE
27 Days16 Days-39.6%

Summary: Homes in Methuen had an average of 16 days on market in Nov 2023, down by 39.6% compared to last year.

Breakdown of Home Sale Times

34 Homes Were Sold
Under 30 Days

4 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

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

Summary: During November 2023, 38 homes were sold in Methuen; 89% of homes were sold within 30 days, 11% of homes were sold within 30 to 90 days, and 0% 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 7 Days Ago

Newest Listings in Methuen, MA

Nearby Markets to Methuen, MA

What housing markets are near Methuen, MA?