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 June 2023

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

$549,400

$308/sqft

Based on all homes sold in the last 12 months.

Difference Since June 2023

+$35,550(+6.9%)

Key Takeaway

Homes in Methuen have sold for 6.9% more than they did a year ago.

Summary: The median home sold price in Methuen was $549,400 in June 2024, up 6.9% from last year, and the median price per square foot was $308.

Median Sold Price By Bedroom Count

# BEDSJun 2023Jun 2024CHANGE
1 $255K$249.5K
-2.2%
2 $390K$399K
+2.3%
3 $510K$540K
+5.9%
4 $605K$650K
+7.4%
5+ $685K$700K
+2.2%

Summary: Methuen housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 2.2%, 2 bedroom homes increased by 2.3%, 3 bedroom homes increased by 5.9%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 2.2%.

Median Sold Price Compared To Nearby Cities

Salem
+25.5%
Methuen
+6.9%
Methuen Town
+6.9%
Lawrence
+6.7%
North Andover
+2.3%

Housing Supply in Methuen, MA

How many homes are available in Methuen, MA?

Number of Homes For Sale

May 2024Jun 2024CHANGE
124133+7.3%

Summary: The Methuen real estate market had 133 homes for sale in June 2024, a 7.3% increase compared to May 2024.

Homes For Sale By Bedroom Count

# BEDSMay 2024Jun 2024CHANGE
1 43
-25.0%
2 3426
-23.5%
3 5364
+20.8%
4 2729
+7.4%
5+ 611
+83.3%

Summary: The Methuen housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 25%, 2 bedroom homes decreased by 23.5%, 3 bedroom homes increased by 20.8%, 4 bedroom homes increased by 7.4%, and 5+ bedroom homes increased by 83.3%.

Number of Homes Sold

May 2024Jun 2024CHANGE
4038-5.0%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

6 Homes Were Sold
At Asking

28 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. 73.7% of homes here sold above asking price last month.

Summary: A total of 38 homes were sold or pending in Methuen in June 2024, down by 5.0% month-over-month. Of the 38 sold homes, 11% were sold under asking, 16% were sold at asking, and 74% 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

Jun 2023Jun 2024CHANGE
24 Days16 Days-33.8%

Summary: Homes in Methuen had an average of 16 days on market in Jun 2024, down by 33.8% compared to last year.

Breakdown of Home Sale Times

35 Homes Were Sold
Under 30 Days

3 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 June 2024, 38 homes were sold in Methuen; 92% of homes were sold within 30 days, 8% 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 13 Days Ago

Newest Listings in Methuen, MA

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