Is Lexington, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
Since last year, Lexington has remained a Seller's Market.
Key Takeaway
Lexington is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lexington, MA
How much do homes in Lexington, MA cost?
Median Sold Price
$1,503,600
$525/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Lexington have sold for 0.6% more than they did a year ago.
Summary: The median home sold price in Lexington was $1,503,600 in April 2024, up 0.6% from last year, and the median price per square foot was $525.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $395K | $411.9K | +4.3% |
| 2 Bedrooms | $700K | $772.5K | +10.4% |
| 3 Bedrooms | $1.0M | $1.0M | +8.5% |
| 4 Bedrooms | $1.5M | $1.4M | -10.3% |
| 5+ Bedrooms | $2.3M | $2.3M | -1.0% |
Summary: Lexington housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 4.3%, 2 bedroom homes increased by 10.4%, 3 bedroom homes increased by 8.5%, 4 bedroom homes decreased by 10.3%, and 5+ bedroom homes decreased by 1%.
Median Sold Price Compared To Nearby Cities
| Arlington | $984.3K | $1.0M | +4.1% |
| Winchester | $1.3M | $1.3M | +3.9% |
| Belmont | $1.2M | $1.2M | +3.3% |
| Lexington | $1.4M | $1.5M | +0.6% |
Housing Supply in Lexington, MA
How many homes are available in Lexington, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 97 | +21.3% |
Summary: The Lexington real estate market had 97 homes for sale in April 2024, a 21.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 2 | +100.0% |
| 2 Bedrooms | 3 | 0 | -100.0% |
| 3 Bedrooms | 17 | 21 | +23.5% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 43 | 53 | +23.3% |
Summary: The Lexington housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 100%, 3 bedroom homes increased by 23.5%, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 23.3%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 17 | 30 | +76.5% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington, you could pay more than the asking price. 56.7% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Lexington in April 2024, up by 76.5% month-over-month. Of the 30 sold homes, 40% were sold under asking, 3% were sold at asking, and 57% were sold over asking.
Days on Market for Lexington, MA
How long does it take to sell a home in Lexington, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 37 Days | 40 Days | +8.0% |
Summary: Homes in Lexington had an average of 40 days on market in Apr 2024, up by 8% compared to last year.
Breakdown of Home Sale Times
24 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lexington are selling fast, if you're buying plan to act quickly.
Summary: During April 2024, 30 homes were sold in Lexington; 80% of homes were sold within 30 days, 10% of homes were sold within 30 to 90 days, and 10% of homes were sold over 90 days.
© Copyright 2024 PrimeMLS, Inc. All rights reserved. This information is deemed reliable, but not guaranteed. The data relating to real estate displayed on this display comes in part from the IDX Program of PrimeMLS. The information being provided is for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.