Is Methuen, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 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
$549,700
$309/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Methuen have sold for 7.2% more than they did a year ago.
Summary: The median home sold price in Methuen was $549,700 in May 2024, up 7.2% from last year, and the median price per square foot was $309.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $230K | $250K | +8.7% |
| 2 Bedrooms | $385K | $397K | +3.1% |
| 3 Bedrooms | $505K | $540K | +6.9% |
| 4 Bedrooms | $615K | $635K | +3.3% |
| 5+ Bedrooms | $685K | $700K | +2.2% |
Summary: Methuen housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 8.7%, 2 bedroom homes increased by 3.1%, 3 bedroom homes increased by 6.9%, 4 bedroom homes increased by 3.3%, and 5+ bedroom homes increased by 2.2%.
Median Sold Price Compared To Nearby Cities
| Salem | $500K | $580K | +16.0% |
| Methuen | $512.7K | $549.7K | +7.2% |
| Methuen Town | $514K | $549.7K | +6.9% |
| Lawrence | $500K | $520K | +4.0% |
| North Andover | $687K | $712.5K | +3.7% |
Housing Supply in Methuen, MA
How many homes are available in Methuen, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 100 | 109 | +9.0% |
Summary: The Methuen real estate market had 109 homes for sale in May 2024, a 9.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 25 | 30 | +20.0% |
| 3 Bedrooms | 40 | 48 | +20.0% |
| 4 Bedrooms | 26 | 23 | -11.5% |
| 5+ Bedrooms | 7 | 6 | -14.3% |
Summary: The Methuen housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 20%, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 11.5%, and 5+ bedroom homes decreased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 30 | 37 | +23.3% |
Asking Price vs. Sold Price
7 Homes Were Sold
Under Asking
4 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Methuen, you could pay more than the asking price. 70.3% of homes here sold above asking price last month.
Summary: A total of 37 homes were sold or pending in Methuen in May 2024, up by 23.3% month-over-month. Of the 37 sold homes, 19% were sold under asking, 11% were sold at asking, and 70% 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
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 38 Days | 19 Days | -48.5% |
Summary: Homes in Methuen had an average of 19 days on market in May 2024, down by 48.5% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Methuen are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 37 homes were sold in Methuen; 84% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
