$2,731 Closing Credit*
$230,000
637 SqFt
2 Beds
•1 Full Bath
#73313123, Jonathan Delarosa, Listing Office: Keller Williams Realty
Is Lawrence, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 2023
Since last year, Lawrence has remained a Seller's Market.
Key Takeaway
Lawrence is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lawrence, MA
How much do homes in Lawrence, MA cost?
Median Sold Price
$550,000
$289/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$63,000(+12.9%)
Key Takeaway
Homes in Lawrence have sold for 12.9% more than they did a year ago.
Summary: The median home sold price in Lawrence was $550,000 in October 2024, up 12.9% from last year, and the median price per square foot was $289.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $190K | +2.7% |
| 2 Bedrooms | $295K | $275K | -6.8% |
| 3 Bedrooms | $450K | $482.5K | +7.2% |
| 4 Bedrooms | $475.5K | $510K | +7.3% |
| 5+ Bedrooms | $671.5K | $750K | +11.7% |
Summary: Lawrence housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 2.7%, 2 bedroom homes decreased by 6.8%, 3 bedroom homes increased by 7.2%, 4 bedroom homes increased by 7.3%, and 5+ bedroom homes increased by 11.7%.
Median Sold Price Compared To Nearby Cities
| Lawrence | $487K | $550K | +12.9% |
| Methuen Town | $523.7K | $572K | +9.2% |
| Methuen | $525K | $571.5K | +8.9% |
| Andover | $850K | $886K | +4.2% |
| North Andover | $700K | $710.8K | +1.5% |
Housing Supply in Lawrence, MA
How many homes are available in Lawrence, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 95 | 87 | -8.4% |
Summary: The Lawrence real estate market had 87 homes for sale in October 2024, a 8.4% decrease compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 16 | 14 | -12.5% |
| 3 Bedrooms | 30 | 34 | +13.3% |
| 4 Bedrooms | 16 | 9 | -43.8% |
| 5+ Bedrooms | 31 | 29 | -6.5% |
Summary: The Lawrence housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 13.3%, 4 bedroom homes decreased by 43.8%, and 5+ bedroom homes decreased by 6.5%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 29 | 32 | +10.3% |
Asking Price vs. Sold Price
8 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
24 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lawrence, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 32 homes were sold or pending in Lawrence in October 2024, up by 10.3% month-over-month. Of the 32 sold homes, 25% were sold under asking, 0% were sold at asking, and 75% were sold over asking.
Days on Market for Lawrence, MA
How long does it take to sell a home in Lawrence, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 24 Days | 26 Days | +9.4% |
Summary: Homes in Lawrence had an average of 26 days on market in Oct 2024, up by 9.4% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lawrence are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 32 homes were sold in Lawrence; 78% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
