$10,000 Closing Credit*
$2,049,000
4,750 SqFt
5 Beds
•4 Full Baths
#73318946, Sandeep Arora, Listing Office: NextHome Luxury Realty
Is Lexington, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since November 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
$1,600,000
$554/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$135,000(+9.2%)
Key Takeaway
Homes in Lexington have sold for 9.2% more than they did a year ago.
Summary: The median home sold price in Lexington was $1,600,000 in November 2024, up 9.2% from last year, and the median price per square foot was $554.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $344.4K | $525K | +52.4% |
| 2 Bedrooms | $760K | $705.5K | -7.2% |
| 3 Bedrooms | $1.0M | $1.1M | +6.2% |
| 4 Bedrooms | $1.4M | $1.5M | +1.8% |
| 5+ Bedrooms | $2.3M | $2.4M | +5.3% |
Summary: Lexington housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes increased by 52.4%, 2 bedroom homes decreased by 7.2%, 3 bedroom homes increased by 6.2%, 4 bedroom homes increased by 1.8%, and 5+ bedroom homes increased by 5.3%.
Median Sold Price Compared To Nearby Cities
| Lexington | $1.4M | $1.6M | +9.2% |
| Belmont | $1.2M | $1.3M | +8.9% |
| Winchester | $1.3M | $1.4M | +7.4% |
| Arlington | $992.5K | $1.0M | +4.6% |
Housing Supply in Lexington, MA
How many homes are available in Lexington, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 75 | 63 | -16.0% |
Summary: The Lexington real estate market had 63 homes for sale in November 2024, a 16.0% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 1 | -50.0% |
| 2 Bedrooms | 1 | 1 | 0.0% |
| 3 Bedrooms | 21 | 14 | -33.3% |
| 4 Bedrooms | 17 | 14 | -17.6% |
| 5+ Bedrooms | 34 | 33 | -2.9% |
Summary: The Lexington housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 50%, 2 bedroom homes remained the same, 3 bedroom homes decreased by 33.3%, 4 bedroom homes decreased by 17.6%, and 5+ bedroom homes decreased by 2.9%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 21 | 15 | -28.6% |
Asking Price vs. Sold Price
10 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lexington, you may be able to get a good deal. 66.7% of homes here sold below asking price last month.
Summary: A total of 15 homes were sold or pending in Lexington in November 2024, down by 28.6% month-over-month. Of the 15 sold homes, 67% were sold under asking, 13% were sold at asking, and 20% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 28 Days | 32 Days | +11.5% |
Summary: Homes in Lexington had an average of 32 days on market in Nov 2024, up by 11.5% compared to last year.
Breakdown of Home Sale Times
10 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Lexington are selling fast, if you're buying plan to act quickly.
Summary: During November 2024, 15 homes were sold in Lexington; 67% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
