$4,964 Closing Credit*
$418,000
810 SqFt
2 Beds
•2 Full Baths
#73323034, Jenna DeRose, Listing Office: NextGen Realty, Inc.
Is Lynn, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since December 2023
Since last year, Lynn has remained a Seller's Market.
Key Takeaway
Lynn is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lynn, MA
How much do homes in Lynn, MA cost?
Median Sold Price
$575,000
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since December 2023
+$25,000(+4.5%)
Key Takeaway
Homes in Lynn have sold for 4.5% more than they did a year ago.
Summary: The median home sold price in Lynn was $575,000 in December 2024, up 4.5% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $251K | $319K | +27.1% |
| 2 Bedrooms | $382K | $410K | +7.3% |
| 3 Bedrooms | $535K | $585K | +9.3% |
| 4 Bedrooms | $620K | $630K | +1.6% |
| 5+ Bedrooms | $770K | $842.5K | +9.4% |
Summary: Lynn housing prices by bedroom type for December 2024 compared to the previous year: The home price of 1 bedroom homes increased by 27.1%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 9.3%, 4 bedroom homes increased by 1.6%, and 5+ bedroom homes increased by 9.4%.
Median Sold Price Compared To Nearby Cities
| Peabody | $599.9K | $650K | +8.3% |
| Swampscott | $680K | $723.7K | +6.4% |
| Saugus | $600K | $633.3K | +5.6% |
| Lynn | $550K | $575K | +4.5% |
Housing Supply in Lynn, MA
How many homes are available in Lynn, MA?
Number of Homes For Sale
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 172 | 145 | -15.7% |
Summary: The Lynn real estate market had 145 homes for sale in December 2024, a 15.7% decrease compared to November 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 15 | 17 | +13.3% |
| 2 Bedrooms | 44 | 36 | -18.2% |
| 3 Bedrooms | 51 | 37 | -27.5% |
| 4 Bedrooms | 31 | 24 | -22.6% |
| 5+ Bedrooms | 31 | 31 | 0.0% |
Summary: The Lynn housing inventory by bedroom type for December 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 13.3%, 2 bedroom homes decreased by 18.2%, 3 bedroom homes decreased by 27.5%, 4 bedroom homes decreased by 22.6%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Nov 2024 | Dec 2024 | CHANGE |
|---|---|---|
| 48 | 54 | +12.5% |
Asking Price vs. Sold Price
22 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
30 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynn, you could pay more than the asking price. 55.6% of homes here sold above asking price last month.
Summary: A total of 54 homes were sold or pending in Lynn in December 2024, up by 12.5% month-over-month. Of the 54 sold homes, 41% were sold under asking, 4% were sold at asking, and 56% were sold over asking.
Days on Market for Lynn, MA
How long does it take to sell a home in Lynn, MA?
Average Sale Time
| Dec 2023 | Dec 2024 | CHANGE |
|---|---|---|
| 24 Days | 38 Days | +56.8% |
Summary: Homes in Lynn had an average of 38 days on market in Dec 2024, up by 56.8% compared to last year.
Breakdown of Home Sale Times
34 Homes Were Sold
Under 30 Days
15 Homes Were Sold
In 30 - 90 Days
5 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lynn are selling fast, if you're buying plan to act quickly.
Summary: During December 2024, 54 homes were sold in Lynn; 63% of homes were sold within 30 days, 28% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
