$10,000 Closing Credit*
$975,000
2,412 SqFt
3 Beds
•2 Full Baths, 1 Partial
#73312765, The Janice Sullivan Team, Listing Office: LAER Realty Partners
Is Lynnfield, 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, Lynnfield has remained a Seller's Market.
Key Takeaway
Lynnfield is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Lynnfield, MA
How much do homes in Lynnfield, MA cost?
Median Sold Price
$1,000,000
$392/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$102,750(+11.5%)
Key Takeaway
Homes in Lynnfield have sold for 11.5% more than they did a year ago.
Summary: The median home sold price in Lynnfield was $1,000,000 in October 2024, up 11.5% from last year, and the median price per square foot was $392.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $390K | $402.5K | +3.2% |
| 2 Bedrooms | $615.7K | $628K | +2.0% |
| 3 Bedrooms | $851K | $850K | -0.1% |
| 4 Bedrooms | $1.1M | $1.3M | +14.3% |
| 5+ Bedrooms | $1.4M | $1.8M | +24.7% |
Summary: Lynnfield housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 3.2%, 2 bedroom homes increased by 2%, 3 bedroom homes decreased by 0.1%, 4 bedroom homes increased by 14.3%, and 5+ bedroom homes increased by 24.7%.
Median Sold Price Compared To Nearby Cities
| Lynnfield | $897.2K | $1.0M | +11.5% |
| Peabody | $585K | $650K | +11.1% |
| Wakefield | $701.5K | $750K | +6.9% |
| Middleton | $825K | $867K | +5.1% |
| North Reading | $676K | $706K | +4.4% |
Housing Supply in Lynnfield, MA
How many homes are available in Lynnfield, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 44 | 50 | +13.6% |
Summary: The Lynnfield real estate market had 50 homes for sale in October 2024, a 13.6% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 7 | 0.0% |
| 3 Bedrooms | 19 | 19 | 0.0% |
| 4 Bedrooms | 16 | 21 | +31.3% |
| 5+ Bedrooms | 2 | 3 | +50.0% |
Summary: The Lynnfield housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes remained the same, 4 bedroom homes increased by 31.3%, and 5+ bedroom homes increased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 15 | 11 | -26.7% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Lynnfield, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Lynnfield in October 2024, down by 26.7% month-over-month. Of the 11 sold homes, 45% were sold under asking, 0% were sold at asking, and 55% were sold over asking.
Days on Market for Lynnfield, MA
How long does it take to sell a home in Lynnfield, MA?
Average Sale Time
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 21 Days | 23 Days | +10.7% |
Summary: Homes in Lynnfield had an average of 23 days on market in Oct 2024, up by 10.7% compared to last year.
Breakdown of Home Sale Times
8 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Lynnfield are selling fast, if you're buying plan to act quickly.
Summary: During October 2024, 11 homes were sold in Lynnfield; 73% of homes were sold within 30 days, 27% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
