$4,750 Closing Credit*
$400,000
1,334 SqFt
3 Beds
•1 Full Bath, 1 Partial
#73320855, Mike Pettoruto, Listing Office: Lillian Montalto Signature Properties
Is Methuen, 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, 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
$575,000
$320/sqft
Based on all homes sold in the last 12 months.
Difference Since November 2023
+$50,000(+9.5%)
Key Takeaway
Homes in Methuen have sold for 9.5% more than they did a year ago.
Summary: The median home sold price in Methuen was $575,000 in November 2024, up 9.5% from last year, and the median price per square foot was $320.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $266K | $249K | -6.4% |
| 2 Bedrooms | $400K | $402K | 0.5% |
| 3 Bedrooms | $525K | $575K | +9.5% |
| 4 Bedrooms | $600K | $651K | +8.5% |
| 5+ Bedrooms | $690K | $720K | +4.3% |
Summary: Methuen housing prices by bedroom type for November 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 6.4%, 2 bedroom homes increased by 0.5%, 3 bedroom homes increased by 9.5%, 4 bedroom homes increased by 8.5%, and 5+ bedroom homes increased by 4.3%.
Median Sold Price Compared To Nearby Cities
| Salem | $490K | $625K | +27.6% |
| Lawrence | $487K | $555K | +14.0% |
| Methuen | $525K | $575K | +9.5% |
| Methuen Town | $525K | $575K | +9.5% |
| North Andover | $700K | $722.4K | +3.2% |
Housing Supply in Methuen, MA
How many homes are available in Methuen, MA?
Number of Homes For Sale
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 140 | 116 | -17.1% |
Summary: The Methuen real estate market had 116 homes for sale in November 2024, a 17.1% decrease compared to October 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 30 | 22 | -26.7% |
| 3 Bedrooms | 65 | 63 | -3.1% |
| 4 Bedrooms | 35 | 19 | -45.7% |
| 5+ Bedrooms | 8 | 10 | +25.0% |
Summary: The Methuen housing inventory by bedroom type for November 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 26.7%, 3 bedroom homes decreased by 3.1%, 4 bedroom homes decreased by 45.7%, and 5+ bedroom homes increased by 25%.
Number of Homes Sold
| Oct 2024 | Nov 2024 | CHANGE |
|---|---|---|
| 39 | 30 | -23.1% |
Asking Price vs. Sold Price
13 Homes Were Sold
Under Asking
5 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Methuen, you may be able to get a good deal. 43.3% of homes here sold below asking price last month.
Summary: A total of 30 homes were sold or pending in Methuen in November 2024, down by 23.1% month-over-month. Of the 30 sold homes, 43% were sold under asking, 17% were sold at asking, and 40% 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
| Nov 2023 | Nov 2024 | CHANGE |
|---|---|---|
| 17 Days | 30 Days | +79.9% |
Summary: Homes in Methuen had an average of 30 days on market in Nov 2024, up by 79.9% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
6 Homes Were Sold
In 30 - 90 Days
2 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 November 2024, 30 homes were sold in Methuen; 70% of homes were sold within 30 days, 20% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
