Real Estate Market Report - Lynn, MA (Nov, 2023)

The median sale/list price for houses in this data set shows a gradual increase from November 2022 to June 2023, with the highest median price being in June at $564,499.50. However, there is a slight dip in median price in March for both sale and list prices before increasing again in April. The data set also shows that the median list price is consistently higher than the median sale price throughout the year.

The median sale price per square foot seems to be steadily increasing from November 2022 to June 2023, with a peak in May 2023 at 343.442. However, there is a slight dip in September 2023 to 335.274 before ending at 339.816 in October 2023.

The median sale price to list price ratio is expected to remain relatively stable for the next few months, with slight fluctuations up and down. However, there is a notable increase in May and June of 2023, with ratios of 1.033 and 1.056, respectively. This indicates that sellers may have more negotiating power during those months.

The first set of data shows that the number of properties sold/listed increased from November 2022 to May 2023, with a peak of 85 in September 2023 before decreasing slightly in October 2023. The second set of data shows a more fluctuating trend, with a peak of 74 in October 2023 and some months with lower counts such as February and April 2023. Overall, both sets of data suggest a relatively active real estate market with some variation in the number of properties sold/listed each month.

The median days on market for homes in the dataset started at 55 days in November 2022 and steadily increased to a peak of 69 days in January 2023. From there, it gradually decreased to 50.5 days in May 2023, where it remained relatively stable at around 50 days for the rest of the year.