Is Methuen, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 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
$541,666
$305/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Methuen have sold for 5.4% more than they did a year ago.
Summary: The median home sold price in Methuen was $541,666 in April 2024, up 5.4% from last year, and the median price per square foot was $305.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $185K | $270K | +45.9% |
| 2 Bedrooms | $380K | $400K | +5.3% |
| 3 Bedrooms | $504.5K | $539K | +6.8% |
| 4 Bedrooms | $630K | $600K | -4.8% |
| 5+ Bedrooms | $678.9K | $695K | +2.4% |
Summary: Methuen housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 45.9%, 2 bedroom homes increased by 5.3%, 3 bedroom homes increased by 6.8%, 4 bedroom homes decreased by 4.8%, and 5+ bedroom homes increased by 2.4%.
Median Sold Price Compared To Nearby Cities
| Methuen Town | $513.1K | $541.6K | +5.6% |
| Methuen | $513.8K | $541.6K | +5.4% |
| North Andover | $690K | $704.6K | +2.1% |
| Lawrence | $500K | $510K | +2.0% |
Housing Supply in Methuen, MA
How many homes are available in Methuen, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 80 | 92 | +15.0% |
Summary: The Methuen real estate market had 92 homes for sale in April 2024, a 15.0% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 4 | +300.0% |
| 2 Bedrooms | 17 | 23 | +35.3% |
| 3 Bedrooms | 31 | 32 | +3.2% |
| 4 Bedrooms | 23 | 26 | +13.0% |
| 5+ Bedrooms | 8 | 7 | -12.5% |
Summary: The Methuen housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes increased by 35.3%, 3 bedroom homes increased by 3.2%, 4 bedroom homes increased by 13%, and 5+ bedroom homes decreased by 12.5%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 22 | 29 | +31.8% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Methuen, you could pay more than the asking price. 86.2% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Methuen in April 2024, up by 31.8% month-over-month. Of the 29 sold homes, 7% were sold under asking, 7% were sold at asking, and 86% 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
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 24 Days | 18 Days | -23.6% |
Summary: Homes in Methuen had an average of 18 days on market in Apr 2024, down by 23.6% compared to last year.
Breakdown of Home Sale Times
25 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
0 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 April 2024, 29 homes were sold in Methuen; 86% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
