LYNNFIELD — The town’s real estate market is off to a slow start to begin the year.
According to The Warren Group, there were five single-family homes sold in Lynnfield during the month of January that had a median sales price of $962,500. The median sales price represented a 28.3 percent increase over the five single-family homes sold in town in January 2024 that had a median sales price of $750,000.
There were 123 single-family homes sold in Lynnfield in 2024, which represented a 17.1 percent increase over the 105 single-family homes that were sold in town during 2023. The median sales price for a home sold in Lynnfield last year was $960,000, which was a 12.7 percent decline over 2023’s median sales price of $1.1 million.
According to The Warren Group, there were 12 single-family homes sold in December 2024 that had a median sales price of $917,450, representing a 9.1 percent increase over the 11 single-family homes sold in December 2023 that had a median sales price of $1,150,000.
The Massachusetts median single-family home price reached a new all-time high in January 2025, rising 6.4 percent on a year-over-year basis to $585,000.
Single-family homes
There were 2,626 single-family home sales in Massachusetts in January, a 9.3 percent increase from January 2024, when there were 2,403 transactions. Meanwhile, the median single-family home price increased 6.4 percent on a year-over-year basis to $585,000, a new all-time high for the month of January.
“Massachusetts saw a total of 2,626 single-family home sales in the first month of the year, marking a 9.3 percent increase from 2024,” said Cassidy Norton, associate publisher and media relations director of The Warren Group. “The year began with a record-setting median sale price of $585,000, up 6.4 percent from January 2024.”
Condominiums
There were no condominium sales in town during the month of January.
Lynnfield’s condo market sales will be increasing in 2025, as Toll Brothers, Inc. will begin selling the 66 units that will be part of its new Willis Brook at Lynnfield over-55 development on the former eastern side of the Sagamore Spring Golf Club. The 2022 Fall Town Meeting approved two zoning changes associated with the Sagamore Spring Golf Club that are allowing Toll Brothers to construct an over-55 development that will also include a clubhouse and an outdoor pool.
According to The Warren Group, there were 14 condominiums sold in Lynnfield in 2024 that had a median sales price of $626,500. There were seven condos sold in town over the course of 2023 that had a median sales price of $695,000.
There were 1,159 condominium sales statewide in January 2025, compared to 973 in January 2024 – a 19.1 percent increase. Meanwhile, the median condo price increased 4.5 percent on a year-over-year basis to $530,000, up from $507,000 in January 2024, marking a new all-time high for January condo prices.
“There were 1,159 condos sold in January, marking a 19 percent increase from the previous year,” said Norton. “The median sale price reached an all-time high of $530,000, up 4.5 percent from 2024. The increase in sales figures may indicate a rise in inventory as we head into the 2025 spring market, a welcome respite from several years of record-low homes for sale.”
Greater Boston real estate
There were 1,229 single-family home sales in the Greater Boston housing market in January 2025, which marked a 10.6 percent increase from January 2024, when there were 1,111 transactions. Meanwhile, the median single-family sale price increased 8.7 percent on a year-over-year basis to $750,000.
In January, there were 810 condo sales in the Greater Boston housing market, up from 670 sales in January 2024, marking a nearly 21 percent increase. Meanwhile, the median condo price decreased by 0.8 percent on the same basis to $620,000, down $5,000 from last year’s median of $620,000.