Lynnfield Home Prices on the Rise

Home sales in Lynnfield remain comparable to where they were at this time last year, although prices have risen considerably since then.

New data from the Warren Group finds that 13 homes were sold in Lynnfield in May – compared to 14 for that month in 2012. At the end of May, 43 home sales were recorded in Lynnfield for all of 2013. That same time period in 2012 saw 41 home sales, a difference of less than 5 percent.

The median sale price for single family homes in town has risen more noticeably since 2012. At the end of May,  the year to date median sale price for Lynnfield in 2013 was $459,900 – at that time in 2012, it was $400,500 – a difference of just under 15%. In May, the town’s median sale price was $615,000.

"We're expecting home sales to continue to rise on a year-over-year basis this summer. Median prices have increased by double-digit percentages for four straight months and show no signs of slowing,” said Timothy M. Warren, Jr., CEO of the Warren Group.