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Rich Rosa's Blog

By Rich Rosa | Broker in 01830

Lynn, Massachusetts Home Sales Drop, But Median Price Increases First Quarter 2010

Single-family median home prices in Lynn, Massachusetts increased by 9.4 percent, from $175,000 to $191,500 in the first quarter of 2010 compared to the same period the year before; however, the rise in median home price was with fewer sales. Single-family home sales decreased by 12.5 percent compared to Q1 of 2009.

The data come from MLS Property Information Network, Inc., the local multiple listing service.

Multi-family homes in Lynn, MA saw the largest drop in sales, and the median price increased only slightly.  Sales decreased by 15.3 percent in Q1, while the median price only rose 3.3 percent compared to the first quarter of 2009.

Condominiums in Lynn followed suit with the median price up 18.3 percent, and condo sales down 9 percent.

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