Lynnfield Real Estate Prices Up in Recent Months

New data from the Warren Group shows that median sales prices for single family homes are up just over 10% in Lynnfield over the past year.

The data for the month of April found that at the end of April, the median sale price in Lynnfield was $439,950, compared to $398,000 for that month last year. The April median sales price also saw a 6.52% year-over-year gain, from $397,750 to $423,700.

As of the end of April, 30 homes were reported sold in Lynnfield, compared to 27 for that period in 2012. April sales actually declined somewhat year-over-year, from 14 to 12.

Statewide for the month of April, single family home sales dropped somewhat compared to that month in 2012.

"There is high demand and low inventory this spring, which is causing this pattern of rising prices and dropping sales volume," said Timothy M. Warren Jr., CEO of The Warren Group. "Despite the news that sales volume is down, low mortgage rates and steady home values are helping buoy consumer confidence."