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Old 10-03-2021, 07:11 PM
 
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It is increasingly difficult to buy a house in the northern suburbs of Boston. I am talking about Burlington, Wilmington, Reading, Wakefied etc. not to mention Winchester, Lexington and so on.
Typically you need to bid 8% over the listed price, plus waiving inspection in many cases.

However Lynnfield does not seem to be that popular. I wonder how it is like to live there.

(Not sure if it should go to the Boston message board.)
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Old 10-03-2021, 07:24 PM
 
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I would say Lynnfield is just as popular as those other towns.
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Old 10-03-2021, 07:27 PM
 
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Quote:
Originally Posted by bostonmike7 View Post
i would say lynnfield is just as popular as those other towns.
+1.
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Old 10-03-2021, 07:28 PM
 
Location: Massachusetts & Hilton Head, SC
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Quote:
Originally Posted by BostonMike7 View Post
I would say Lynnfield is just as popular as those other towns.
If not better than some of them.
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Old 10-03-2021, 07:50 PM
 
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Originally Posted by CaseyB View Post
If not better than some of them.
I consider it "better" than Reading, Wakefield and so on, but according to Zillow, the sold prices are not a lot higher than the listed prices, so I wonder why.
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Old 10-03-2021, 09:47 PM
 
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No commuter rail stop, no real downtown, has Lynn in the name…

Quote:
Originally Posted by Bettafish View Post
I consider it "better" than Reading, Wakefield and so on, but according to Zillow, the sold prices are not a lot higher than the listed prices, so I wonder why.
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Old 10-03-2021, 10:08 PM
 
Location: North of Boston
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Not sure where you are seeing that information on Zillow. Don't think I would use sales price over asking price as an effective real estate measure, at any rate. Many realtors list houses artificially low to incite a bidding war.

My house in Lynnfield is pretty much right in between these two recent sales...

Listed for $649,000, sold for $830,000

https://www.zillow.com/homedetails/7...56930800_zpid/

Listed for $689,900, sold for $850,000

https://www.zillow.com/homedetails/6...56930460_zpid/

This was a recent flip, listed for $849,000, sold for $870,000

https://www.zillow.com/homedetails/4...56931217_zpid/

Friends of ours recently sold their house, listed for $989,000, sold for $1,030,000

https://www.zillow.com/homedetails/2...56932301_zpid/

Happy to answer any questions you may have about Lynnfield. We've lived here 16 years and my wife has been a teacher here for over 20 years.
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Old 10-04-2021, 08:25 AM
 
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Quote:
Originally Posted by Bettafish View Post
I consider it "better" than Reading, Wakefield and so on, but according to Zillow, the sold prices are not a lot higher than the listed prices, so I wonder why.
Without knowing the comps you are comparing, and what the listing prices and sold prices are it's impossible to really answer that.

Lynnfield has always been an expensive town to buy into. $500-600K gets you something that needs a lot of work, or is 1000sf total. Plenty of $1Mil+ homes, but ~$800k will get you a nice house, albeit a tad on the smaller side.

Buyers looking at a $500-600K home in wakefield are not the same buyers looking at a 1mil home in Lynnfield. The lower prices homes tend to have more of a bidding war simply because there are more of them at that price range.



--------------

Slightly going off-topic, but i've always liked this house in Lynnfield on Main Street. I drive by it on my commute home every day and it's a house I always need to check out. Something about an mostly unrestored 1745 home make me curious to take a walk through there. The owner actually lives there. I've gone by at night and there are lights on and a car in the driveway.
https://www.redfin.com/MA/Lynnfield/..._campaign=copy
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Old 10-04-2021, 10:46 AM
 
Location: North of Boston
554 posts, read 688,830 times
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Quote:
Originally Posted by Bettafish View Post
I consider it "better" than Reading, Wakefield and so on, but according to Zillow, the sold prices are not a lot higher than the listed prices, so I wonder why.
As others noted, sold price vs list is a bad measure for popularity or anything else. some houses are listed low to drive traffic etc. That's a realtor, not town, specific tactic. Its worth pointing out that there are a small handful or realtors in Lynnfield that do the vast majority of listings.

Another thing to note is that Lynnfield's populations is many times smaller than some of the towns you listed (rough #s). This would likely lead to you hearing more about the others.

Lynnfield: 13k

Reading: 25k
Wakefield: 27k
Wilmington: 22k
Burlington: 26k

Lexington: 34k
Winchester: 22k
NOTE: These two would be considered nicer/better towns by most.

Anecdotally, a friend of mine was buying a house this summer (poor guy) and lost our on at least 6 houses in Lynnfield. Every single one went for >10% over ask. That 750k-950k bracket is hyper competitive. He ended up in Middleton.
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Old 10-16-2021, 08:51 PM
 
Location: Newburyport
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I grew up in the Merrimack Valley and have always perceived Lynnfield as far more prestigious than Burlington, Wakefield, Wilmington, and Reading. It’s a very posh town and people there definitely have old and new money. My cousin lives there and loves it. Great school system, educated people, close to shopping, restaurants, route 1, 95/128, and Boston.
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