Is Dracut, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Dracut has remained a Seller's Market.
Key Takeaway
Dracut is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Dracut, MA
How much do homes in Dracut, MA cost?
Median Sold Price
$480,000
$312/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Dracut have sold for 2.6% more than they did a year ago.
Summary: The median home sold price in Dracut was $480,000 in May 2024, up 2.6% from last year, and the median price per square foot was $312.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $197K | $221.4K | +12.4% |
| 2 Bedrooms | $317K | $340K | +7.3% |
| 3 Bedrooms | $489.9K | $534K | +9.0% |
| 4 Bedrooms | $600K | $666K | +11.0% |
| 5+ Bedrooms | $657K | $710K | +8.1% |
Summary: Dracut housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 12.4%, 2 bedroom homes increased by 7.3%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 11%, and 5+ bedroom homes increased by 8.1%.
Median Sold Price Compared To Nearby Cities
| Tyngsboro | $535K | $600K | +12.1% |
| Tyngsborough | $535K | $600K | +12.1% |
| Lowell | $430K | $469.9K | +9.3% |
| Dracut | $467.6K | $480K | +2.6% |
Housing Supply in Dracut, MA
How many homes are available in Dracut, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 63 | 80 | +27.0% |
Summary: The Dracut real estate market had 80 homes for sale in May 2024, a 27.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 1 | 0.0% |
| 2 Bedrooms | 23 | 35 | +52.2% |
| 3 Bedrooms | 25 | 26 | +4.0% |
| 4 Bedrooms | 10 | 14 | +40.0% |
| 5+ Bedrooms | 4 | 4 | 0.0% |
Summary: The Dracut housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 52.2%, 3 bedroom homes increased by 4%, 4 bedroom homes increased by 40%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 21 | 23 | +9.5% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Dracut, you could pay more than the asking price. 78.3% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Dracut in May 2024, up by 9.5% month-over-month. Of the 23 sold homes, 22% were sold under asking, 0% were sold at asking, and 78% were sold over asking.
Days on Market for Dracut, MA
How long does it take to sell a home in Dracut, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 20 Days | 20 Days | -0.4% |
Summary: Homes in Dracut had an average of 20 days on market in May 2024, down by 0.4% compared to last year.
Breakdown of Home Sale Times
21 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Dracut are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 23 homes were sold in Dracut; 91% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
