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You are here: Home / Market Reports / Lawrence Monthly Multi-Family Market Data

Lawrence Monthly Multi-Family Market Data

Lawrence is a city in Essex County, Massachusetts, along the Merrimack River.  Surrounding communities include Methuen to the north, Andover to the southwest, and North Andover to the southeast. Lawrence is also part of the Merrimack Valley. Manufacturing products of the city include electronic equipment, textiles, footwear, paper products, computers, and foodstuffs. Lawrence was the residence of poet Robert Frost for his early school years. His essays were first put out in the Lawrence High School newspaper.

The population of Lawrence is 80,209. There are 24,463 households, and 16,903 families residing in the city. The population density was 3,996.5/km² people per square mile. There were 25,601 housing units at an average density of (1,420.2/km²) per square mile.

The racial makeup of the city was 72.4% White, 12.3% African American, 3.6% Asian, 0.1% Native American, Lawrence, MA Multi-family Property Market Dataand 5.5% from other races.

The median income for a household in the city was $41,994, and the median income for a family was $50,046. The per capita income for the city was $11,360. About 9.2% of families and 12.4% of the population were below the poverty line, including 31.7% of those under age 18 and 20.1% of those age 65 or over.

Lawrence, MA Multi-family Property Market Data for 2017

The following set of numbers are the key indicators for the Lawrence multifamily market. The city of Lawrence has roughly 5,325 properties according public records. We will update this list on a monthly basis with the three primary market drivers. View Lawrence listings here.

Number of Sales

2018-2 12
2018-1 19
2017-12 13
2017-11 21
2017-10 22
2017-9 23
2017-8 7
2017-7 22
2017-6 22
2017-5 23
2017-4 17
2017-3 20

Average Days on Market

2018-2 85
2018-1 39
2017-12 31
2017-11 43
2017-10 34
2017-9 46
2017-8 16
2017-7 28
2017-6 64
2017-5 62
2017-4 72
2017-3 54

Average Sales Price

2018-2 $358,333
2018-1 $412,274
2017-12 $392,531
2017-11 $368,552
2017-10 $380,227
2017-9 $358,750
2017-8 $375,400
2017-7 $407,495
2017-6 $374,064
2017-5 $350,017
2017-4 $330,412
2017-3 $351,725

Recently Sold Multi-family Properties

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Multi-family Expert

Steve Martin, Realtor
Wellsco, LLC
(617) 212-3251 direct
(978) 518-1481 office

Customer Reviews

Steve Martin is a gem!  We have bought and sold many properties over the years and this last one was with Steve’s management.  Within a very short period of time, Steve brought us qualified buyers; not people just looking.  And, therefore, the sale went quickly and smoothly.  Steve knows his market and his social media methods of communication are astounding.  With Steve’s expertise, knowledge of the real estate market and easy but professional manner, he brought three bids over price the first week the house was on the market.  Pretty impressive!  I wish I had more properties to sell!

Vicki and Jim Dyer, Newburyport MA

The information you guys provide is a great starting point to quickly locate and identify which properties that we like to further explore and do due diligence on.

Robert Brooks, Boston, MA

My wife and I recently purchased a multi-family home in Amesbury, MA. Stephen Martin helped us with the purchase. His knowledge of the multi-family market and his professionalism as a real estate agent are a unique combination. Those skills were critical to making the purchasing process smooth. He has excellent communication skills, is easy to reach, and was very responsive to any questions or concerns that we had. We highly recommend his services.

Barry Hazard & Sarah Gindel, Amesbury, MA

Thank you for all your help and insights during my buying process. I greatly appreciate you and have the utmost respect for how professional you were throughout the process. I admire your expertise in the multi-family arena and appreciated your patience in answering all my questions and offering referral sources. I enjoyed working  with you and look forward to doing more deals with you in the future. All the best! 

Kerry Goyette – 3-Unit Purchase in Amesbury

Love your site, within minutes we had full financial breakdowns on several properties and knew within 15 minutes which properties that I wanted to follow up on to do more research.

Mike & Dianne Cross, Haverhill, MA

I had the opportunity to work with Steve and found him to be incredibly polite, polished and most importantly a great listener.  I immediately sensed Steve would be someone I could readily work with, as he listened quite intently to my thoughts and concerns, and his responses were genuine, honest and very easy to follow.Throughout my experience working with Steve, despite some typical hiccups which invariably arise with sales and purchases during a frenetic housing market, Steve’s demeanor remained calm, steady and purposeful.  Steve is very responsive and receptive to his clients’ needs.  He takes the time to explain things clearly; and is always patient, polite and presents himself as a genuinely nice guy.For these reasons, I can attest it was a pleasure working with Steve, I would most definitely utilize Steve and recommend his services to others.

Nina Lentz, Swampscott, MA

You guys found a way to do it right and make it look sexy and appealing and easy.

Douglas Hoover, Brockton, MA

As a first time investor, only 25 years old, interested in pursuing real-estate as both an investment and as a primary residence Stephen and his team were incredibly helpful in walking me through my first investment. I was discouraged with the presiding market as I was priced out of most multi families. Stephen had an off-market property that he thought would be a great fit for me. As soon as I saw the property and the location I fell in love with it. His website platform is unique and practical. It translated very well to what I was looking for and because of that I found what I believe to be a very good investment in short order. I believe that building relationships in the real estate market (like any other market/ industry) allows people like Stephen to provide a better, more competitive service. Since Stephen has focused only on multi families this allows him to ignore much of the chaff that inundates the housing market to help his clients find what they want for the price they want.  I hope to give Stephen a lot of repeat business in the future and I think our relationship will be mutually beneficial.

Alexander Colby – Amesbury, MA

We are very happy to recommend Steve Martin.  Steve helped us sell our multi-unit building in Newburyport.  From the time we signed the agreement with him to closing took less than 3 weeks.  Steve is brilliant at his job.  He suggested a low price of $499k (which at first disappointed us because we wanted $530k), but he said he wanted to bring in many buyers and create a bidding war.  And he succeeded.  He bought in over 70 potential buyers and we ended up getting more than 25% over our asking price! We ending up selling for $605k  Steve worked tirelessly for us: constantly in touch with us, our lawyer and buyer’s broker.  Steve is polite, talented and charming.  We highly recommend his services.

Anne Dodge and Charles Kennedy, Newburyport, MA

You guys get it. Time is money, and knowledge is power. Great service that provides a much needed void in the market place; real value add here.

Dale Spencer, Watertown, MA

Mortgage Services

Buy a Multi-family Property with as Little as 3.5% Down

Contact Kevin Potter
CrossCountry Mortgage, Inc.
Call Direct at 978.548.4464
kevin.potter@myccmortgage.com
NMLS# 1401242 | NMLS 3029 | NMLS 41781

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Wellsco Realty · 40R Merrimac Street, Newburyport, MA · (617) 212-3251

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