Manchester-By-The-Sea Q3 2021 Market Report

Key Metrics

Single Family Homes (SFH)

The median price of the SFHs sold in Manchester in the first 9 months of 2021 (YTD 2021) increased 32.9% to $1,176,000. Sales have been between 42 and 52 in each of the last 10 years.

As the percentage of sales over $1 million increased from 43% in YTD 2020 to 52% in 2021, so the median price moved from under to over $1 million. Sales above that figure increased from 22 to 26, with 11 sales over $2 million, up from 4 in 2020.

Small numbers can exaggerate percentages, but 44% of SFH sales were over list YTD 2021 (vs 21% in 2020), with 14% of sales at 110% or more of list compared with none in 2020.
Condos
There were just 3 Condo sales YTD in 2021 – at $370,000, $411,500 and $1.1 million.
Since 2017 there has been a total of 40 Condo sales, in a range of buildings with 2-11 units

Comment
In the first 9 months of the year the median price of SFHs sold in Essex County increased 14.1% to $607,500, while the median Condo price increased 10.2% to $385,000. The median SFH price in Essex County declined from Q2 to Q3 (but not in Swampscott), while the median Condo price increased slightly. While quarter to quarter fluctuations are common, these numbers confirm the anecdotal reports that the frenetic activity earlier in the year eased somewhat in Q3.

After a short rally above 3% early in the year, the national average cost of a 30-year Fixed-Rate Mortgage (FRM) quickly dropped back below 3% before rallying back above 3% in October.

Source: MLSPIN, OliverReportsMA.com

Fall Market Report
Latest Housing Inventory and Market Activity
Mortgage Rates back to 3% – again
How much does it cost to live in each town in Essex County?
Flood Insurance Changes Coming Oct 1
Naples September Market Overview
Essex County 2021 Residential Property Tax Rates: a Town by Town guide

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or [email protected].

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Sale, Beverly, Lynn and Swampscott.”

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205

www.OliverReports.com
[email protected]

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®

Naples, Bonita Springs and Fort Myers
[email protected]
m. 617.834.8205

www.AndrewOliverRealtor.com

www.OliverReportsFL