Beverly 2015 Housing Market Summary

This Beverly 2015 Housing Market Summary post shows just the numbers for 2015. When I publish my detailed reviews I will add a link here.

                                                                          Source: MLS, Oliver Reports

One way I measure prices is by the ratio (ASR) of Assessed Value (AV) to Sales Price (SP). The ASR is the AV divided by the SP: if the SP is rising (prices going up), the ASR will fall.

Properties selling above their AV will have an ASR below 100%. What this means is that in a period of rising prices the ASR is likely to be falling.  So what we, as homeowners, want is an ASR below 100% and falling.

Remember that AVs are a lagging indicator: the tax bills that have just been sent out for FY2016 are based on actual sales in 2014. Thus the 2015 sales data, reported in this review, will be the basis for FY2017 assessments.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Read How should I choose the broker to sell my home?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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