Beverly Q3 2017 Housing Market Report

Click here to download a pdf of this report.

Beverly has been a hot market in recent years. The median price of a Single Family Home (SFH) first broke through $400,000 in 2015 and in the first 9 months of 2017 increased by 6%. Sales were down a little from last year but in line with the average of the last 5 years.

Beverly Housing MArket

Beverly Housing Market

Look at the next two charts very carefully. The first chart shows that the median price of the condos sold in Beverly in the first 9 months of 2017 soared 31%. But now look at the second chart. While this appears to show that prices boomed in late 2016/early 2017 before collapsing, the reality is that this was the period of sales from Elliott Landing, with 60 such sales in MLS at a median price of just over $500,000. Post the Elliott Landing sales, the median price is returning to the earlier levels.
Beverly Housing MarketBeverly Housing Market

Andrew Oliver