Closing in on peak prices
The overall housing market is very close to peak levels, which generally occurred in 2005. For both Essex County and Massachusetts as a whole the median price in the first half of 2014 was just 3% below the 2005 peak.
There are several towns and cities, however, where today’s prices are still well below peak levels. The table below shows the numbers for the 17 North Shore towns I follow. I have also shown the number of sales, as a small number of sales can cause variations in the median price.
Source: MLS, Oliver Reports
Peak first half prices 2005 except: Beverly 2004; Lynnfield, Marblehead, Topsfield, Wenham 2006; Manchester 2007
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.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty
Affiliates LLC. Each Office Is Independently Owned and Operated
Andrew,
What a great graph! It tells me if you want to get top dollar now might be a good time to sell.
Chris