Essex County Mid-Year 2024 Market Review

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The median price of the SFHs sold in the 34 cities and towns in Essex County in H1 2024 continued to increase, reaching a new quarterly high. After declining from the 2021 peak level, sales were in line with the prior year.
The median price of the Condos sold was in line with the prior 12 months. Sales, while also well below their 2021 levels, had their best quarter since Q3 2022.
The record of sales taking place above List Price continued in 2024, with 50% of Q1 sales and 66% of Q2 sales, for SFs and Condos combined, above List Price.

The median Price per Sq.Ft. increased, especially in Q2. Sales continued at a brisk pace, reflecting both the shortage of supply and the continuing demand.
(DTO- Days To Offer – the number of before an accepted offer is received.)

Sales Mostly over List Price
The blue line in the table below represents the percentage of sales that took place over List Price – in the last 6 quarters it has been 49%, 69%, 64%, 55%, 50% and – most recently- 66%.

And read these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

My Property Tax reports mentioned at Town Meeting
Marblehead Mid-Year 2024 Market Review
Swampscott Mid-Year 2024 Market Review
Salem Mid-Year 2024 Market Review
Essex County Mid-Year 2024 Market Review: 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].

Andrew Oliver, M.B.E.,M.B.A.

REALTOR®

m 617.834.8205

www.OliverReportsMA.com

““If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. 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, Salem, Beverly, Lynn and Swampscott.”

“Thank you for the wonderful, wonderful job you do for the community (explanation of property tax process and calculation) – it is so helpful and so clearly explained.”

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www.OliverReportsFL.com