Salem Mid-Year 2024 Market Review

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The median price of the SFHs sold in Salem in the first half of 2024 reached new highs – again – while the number of sales dropped, especially in Q2.
The median price of the Condos sold also rose, while sales were steady with the 2023 level.
Overall, 55% of Q1 sales and 70% of Q2 sales were over List Price

The median Price per Sq.Ft. can fluctuate Quarter to Quarter, but was consistent with the PSF in the second half of 2023 for SFHs and higher for Condos.
Sales continued at a brisk pace, reflecting both the shortage of supply and the continuing demand.

(DTO- Days To Offer – the number of days 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 34%, 65%, 71%, 54%, 55% and – most recently — 70%.

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

Marblehead Mid-Year 2024 Market Review
Swampscott Mid-Year 2024 Market Review
Essex County 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.”

Licensed in Massachusetts with Stuart St.James
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www.OliverReportsFL.com