Beverly Housing Market 2020 Review
The median Single Family Home (SFH) price in Beverly in 2020 increased 8.7% to $560,000, while the median condo price was 9.2% higher at $355,000.
For a more detailed report go to Team Harborside’s website: Beverly 2020 Review (more…)
Beverly Q3 Housing Market Report
[Click here to download a copy of this report]Single Family Homes (SFH)
The median price of SFHs sold in the first 9 months of 2020 (YTD Q3) increased 5.8% to $550,000. Sales were in line with 2019 and the median Days to Offer (DTO) was just 7 days. (more…)
Beverly 2019 Housing Market Summary
Single Family Homes (SFH)
After topping $500,000 in each of the first 3 Quarters, the median SFH price dropped back to $475,000 in Q4 as that Q saw a high percentage of sales under $500,000. Sales declined again and were the lowest since 2012.
Condos
The median condo price gained 13.6% to $325,000, but was lower than the 2017 level. Sales at Elliott Landing complicate comparisons from year to year.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
www.TeamHarborside.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Beverly Q3 2019 Housing Market Summary
[Click Beverly Q3 2019 Housing Market Summary to download a copy of this report.Single Family Homes (SFH)
After 8 consecutive quarters in 2017-18 in the $450,000-$475,000 range, the median price of Single Family Homes (SFH) sold in the first 9 months of 2019 (YTD Q3) jumped 10.3% to $520,000. Sales, however, were the lowest since 2012.
Condos
The median condo price YTD jumped 18.1% to $339,000, but was similar to the 2017 level of $340,000. While the drop in 2017 was caused by the end of sales at Elliott Landing, the increase in 2019 in both median price and sales seems to be more a reflection of strong buying interest in Beverly generally rather than any one new development.
NB Numbers in bold represent record levels. Sources: MLSPIN, OliverReports.com
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
www.TeamHarborside.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Beverly Mid-Year 2019 Housing Market Summary
[Click here to download a copy of the this report.]Single Family Homes (SFH)
After 8 consecutive quarters in the $450,000 -$475,000 range, the median price of Single Family Homes (SFH) sold in the first half of 2019 (H1 2019) jumped 10% to $520,000, while sales dropped 15%.
Condos
The median condo price jumped 23.2% to $345,000, but was below the 2017 level of $365,000. The fluctuations are largely caused by the number of higher-priced sales at Elliott Landing: 31 in 2017 (new construction), 1 in 2018 and 7 in 2019 (resales).
NB Numbers in bold represent record levels
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
www.TeamHarborside.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Beverly Q1 2019 Housing Market Review
[Click Beverly Q1 2019 Housing Market Review to download a pdf of this report.]The median price of the Single Family Homes (SFH) sold in Q1 2019 increased 15% compared with Q1 2018 to $525,000, the first time Beverly has recorded a quarterly median price above $500,000. Sales of SFHs, however, dropped from 53 to 37. (more…)
Beverly 2018 Housing Market By The Numbers
[Click here to download a copy of this report.]Single Family Homes (SFH)
After increasing by almost 25% over the three previous year, the median price of the SFHs sold in 2018 was virtually unchanged from 2017. Of note was the consistency of pricing throughout the year. Sales continued to decline from the 2016 peak.
Condos
The median price of condos sold in recent years has been distorted by the 65 sales at Elliott Landing, with a median price over $500,000, between Q4 2016 and Q3 2017. Since then the median price has mostly been in the $280,000-290,000 range.
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Beverly Q3 Report: Market Stable
(Click here to download a copy of this report.)
After the sharp rise of recent years, the median price of the 229 SFHs sold in the first 9 months of 2018 was essentially flat, as it has been for the past 7 quarters. (Numbers in bold represent record levels). (more…)
Beverly Housing Market Mid-Year 2018 Review
Click here to download a PDF of this report.
The median price of the Single Family Homes(SFH) sold in Beverly in the first half of 2018 was slightly lower than in 2017, a year which saw a sharp increase.
Since breaking $400,000 in 2015, the median price has increased sharply, with the usual quarterly fluctuations.
SFH Sales
Sales were in line with recent years.
SFH Sales by price
The percentage of sales under $400,000 was 44% in 2016 and 25% in both 2017 and 2018.
SFH For Sale
The biggest drop in inventory is in the $600,000-$1 million range, where the number for sale has dropped from 21 in 2016 to just 7 in 2018.
Condos
The apparent roller-coaster in the median price is explained by the development at Elliot Landing. Between Q3 2016 and Q2 2017, some 50 condos sold at a median price in excess of $500,000. The end of such sales has returned the median price to under $300,000.
Condo Sales
Note that the number of sales over $500,000 dropped from 26 in 2017 to just 2 in 2018, reflecting the completion of sales at Elliott Landing
Condos for sale
There is a similar story with condos for sale, with the number over $500,000 dropping from 28 in 2016 to 6 in 2018.
Summary
The pattern of SFH sales was very similar in the first half of both 2017 and 2018, coming after the market has been strong in recent years, especially since breaking through the $400,000 barrier.
Significant new developments in Essex County are usually of condominiums and usually for higher-priced units than the existing stock, which is why the median price can be distorted during times of large numbers of new sales. We saw this in Beverly with Elliott Landing and the same phenomenon is occurring now in Swampscott with the sales of condos at The Avery.
Sagan Harborside Sotheby’s International Realty
www.SaganHarborside.com
Beverly 2017 Housing Market Review
(Click here to download a copy of this report).
The price of the SFHs sold in Beverly in 2017 rose 6.9% to a new high of $470,000, taking the two-year gain to 16.5%. As with many markets, sales were down, reflecting the shortage of inventory.
OliverReports.com
The impact of rising prices can be seen in the huge drop in sales under $400,000 and increases above that price.
Condos
The median price of the condos sold in Beverly in 2017 increased nearly 15%, breaking through $300,000 for the first time. The biggest factor was that in late 2016 and the first 9 months of 2017 there were some 65 sales in MLS at Elliott Landing at a median price of just over $500,000.
Andrew Oliver
www.OliverReports.com
andrew.oliver@sothebysrealty.com
617.834.8205
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. (more…)
Beverly Mid-Year Review: By The Numbers
Beverly is seeing a lot of new construction, particularly in the condo market, and as new construction is generally of higher-priced properties, this construction moves the median price of homes sold upwards.
The median price of a Single Family Home (SFH) increased 8%, while sales dropped back from the 2016 level.
Oliver Reports, MLS
The most significant factor affecting the condo market in the last year has been the new Elliott Landing development of 73 higher-priced condos – of which just 6 remain for sale. The impact of Elliott Landing was evident in the second half of 2016 and the first half of 2017.
Oliver Reports, MLS
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Beverly 2016 Housing Market by the Numbers
The Beverly housing market sizzled in 2016. The median price of a Single Family Home (SFH) jumped 9% to a new record high on a 5% sales increase. While the median price of all condos sold soared 17%, the increase would have been a still strong 11% without the impact of 25 sales at the new Elliott Landing. (more…)
Beverly Q3 housing market report
Through the Third Quarter, the median price of a Single Family House(SFH) in Beverly rose nearly 10% to $440,000 and of a condo by 11% to almost $260,000, both reaching new all-time highs.
Source: MLS, Oliver Reports; peak numbers in bold
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Not sure which broker to use to sell your home? Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Beverly Mid-Year Housing Review: 9% price increase
After breaking through the $400,000 level for the median price* of a Single Family Home (SFH) in 2015 for the first time, the first half of 2016 saw a sharp 9% increase to a new high of $438,250.
In my Q1 review I wrote:”The median SFH price in Beverly is around $400,000. A year ago there were 19 houses available below this level, but today there are just 7. A similar pattern is seen in condos, where the median price is around $250,000. The number of condos for sale below this level is half that of a year ago.”
The reduction in inventory of lower-priced houses continues and is detailed later in this report. At some point, when demand exists as it does today, the lack of inventory at lower prices will translate into higher prices, as it now has in Beverly.
Low inventory + low mortgage rates + buyers looking = higher prices.
The condo market has also seen shrinkage in inventory at lower prices, although as yet this has produced only a 4% increase in the median price. (more…)
Recent Comments