This month's market data, based on March 2022 stats, inventory, while still very low, was more on par with 2021. We continued to see increased sales prices, though a lower number of total sales. The sales to list price ratio remained well over 100 in all of our market areas. Days to offer also continue to be quite low, with an average of 26 days to offer across our service areas. With inventory being so low, the average stats can be greatly influenced by a single transaction in a particular city or town.
Here is a look at the data for select cities and towns in the North Shore combined, based on MLS data for the month of February 2022 with comparison to February 2021. Overall we saw a decrease in new listings, increase in average sales price, lower days to offer, fewer homes sold, and a higher sales to list price ratio in 2022 from 2021.
NEW LISTINGS
2021: 257
AVG SALES PRICE
2021: $675,120
AVG DAYS TO OFFER
2021: 33
HOMES SOLD
2021: 142
SALES PRICE: LIST PRICE
2021: 101
Inventory in Manchester and Essex remains extremely low while the demand remains very high, as indicated by an average of only 9 days on market and 106 sales price to list price ratio. With an average of sales price of $2,167,833, Manchester and Essex had the highest sales price average amongst our North Shore service areas.
NEW LISTINGS
2021: 17
AVG SALES PRICE
2021: $1,615,563
AVG DAYS TO OFFER
2021: 82
HOMES SOLD
2021: 8
SALES PRICE: LIST PRICE
2021: 96
Gloucester's inventory of new listings was nearly on track with 2021 while having fewer homes sold and more average days to offer. Meanwhile, the average sales price and the sales price to list price ratio was also higher, indicating that the market is still hot in Gloucester.
NEW LISTINGS
2021: 30
AVG SALES PRICE
2021: $630,085
AVG DAYS TO OFFER
2021: 43
HOMES SOLD
2021: 26
SALES PRICE: LIST PRICE
2021: 99
Beverly's 2022 market data was very much on par with 2021. With a sales price to list price ratio of 104, on average homes are still selling well over asking price.
NEW LISTINGS
2021: 48
AVG SALES PRICE
2021: $509,364
AVG DAYS TO OFFER
2021: 8
HOMES SOLD
2021: 22
SALES PRICE: LIST PRICE
2021: 104
Salem was the only of our service areas that saw more homes sold in 2022 than in 2021. Average sales price was also up significantly from 2021 while the sales price to list price ratio and average days on market held strong and on par with 2021.
NEW LISTINGS
2021: 70
AVG SALES PRICE
2021: $456,284
AVG DAYS TO OFFER
2021: 12
HOMES SOLD
2021: 41
SALES PRICE: LIST PRICE
2021: 104
Hamilton and Wenham's saw a significant increase in average sales price, breaking the $1 million mark. Thankfully, new listings were on par with 2021, offering buyers more options.
NEW LISTINGS
2021: 26
AVG SALES PRICE
2021: $755,616
AVG DAYS TO OFFER
2021: 52
HOMES SOLD
2021: 11
SALES PRICE: LIST PRICE
2021: 99
Ipswich saw more inventory hit the market in 2022 than it did in 2021. Although the average sales price was down from 2021, the sales to list price ratio was much higher at 106. This shows us that the reason that the average sales price was down was because the average list price was not as high as 2021, but the homes that hit the market sell well over asking price.
NEW LISTINGS
2021: 18
AVG SALES PRICE
2021: $898,804
AVG DAYS TO OFFER
2021: 79
HOMES SOLD
2021: 15
SALES PRICE: LIST PRICE
2021: 102
Marblehead had a strong month with a significant increase in average sales price from 2021. Average days to offer was half of what it was in 2021 at just 12 days to offer and the sales to list price ratio was also increased.
NEW LISTINGS
2021: 37
AVG SALES PRICE
2021: $803,853
AVG DAYS TO OFFER
2021: 24
HOMES SOLD
2021: 15
SALES PRICE: LIST PRICE
2021: 101
Rockport continued to show that it is becoming a very hot market in the North Shore. April's market data continued to show an average sales price of over $1 million as it did in March's market data - both months were significantly increased from 2021. Most notable is the average of just 9 days to offer and an average sales to list price ratio of a whopping 117. So, if you're looking to make a move into Rockport, be ready to move quickly and to offer well over the asking price.
NEW LISTINGS
2021: 11
AVG SALES PRICE
2021: $698,750
AVG DAYS TO OFFER
2021: 42
HOMES SOLD
2021: 4
SALES PRICE: LIST PRICE
2021: 95
We'll get in touch with you soon.
