This month's market data, based on June 2022 stats, showed a similar market to June 2021 with similar amount of new listings, similar average sales price, similar days to offer, similar number of homes sold, and similar sales to list price ratio across the North Shore. The data that we are seeing here shows us that the market is not as much in a downturn as some agents and news outlets predict and reinforces that we are in a market that is normalizing. Continue reading to see how things broke down across our various North Shore service areas.
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 June 2022 with comparison to June 2021.
NEW LISTINGS
2021: 284
AVG SALES PRICE
2021: $834,671
AVG DAYS TO OFFER
2021: 18
HOMES SOLD
2021: 243
SALES PRICE: LIST PRICE
2021: 106
Inventory in Manchester and Essex saw an increase from last year while days to offer also increased and number of homes sold decreased. June 2022 also saw an increase in the average sales price and sales price to list price ratio. The days to offer decreased from 50 to 30 from 2021 to 2022. Meanwhile, the same number of homes sold in 2022 as 2021, meaning there is more inventory heading into July 2022 than there was in July 2021.
NEW LISTINGS
2021: 11
AVG SALES PRICE
2021: $1,138,050
AVG DAYS TO OFFER
2021: 50
HOMES SOLD
2021: 10
SALES PRICE: LIST PRICE
2021: 101
Gloucester's data showed the same number of new listings from 2021 to 2022 while the number of homes sold slightly decreased, meaning there is more inventory heading into July 2022 than July 2021. The average sales price was lower in 2022, however the average list price was also lower, as proven by the same sales to list price ratio of 105 year over year. A notable stat was the average days to offer in July 2022 in Gloucester was only 9 compared to 35 in July 2022.
NEW LISTINGS
2021: 31
AVG SALES PRICE
2021: $984,432
AVG DAYS TO OFFER
2021: 35
HOMES SOLD
2021: 31
SALES PRICE: LIST PRICE
2021: 105
Beverly's 2022 market data showed significantly more new listings in 2022 with less homes sold, showing again that there is more inventory left heading into July 2022 than July 2021. The average days to offer stayed at a very low 11. Though the average sales price was lower, so was the average list price, however the average sales price to list price ratio in 2022 was a whopping 111, showing that homes are still selling well over asking price.
NEW LISTINGS
2021: 44
AVG SALES PRICE
2021: $785,035
AVG DAYS TO OFFER
2021: 11
HOMES SOLD
2021: 55
SALES PRICE: LIST PRICE
2021: 106
Salem proved to be a very hot market still with 71 new listings (far more than 2021) and 65 homes sold (increased from 2021), while the average days to offer and sales to list price ratio remained about the same year over year. The average sales price saw an 8% increase.
NEW LISTINGS
2021: 58
AVG SALES PRICE
2021: $492,389
AVG DAYS TO OFFER
2021: 8
HOMES SOLD
2021: 59
SALES PRICE: LIST PRICE
2021: 107
Hamilton + Wenham was one of the only areas that saw fewer new listings in 2022 than 2021. It also saw a fewer average days to offer and fewer homes sold. Meanwhile the average sales price and sales to list price ratio both improved from 2021.
NEW LISTINGS
2021: 36
AVG SALES PRICE
2021: $906,166
AVG DAYS TO OFFER
2021: 52
HOMES SOLD
2021: 34
SALES PRICE: LIST PRICE
2021: 106
Ipswich was another town that saw fewer new listings than 2021 while also seeing more homes sold and an increase in the average sales price and average sales to list price ratio. Ipswich also saw a similar average days to offer year over year.
NEW LISTINGS
2021: 31
AVG SALES PRICE
2021: $705,632
AVG DAYS TO OFFER
2021: 15
HOMES SOLD
2021: 19
SALES PRICE: LIST PRICE
2021: 104
Marblehead's data showed a very similar market in 2022 to 2021 with similar number of new listings, average sales price, average days to offer, number of homes sold, and sales to list price ratio.
NEW LISTINGS
2021: 43
AVG SALES PRICE
2021: $1,173,016
AVG DAYS TO OFFER
2021: 11
HOMES SOLD
2021: 38
SALES PRICE: LIST PRICE
2021: 109
Rockport was one of the only towns that had fewer new listings and also fewer sales year-over-year. The average sales price was also lower, however the average list price was significantly lower ($693,138 in 2022 vs $1,198,000 in 2021). The average sale to list price ratio of 106 and average of only 9 days to offer tells us that the homes that were on the market sold more quickly and far more over asking price than 2021.
NEW LISTINGS
2021: 22
AVG SALES PRICE
2021: $1,198,000
AVG DAYS TO OFFER
2021: 24
HOMES SOLD
2021: 9
SALES PRICE: LIST PRICE
2021: 100
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