This month's market data, based on February 2022 stats, continued to show a very low inventory resulting in overall lower sales figures, yet maintaining overall average higher sales prices than February 2021 and a continued higher sales to list price ratio. 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: 140
AVG SALES PRICE
2021: $645,171
AVG DAYS TO OFFER
2021: 33
HOMES SOLD
2021: 110
SALES PRICE: LIST PRICE
2021: 100
Manchester and Essex thankfully saw an increase in new listings compared to 2021 as well as an increase in the average sales price, while days to offer increased and the number of homes sold was only 2 in the month of February.
NEW LISTINGS
2021: 4
AVG SALES PRICE
2021: $1,419,589
AVG DAYS TO OFFER
2021: 47
HOMES SOLD
2021: 3
SALES PRICE: LIST PRICE
2021: 96
Gloucester saw a noticeably higher average sales price compared to a year ago, while average days to offer is half of what it was in 2021 - down to only 11 days to offer.
NEW LISTINGS
2021: 15
AVG SALES PRICE
2021: $631,421
AVG DAYS TO OFFER
2021: 22
HOMES SOLD
2021: 14
SALES PRICE: LIST PRICE
2021: 101
Beverly was one of the few cities/towns that had an increase in new listings compared to 2021. Days to offer was significantly decreased to 16. Total homes sold were down from 2021 while sales to list price ratio increased.
NEW LISTINGS
2021: 21
AVG SALES PRICE
2021: $596,917
AVG DAYS TO OFFER
2021: 24
HOMES SOLD
2021: 24
SALES PRICE: LIST PRICE
2021: 100
Salem had a very good month in February compared to February 2021 with 40 new listings, up from 32 last year. Average sales price and sales to list price also saw a noticeable increase. Total homes sold was almost on par with 2021. Average days to offer was down to 19 from 28 in 2021.
NEW LISTINGS
2021: 32
AVG SALES PRICE
2021: $453,185
AVG DAYS TO OFFER
2021: 28
HOMES SOLD
2021: 33
SALES PRICE: LIST PRICE
2021: 102
Hamilton and Wenham's stats were greatly influenced by the continued lack of inventory. New listings were half of what it was in 2021. Demand is still high, as shown by its average 8 days to offer.
NEW LISTINGS
2021: 18
AVG SALES PRICE
2021: $1,095,973
AVG DAYS TO OFFER
2021: 86
HOMES SOLD
2021: 11
SALES PRICE: LIST PRICE
2021: 98
Ipswich did not fare as well in February 2022 as it did a year ago. New listings, average sales price, and sales to list price ratio were all down.
NEW LISTINGS
2021: 16
AVG SALES PRICE
2021: $629,456
AVG DAYS TO OFFER
2021: 30
HOMES SOLD
2021: 9
SALES PRICE: LIST PRICE
2021: 103
Like Hamilton + Wenham, Marblehead's stats were also greatly influenced by the lack of inventory with only 8 new listings, down from 22 in 2021. The number of homes sold was also half of what it was a year ago. Meanwhile, the average sales price was noticeably higher than 2021.
NEW LISTINGS
2021: 22
AVG SALES PRICE
2021: $670,356
AVG DAYS TO OFFER
2021: 24
HOMES SOLD
2021: 12
SALES PRICE: LIST PRICE
2021: 100
Due to the extremely low inventory and sales figures, the stats are greatly influenced by each sale. New listings were heavily decreased from 2021 with only 3 new listings, down from 12 in 2021. Average sales price was more than double what it was in 2021 at $1.5million+.
NEW LISTINGS
2021: 12
AVG SALES PRICE
2021: $706,000
AVG DAYS TO OFFER
2021: 53
HOMES SOLD
2021: 4
SALES PRICE: LIST PRICE
2021: 98
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