Is Manchester-by-the-Sea, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Manchester-by-the-Sea has remained a Seller's Market.
Key Takeaway
Manchester-by-the-Sea is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Manchester-by-the-Sea, MA
How much do homes in Manchester-by-the-Sea, MA cost?
Median Sold Price
$1,260,000
$495/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Manchester-by-the-Sea have sold for 32.3% more than they did a year ago.
Summary: The median home sold price in Manchester-by-the-Sea was $1,260,000 in May 2024, up 32.3% from last year, and the median price per square foot was $495.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $320K | $389.5K | +21.7% |
| 2 Bedrooms | $500K | - | N/A |
| 3 Bedrooms | $860K | $1.2M | +48.8% |
| 4 Bedrooms | $1.6M | $1.1M | -30.5% |
| 5+ Bedrooms | $3.0M | $2.9M | -0.2% |
Summary: Manchester-by-the-Sea housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.7%, 2 bedroom homes did not change, 3 bedroom homes increased by 48.8%, 4 bedroom homes decreased by 30.5%, and 5+ bedroom homes decreased by 0.2%.
Median Sold Price Compared To Nearby Cities
| Manchester | $952.5K | $1.2M | +34.4% |
| Manchester-by-the-Sea | $952.5K | $1.2M | +32.3% |
| Beverly | $621.6K | $675.6K | +8.7% |
| Essex | $755K | $800K | +6.0% |
| Gloucester | $620K | $632.5K | +2.0% |
Housing Supply in Manchester-by-the-Sea, MA
How many homes are available in Manchester-by-the-Sea, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 14 | 23 | +64.3% |
Summary: The Manchester-by-the-Sea real estate market had 23 homes for sale in May 2024, a 64.3% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 1 | 2 | +100.0% |
| 3 Bedrooms | 3 | 8 | +166.7% |
| 4 Bedrooms | 4 | 6 | +50.0% |
| 5+ Bedrooms | 5 | 7 | +40.0% |
Summary: The Manchester-by-the-Sea housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes increased by 100%, 3 bedroom homes increased by 166.7%, 4 bedroom homes increased by 50%, and 5+ bedroom homes increased by 40%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 3 | 4 | +33.3% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Manchester-by-the-Sea, you could pay more than the asking price. 75% of homes here sold above asking price last month.
Summary: A total of 4 homes were sold or pending in Manchester-by-the-Sea in May 2024, up by 33.3% month-over-month. Of the 4 sold homes, 0% were sold under asking, 25% were sold at asking, and 75% were sold over asking.
Days on Market for Manchester-by-the-Sea, MA
How long does it take to sell a home in Manchester-by-the-Sea, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 26 Days | 16 Days | -40.3% |
Summary: Homes in Manchester-by-the-Sea had an average of 16 days on market in May 2024, down by 40.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Manchester-by-the-Sea are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 4 homes were sold in Manchester-by-the-Sea; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
