Is Beverly, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
Since last year, Beverly has remained a Seller's Market.
Key Takeaway
Beverly is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Beverly, MA
How much do homes in Beverly, MA cost?
Median Sold Price
$680,000
$418/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Beverly have sold for 9.7% more than they did a year ago.
Summary: The median home sold price in Beverly was $680,000 in March 2024, up 9.7% from last year, and the median price per square foot was $418.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $327K | $393.9K | +20.5% |
| 2 Bedrooms | $458.5K | $546.2K | +19.1% |
| 3 Bedrooms | $610K | $650K | +6.6% |
| 4 Bedrooms | $762.5K | $790K | +3.6% |
| 5+ Bedrooms | $882.5K | $912.4K | +3.4% |
Summary: Beverly housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes increased by 20.5%, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 6.6%, 4 bedroom homes increased by 3.6%, and 5+ bedroom homes increased by 3.4%.
Median Sold Price Compared To Nearby Cities
| Manchester-by-the-Sea | $952.5K | $1.2M | +32.3% |
| Beverly | $620K | $680K | +9.7% |
| Salem | $537.6K | $549.9K | +2.3% |
| Wenham | $1.2M | $975K | -18.8% |
Housing Supply in Beverly, MA
How many homes are available in Beverly, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 62 | 63 | +1.6% |
Summary: The Beverly real estate market had 63 homes for sale in March 2024, a 1.6% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 4 | 0.0% |
| 2 Bedrooms | 11 | 11 | 0.0% |
| 3 Bedrooms | 20 | 24 | +20.0% |
| 4 Bedrooms | 21 | 18 | -14.3% |
| 5+ Bedrooms | 6 | 6 | 0.0% |
Summary: The Beverly housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes remained the same, 3 bedroom homes increased by 20%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 11 | 25 | +127.3% |
Asking Price vs. Sold Price
11 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
13 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Beverly, you could pay more than the asking price. 52% of homes here sold above asking price last month.
Summary: A total of 25 homes were sold or pending in Beverly in March 2024, up by 127.3% month-over-month. Of the 25 sold homes, 44% were sold under asking, 4% were sold at asking, and 52% were sold over asking.
Days on Market for Beverly, MA
How long does it take to sell a home in Beverly, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 58 Days | 43 Days | -24.5% |
Summary: Homes in Beverly had an average of 43 days on market in Mar 2024, down by 24.5% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Beverly are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 25 homes were sold in Beverly; 72% of homes were sold within 30 days, 16% of homes were sold within 30 to 90 days, and 12% of homes were sold over 90 days.
