Is Manchester-by-the-Sea, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Manchester-by-the-Sea is a seller's market

Buyer's
Market

Difference Since October 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

$1,075,000

$540/sqft

Based on all homes sold in the last 12 months.

Difference Since October 2023

-$167,500(-13.5%)

Key Takeaway

Homes in Manchester-by-the-Sea have sold for 13.5% less than they did a year ago.

Summary: The median home sold price in Manchester-by-the-Sea was $1,075,000 in October 2024, down 13.5% from last year, and the median price per square foot was $540.

Median Sold Price By Bedroom Count

# BEDSOct 2023Oct 2024CHANGE
1 $282.5K$525K
+85.8%
2 $527.5K$685K
+29.9%
3 $882.5K$1.0M
+16.1%
4 $1.4M$1.2M
-15.4%
5+ $3.2M$3.2M
-1.2%

Summary: Manchester-by-the-Sea housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes increased by 85.8%, 2 bedroom homes increased by 29.9%, 3 bedroom homes increased by 16.1%, 4 bedroom homes decreased by 15.4%, and 5+ bedroom homes decreased by 1.2%.

Median Sold Price Compared To Nearby Cities

Gloucester
+9.3%
Beverly
+8.0%
Essex
0.0%
Manchester-by-the-Sea
-13.5%
Manchester
-14.7%

Housing Supply in Manchester-by-the-Sea, MA

How many homes are available in Manchester-by-the-Sea, MA?

Number of Homes For Sale

Sep 2024Oct 2024CHANGE
2227+22.7%

Summary: The Manchester-by-the-Sea real estate market had 27 homes for sale in October 2024, a 22.7% increase compared to September 2024.

Homes For Sale By Bedroom Count

# BEDSSep 2024Oct 2024CHANGE
1 00
0.0%
2 22
0.0%
3 510
+100.0%
4 88
0.0%
5+ 77
0.0%

Summary: The Manchester-by-the-Sea housing inventory by bedroom type for October 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 100%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Sep 2024Oct 2024CHANGE
36+100.0%

Asking Price vs. Sold Price

2 Homes Were Sold
Under Asking

1 Home Was Sold
At Asking

3 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Manchester-by-the-Sea, you could pay more than the asking price. 50% of homes here sold above asking price last month.

Summary: A total of 6 homes were sold or pending in Manchester-by-the-Sea in October 2024, up by 100.0% month-over-month. Of the 6 sold homes, 33% were sold under asking, 17% were sold at asking, and 50% 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

Oct 2023Oct 2024CHANGE
28 Days28 Days0.3%

Summary: Homes in Manchester-by-the-Sea had an average of 28 days on market in Oct 2024, up by 0.3% compared to last year.

Breakdown of Home Sale Times

5 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Manchester-by-the-Sea are selling fast, if you're buying plan to act quickly.

Summary: During October 2024, 6 homes were sold in Manchester-by-the-Sea; 83% of homes were sold within 30 days, 17% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.

Housing Market Reports are calculated by Rocket Homes Real Estate and based on information from the MLS.

Report Updated 6 Days Ago

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