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 February 2023

At the same time last year, Manchester-by-the-Sea was a Buyer'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

$503/sqft

Based on all homes sold in the last 12 months.

Difference Since February 2023

+$160,000(+14.5%)

Key Takeaway

Homes in Manchester-by-the-Sea have sold for 14.5% more than they did a year ago.

Summary: The median home sold price in Manchester-by-the-Sea was $1,260,000 in February 2024, up 14.5% from last year, and the median price per square foot was $503.

Median Sold Price By Bedroom Count

# BEDSFeb 2023Feb 2024CHANGE
1 $320K$389.5K
+21.7%
2 $500K$555K
+11.0%
3 $840K$976K
+16.2%
4 $1.6M$1.2M
-24.7%
5+ $2.0M$4.8M
+130.5%

Summary: Manchester-by-the-Sea housing prices by bedroom type for February 2024 compared to the previous year: The home price of 1 bedroom homes increased by 21.7%, 2 bedroom homes increased by 11%, 3 bedroom homes increased by 16.2%, 4 bedroom homes decreased by 24.7%, and 5+ bedroom homes increased by 130.5%.

Median Sold Price Compared To Nearby Cities

Manchester-by-the-Sea
+14.5%
Manchester
+14.5%
Essex
+13.2%
Beverly
+11.6%
Gloucester
-0.8%

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

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

Number of Homes For Sale

Jan 2024Feb 2024CHANGE
1715-11.8%

Summary: The Manchester-by-the-Sea real estate market had 15 homes for sale in February 2024, a 11.8% decrease compared to January 2024.

Homes For Sale By Bedroom Count

# BEDSJan 2024Feb 2024CHANGE
1 00
0.0%
2 01
+100.0%
3 52
-60.0%
4 44
0.0%
5+ 88
0.0%

Summary: The Manchester-by-the-Sea housing inventory by bedroom type for February 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 100%, 3 bedroom homes decreased by 60%, 4 bedroom homes remained the same, and 5+ bedroom homes remained the same.

Number of Homes Sold

Jan 2024Feb 2024CHANGE
34+33.3%

Asking Price vs. Sold Price

4 Homes Were Sold
Under Asking

0 Homes Were Sold
At Asking

0 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Manchester-by-the-Sea, you may be able to get a good deal. 100% of homes here sold below asking price last month.

Summary: A total of 4 homes were sold or pending in Manchester-by-the-Sea in February 2024, up by 33.3% month-over-month. Of the 4 sold homes, 100% were sold under asking, 0% were sold at asking, and 0% 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

Feb 2023Feb 2024CHANGE
82 Days135 Days+65.2%

Summary: Homes in Manchester-by-the-Sea had an average of 135 days on market in Feb 2024, up by 65.2% compared to last year.

Breakdown of Home Sale Times

0 Homes Were Sold
Under 30 Days

1 Home Was Sold
In 30 - 90 Days

3 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Most homes in Manchester-by-the-Sea are taking a long time to sell, it's a good idea to negotiate on homes here.

Summary: During February 2024, 4 homes were sold in Manchester-by-the-Sea; 0% of homes were sold within 30 days, 25% of homes were sold within 30 to 90 days, and 75% 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 27 Days Ago

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