Is Merrimac, MA a buyer’s or seller’s market?

Housing Market Conditions

Neutral
Market

Seller's
Market

Gauge showing Merrimac is a seller's market

Buyer's
Market

Difference Since September 2023

Since last year, Merrimac has remained a Seller's Market.

Key Takeaway

Merrimac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.

Housing Prices in Merrimac, MA

How much do homes in Merrimac, MA cost?

Median Sold Price

$642,000

$333/sqft

Based on all homes sold in the last 12 months.

Difference Since September 2023

+$79,500(+14.1%)

Key Takeaway

Homes in Merrimac have sold for 14.1% more than they did a year ago.

Summary: The median home sold price in Merrimac was $642,000 in September 2024, up 14.1% from last year, and the median price per square foot was $333.

Median Sold Price By Bedroom Count

# BEDSSep 2023Sep 2024CHANGE
1 $354.5K-
N/A
2 $470K$496K
+5.5%
3 $545K$615K
+12.8%
4 $849K$790K
-6.9%
5+ $1.0M$975K
-7.1%

Summary: Merrimac housing prices by bedroom type for September 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 5.5%, 3 bedroom homes increased by 12.8%, 4 bedroom homes decreased by 6.9%, and 5+ bedroom homes decreased by 7.1%.

Median Sold Price Compared To Nearby Cities

Merrimac
+14.1%
West Newbury
+11.2%
Amesbury Town
-2.9%
Amesbury
-2.9%

Housing Supply in Merrimac, MA

How many homes are available in Merrimac, MA?

Number of Homes For Sale

Aug 2024Sep 2024CHANGE
2120-4.8%

Summary: The Merrimac real estate market had 20 homes for sale in September 2024, a 4.8% decrease compared to August 2024.

Homes For Sale By Bedroom Count

# BEDSAug 2024Sep 2024CHANGE
1 00
0.0%
2 32
-33.3%
3 1112
+9.1%
4 76
-14.3%
5+ 00
0.0%

Summary: The Merrimac housing inventory by bedroom type for September 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 33.3%, 3 bedroom homes increased by 9.1%, 4 bedroom homes decreased by 14.3%, and 5+ bedroom homes remained the same.

Number of Homes Sold

Aug 2024Sep 2024CHANGE
85-37.5%

Asking Price vs. Sold Price

1 Home Was Sold
Under Asking

0 Homes Were Sold
At Asking

4 Homes Were Sold
Over Asking

Asking vs Sold - buyer

Key Takeaway

If you're buying a home in Merrimac, you could pay more than the asking price. 80% of homes here sold above asking price last month.

Summary: A total of 5 homes were sold or pending in Merrimac in September 2024, down by 37.5% month-over-month. Of the 5 sold homes, 20% were sold under asking, 0% were sold at asking, and 80% were sold over asking.

Days on Market for Merrimac, MA

How long does it take to sell a home in Merrimac, MA?

Average Sale Time

Sep 2023Sep 2024CHANGE
24 Days24 Days-1.4%

Summary: Homes in Merrimac had an average of 24 days on market in Sep 2024, down by 1.4% compared to last year.

Breakdown of Home Sale Times

3 Homes Were Sold
Under 30 Days

2 Homes Were Sold
In 30 - 90 Days

0 Homes Were Sold
Over 90 Days

Breakdown of Home Sale Times

Key Takeaway

Many homes in Merrimac are selling fast, if you're buying plan to act quickly.

Summary: During September 2024, 5 homes were sold in Merrimac; 60% of homes were sold within 30 days, 40% 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 30 Days Ago

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