Is Peabody, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since August 2022
Since last year, Peabody has remained a Seller's Market.
Key Takeaway
Peabody is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices
How much do homes in Peabody, MA cost?
Median Sold Price
$587,833
$352/sqft
Based on all homes sold in the last 12 months.
Difference Since August 2022
Key Takeaway
Homes in Peabody have sold for 2.2% more than they did a year ago.
Summary: The median home sold price in Peabody was $587,833 in August 2023, up 2.2% from last year, and the median price per square foot was $352.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $296K | $332K | +12.2% |
| 2 Bedrooms | $430K | $475K | +10.5% |
| 3 Bedrooms | $590K | $600K | +1.7% |
| 4 Bedrooms | $670K | $649.9K | -3.0% |
| 5+ Bedrooms | $750K | $727.5K | -3.0% |
Summary: Peabody housing prices by bedroom type for August 2023 compared to the previous year: The home price of 1 bedroom homes increased by 12.2%, 2 bedroom homes increased by 10.5%, 3 bedroom homes increased by 1.7%, 4 bedroom homes decreased by 3%, and 5+ bedroom homes decreased by 3%.
Housing Supply
How many homes are available in Peabody, MA?
Number of Homes For Sale
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 82 | 75 | -8.5% |
Summary: The Peabody real estate market had 75 homes for sale in August 2023, a 8.5% decrease compared to July 2023.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 3 | +200.0% |
| 2 Bedrooms | 28 | 25 | -10.7% |
| 3 Bedrooms | 28 | 26 | -7.1% |
| 4 Bedrooms | 18 | 16 | -11.1% |
| 5+ Bedrooms | 7 | 5 | -28.6% |
Summary: The Peabody housing inventory by bedroom type for August 2023 compared to the previous month: The inventory of 1 bedroom homes increased by 200%, 2 bedroom homes decreased by 10.7%, 3 bedroom homes decreased by 7.1%, 4 bedroom homes decreased by 11.1%, and 5+ bedroom homes decreased by 28.6%.
Number of Homes Sold
| Jul 2023 | Aug 2023 | CHANGE |
|---|---|---|
| 40 | 30 | -25.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
25 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peabody, you could pay more than the asking price. 83.3% of homes here sold above asking price last month.
Summary: A total of 30 homes were sold or pending in Peabody in August 2023, down by 25.0% month-over-month. Of the 30 sold homes, 10% were sold under asking, 7% were sold at asking, and 83% were sold over asking.
Days on Market
How long does it take to sell a home in Peabody, MA?
Average Sale Time
| Aug 2022 | Aug 2023 | CHANGE |
|---|---|---|
| 21 Days | 15 Days | -27.9% |
Summary: Homes in Peabody had an average of 15 days on market in Aug 2023, down by 27.9% compared to last year.
Breakdown of Home Sale Times
28 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Peabody are selling fast, if you're buying plan to act quickly.
Summary: During August 2023, 30 homes were sold in Peabody; 93% of homes were sold within 30 days, 7% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
