Is Peabody, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since April 2023
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 in Peabody, MA
How much do homes in Peabody, MA cost?
Median Sold Price
$615,000
$374/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Peabody have sold for 7% more than they did a year ago.
Summary: The median home sold price in Peabody was $615,000 in April 2024, up 7% from last year, and the median price per square foot was $374.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $292.5K | $370K | +26.5% |
| 2 Bedrooms | $450K | $497.5K | +10.6% |
| 3 Bedrooms | $594.7K | $619K | +4.1% |
| 4 Bedrooms | $671K | $692.5K | +3.2% |
| 5+ Bedrooms | $740K | $765K | +3.4% |
Summary: Peabody housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 26.5%, 2 bedroom homes increased by 10.6%, 3 bedroom homes increased by 4.1%, 4 bedroom homes increased by 3.2%, and 5+ bedroom homes increased by 3.4%.
Housing Supply in Peabody, MA
How many homes are available in Peabody, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 65 | 75 | +15.4% |
Summary: The Peabody real estate market had 75 homes for sale in April 2024, a 15.4% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 3 | +100.0% |
| 2 Bedrooms | 18 | 15 | -16.7% |
| 3 Bedrooms | 23 | 30 | +30.4% |
| 4 Bedrooms | 21 | 21 | 0.0% |
| 5+ Bedrooms | 3 | 6 | +100.0% |
Summary: The Peabody housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 100%, 2 bedroom homes decreased by 16.7%, 3 bedroom homes increased by 30.4%, 4 bedroom homes remained the same, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 20 | 23 | +15.0% |
Asking Price vs. Sold Price
6 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peabody, you could pay more than the asking price. 73.9% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Peabody in April 2024, up by 15.0% month-over-month. Of the 23 sold homes, 26% were sold under asking, 0% were sold at asking, and 74% were sold over asking.
Days on Market for Peabody, MA
How long does it take to sell a home in Peabody, MA?
Average Sale Time
| Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|
| 34 Days | 16 Days | -53.7% |
Summary: Homes in Peabody had an average of 16 days on market in Apr 2024, down by 53.7% compared to last year.
Breakdown of Home Sale Times
22 Homes Were Sold
Under 30 Days
1 Home Was 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 April 2024, 23 homes were sold in Peabody; 96% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
