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
$989,000
$867/sqft
Based on all homes sold in the last 12 months.
Difference Since April 2023
Key Takeaway
Homes in Peabody have sold for 6.6% more than they did a year ago.
Summary: The median home sold price in Peabody was $989,000 in April 2024, up 6.6% from last year, and the median price per square foot was $867.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Apr 2023 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $600K | $638K | +6.3% |
| 2 Bedrooms | $870.5K | $920K | +5.7% |
| 3 Bedrooms | $1.5M | $1.6M | +3.9% |
| 4 Bedrooms | $3.8M | $1.8M | -52.3% |
| 5+ Bedrooms | $2.7M | $2.5M | -8.6% |
Summary: Peabody housing prices by bedroom type for April 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.3%, 2 bedroom homes increased by 5.7%, 3 bedroom homes increased by 3.9%, 4 bedroom homes decreased by 52.3%, and 5+ bedroom homes decreased by 8.6%.
Median Sold Price Compared To Nearby Neighborhoods
| Peabody | $928K | $989K | +6.6% |
| West Cambridge | $1.7M | $1.6M | -5.2% |
| Harvard Square | $1.5M | $1.1M | -25.9% |
| Porter Square | $1.3M | $882K | -35.9% |
Housing Supply in Peabody, MA
How many homes are available in Peabody, MA?
Number of Homes For Sale
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 24 | 38 | +58.3% |
Summary: The Peabody real estate market had 38 homes for sale in April 2024, a 58.3% increase compared to March 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 7 | 9 | +28.6% |
| 2 Bedrooms | 8 | 12 | +50.0% |
| 3 Bedrooms | 4 | 8 | +100.0% |
| 4 Bedrooms | 2 | 4 | +100.0% |
| 5+ Bedrooms | 3 | 5 | +66.7% |
Summary: The Peabody housing inventory by bedroom type for April 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 28.6%, 2 bedroom homes increased by 50%, 3 bedroom homes increased by 100%, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 66.7%.
Number of Homes Sold
| Mar 2024 | Apr 2024 | CHANGE |
|---|---|---|
| 5 | 8 | +60.0% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
3 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peabody, you may be able to get a good deal. 37.5% of homes here sold below asking price last month.
Summary: A total of 8 homes were sold or pending in Peabody in April 2024, up by 60.0% month-over-month. Of the 8 sold homes, 38% were sold under asking, 25% were sold at asking, and 38% 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 |
|---|---|---|
| 22 Days | 17 Days | -23.2% |
Summary: Homes in Peabody had an average of 17 days on market in Apr 2024, down by 23.2% compared to last year.
Breakdown of Home Sale Times
7 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, 8 homes were sold in Peabody; 88% of homes were sold within 30 days, 13% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
