Essex County Weekly Market Report: Your Unparalleled Guide to the Latest in North Shore Real Estate Trends
Welcome to your one-stop guide for everything you need to know about the real estate market in Essex County. Not just a superficial overview, but a rigorous, data-driven insight into homes new to the market, homes with price changes, properties that have gone under agreement, and properties sold in the last week. This article also dissects the critical metric often overlooked—the gap between the original list price and the final sold price of properties. Armed with this knowledge, you are not just ahead of the curve—you are setting the curve.
This week, Essex County welcomed 100 new listings. Among these, the towns of Ipswich and Beverly feature prominently, offering properties ranging from cozy 2-bedroom homes to luxurious 5-bedroom estates.
The average listing price stood at $856,789, offering a variety of options for both first-time buyers and seasoned property investors.
Price changes are the subtle but significant shifts in the real estate landscape. This week, 22 homes underwent price changes—an essential metric for buyers looking for potentially undervalued properties. Most of these properties were in the mid-range bracket, between $699,900 and $2,895,000, possibly offering room for negotiation and a strategic purchase.
For the week under review, 82 homes moved from 'available' to 'under agreement,' indicating a buoyant and fast-moving market. These houses had an median of just 19 days on the market, emphasizing the need for prospective buyers to act quickly
Of the homes that crossed the finishing line this week, 89 were successfully sold, varying in price from $265,000 to an extravagant $2,650,000 estate in Andover. When we look at these numbers, it's not just about the sale but also about the journey—the original list price versus the sold price.
The Gap: Original List Price vs. Sold Price
Understanding the gap between the original list price and the sold price is critical. For the homes sold this week, the gap averaged at 104%.
Conclusion: The Strategic Buyer's Dream
The Essex County Weekly Market Report is not just data; it's your strategic arsenal for intelligent real estate investment. With the comprehensive metrics and insights presented here, you're equipped to make informed, lucrative decisions. Whether you are a seasoned investor, a curious onlooker, or someone considering taking that crucial first step in the real estate market, this report serves as your invaluable tool.
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Kathleen Militello, REALTOR®
THE MILITELLO TEAM
call (978-500-1480) if you have any questions or if you know someone you would like to refer to me that needs my help.