Massachusetts Home Buyer Guide

Peabody, MA Single-family Home Prices, Sales Up July 2011

The median price and sales of single-family homes in Peabody, Massachusetts increased in July 2011 compared to the previous July, according to data compiled using MLS Property Information Network, Inc, a local multiple listing service.

The median price of single-family homes rose 10.3 percent in July 2011 compared to the previous year, a difference of $30,000.  Single-family home sales in Peabody, MA increased 8 percent in July 2011, a difference of two sales compared to July 2010.  

In July 2011 the median price of condominiums decreased 26.9 percent, or $92,450 compared to July 2010; however, condo sales rose 16.6 percent during the same period, a difference of one sale.  

There were three multi-family home sales in July 2011, up from only two sales in the previous year.

Peabody, Massachusetts Real Estate Market Report

                Sales / Median Price
Single-family Homes:
July 2010 - 25 / $290,000
July 2011 - 27 / $320,000

Condominiums:
July 2010 - 6 / $342,450
July 2011 - 7 / $250,000

Multi-family Homes:
July 2010 - 2 / $257,250
July 2011 - 3 / $255,000

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Home Prices Rise in Peabody, MA May 2011

The median price of both single-family homes and condominiums in Peabody, Massachusetts increased, but sales of both decreased in May 2011, according to data compiled using MLS Property Information Network, Inc, a local multiple listing service.

The median price of single-family homes increased 19.3 percent in May 2011 compared to the previous year, a difference of $57,000.  Single-family home sales in Peabody, MA dropped 33.3 percent, with 10 less sales in May of 2011.

Condominium sales in Peabody, MA also declined in May, falling by two sales compared to May 2010, a 28.6 percent drop. The median price of condos increased 1.8 percent in May 2011, a difference of $3,500 compared to May 2010.

There was only one multi-family home sold in May 2011 in Peabody, MA, down from two sales in May 2010.

Peabody, Massachusetts Real Estate Market Report

                   Sales / Median Price

Single-family Homes:
May 2010 – 30 / $295,000
May 2011 – 20 / $352,000

Condominiums:
May 2010 – 7 / $200,000
May 2011 – 5/ $203,500    

Multi-family Homes:
May 2010 – 2 / $163,850
May 2011 – 1 / $279,000

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Peabody, MA Home Prices Down, Sales Up

Over the past four years single-family homes in Peabody, Massachusetts have decreased in median price each year. In 2009 home prices dropped below $300K for the first time, declining nearly $20,000, or 6.4 percent compared to 2008.

Since 2006 single-family home prices in Peabody, MA have fallen 18.8 percent, or by $69,000.

From 2006 to 2008 the number of single-family homes sold in Peabody dropped each year totaling a decrease of 8.9 percent in sales. After two years of decline in home sales, sales in 2009 increased 8.2 percent.

Over the past four years the amount of time single-family homes spent on the market has fluctuated. In 2008 homes spent the most amount of time on the market, up 8.65 percent from the previous year. Compared to 2008 the amount of time homes spent on the market dropped 21.2 percent in 2009.

The data come from MLS Property Information Network, Inc.

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Peabody, MA Real Estate Market Data

	Median Price	Number of Sales	Days on the Market
2006	$368,000	281	105
2007	$350,000	270	104
2008	$319,500	256	113
2009	$299,000	277	89