Is Beverly, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Beverly has remained a Seller's Market.
Key Takeaway
Beverly is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Beverly, MA
How much do homes in Beverly, MA cost?
Median Sold Price
$675,666
$427/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Beverly have sold for 8.7% more than they did a year ago.
Summary: The median home sold price in Beverly was $675,666 in May 2024, up 8.7% from last year, and the median price per square foot was $427.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $325K | $385K | +18.5% |
| 2 Bedrooms | $465K | $548.7K | +18.0% |
| 3 Bedrooms | $602.5K | $675K | +12.0% |
| 4 Bedrooms | $760K | $800K | +5.3% |
| 5+ Bedrooms | $825K | $987.5K | +19.7% |
Summary: Beverly housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 18.5%, 2 bedroom homes increased by 18%, 3 bedroom homes increased by 12%, 4 bedroom homes increased by 5.3%, and 5+ bedroom homes increased by 19.7%.
Median Sold Price Compared To Nearby Cities
| Wenham | $900K | $1.1M | +33.1% |
| Manchester-by-the-Sea | $952.5K | $1.2M | +32.3% |
| Beverly | $621.6K | $675.6K | +8.7% |
| Salem | $540K | $560K | +3.7% |
Housing Supply in Beverly, MA
How many homes are available in Beverly, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 84 | 88 | +4.8% |
Summary: The Beverly real estate market had 88 homes for sale in May 2024, a 4.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 21 | 15 | -28.6% |
| 3 Bedrooms | 35 | 34 | -2.9% |
| 4 Bedrooms | 21 | 25 | +19.0% |
| 5+ Bedrooms | 5 | 12 | +140.0% |
Summary: The Beverly housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 28.6%, 3 bedroom homes decreased by 2.9%, 4 bedroom homes increased by 19%, and 5+ bedroom homes increased by 140%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 26 | 26 | 0.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
21 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Beverly, you could pay more than the asking price. 80.8% of homes here sold above asking price last month.
Summary: A total of 26 homes were sold or pending in Beverly in May 2024, the same as the previous month. Of the 26 sold homes, 19% were sold under asking, 0% were sold at asking, and 81% were sold over asking.
Days on Market for Beverly, MA
How long does it take to sell a home in Beverly, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 19 Days | 14 Days | -25.0% |
Summary: Homes in Beverly had an average of 14 days on market in May 2024, down by 25% compared to last year.
Breakdown of Home Sale Times
25 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 Beverly are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 26 homes were sold in Beverly; 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.
