Is Merrimac, 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, Merrimac has remained a Seller's Market.
Key Takeaway
Merrimac is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Merrimac, MA
How much do homes in Merrimac, MA cost?
Median Sold Price
$622,500
$333/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Merrimac have sold for 11.2% more than they did a year ago.
Summary: The median home sold price in Merrimac was $622,500 in May 2024, up 11.2% from last year, and the median price per square foot was $333.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $354.5K | - | N/A |
| 2 Bedrooms | $449K | $569.9K | +26.9% |
| 3 Bedrooms | $545K | $562.5K | +3.2% |
| 4 Bedrooms | $874.5K | $674.5K | -22.9% |
| 5+ Bedrooms | $705K | $975K | +38.3% |
Summary: Merrimac housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 26.9%, 3 bedroom homes increased by 3.2%, 4 bedroom homes decreased by 22.9%, and 5+ bedroom homes increased by 38.3%.
Median Sold Price Compared To Nearby Cities
| Merrimac | $560K | $622.5K | +11.2% |
| Amesbury Town | $538.3K | $567.5K | +5.4% |
| Amesbury | $538.3K | $567.5K | +5.4% |
| West Newbury | $810K | $817.4K | +0.9% |
Housing Supply in Merrimac, MA
How many homes are available in Merrimac, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 20 | 21 | +5.0% |
Summary: The Merrimac real estate market had 21 homes for sale in May 2024, a 5.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 8 | 8 | 0.0% |
| 4 Bedrooms | 3 | 6 | +100.0% |
| 5+ Bedrooms | 0 | 1 | +100.0% |
Summary: The Merrimac 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 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 100%, and 5+ bedroom homes increased by 100%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 5 | 11 | +120.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
10 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Merrimac, you could pay more than the asking price. 90.9% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Merrimac in May 2024, up by 120.0% month-over-month. Of the 11 sold homes, 0% were sold under asking, 9% were sold at asking, and 91% were sold over asking.
Days on Market for Merrimac, MA
How long does it take to sell a home in Merrimac, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 39 Days | 13 Days | -65.5% |
Summary: Homes in Merrimac had an average of 13 days on market in May 2024, down by 65.5% compared to last year.
Breakdown of Home Sale Times
10 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 Merrimac are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Merrimac; 91% of homes were sold within 30 days, 9% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
