Is Danvers, 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, Danvers has remained a Seller's Market.
Key Takeaway
Danvers is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Danvers, MA
How much do homes in Danvers, MA cost?
Median Sold Price
$640,000
$367/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Danvers have sold for 4.8% more than they did a year ago.
Summary: The median home sold price in Danvers was $640,000 in May 2024, up 4.8% from last year, and the median price per square foot was $367.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $247.5K | $285K | +15.2% |
| 2 Bedrooms | $465K | $477.5K | +2.7% |
| 3 Bedrooms | $600K | $642.5K | +7.1% |
| 4 Bedrooms | $750K | $777.5K | +3.7% |
| 5+ Bedrooms | $760K | $840K | +10.5% |
Summary: Danvers housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 15.2%, 2 bedroom homes increased by 2.7%, 3 bedroom homes increased by 7.1%, 4 bedroom homes increased by 3.7%, and 5+ bedroom homes increased by 10.5%.
Median Sold Price Compared To Nearby Cities
| Topsfield | $755K | $872.5K | +15.6% |
| Peabody | $575K | $617K | +7.3% |
| Danvers | $610.6K | $640K | +4.8% |
| Middleton | $825K | $780K | -5.5% |
Housing Supply in Danvers, MA
How many homes are available in Danvers, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 56 | 68 | +21.4% |
Summary: The Danvers real estate market had 68 homes for sale in May 2024, a 21.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 4 | 6 | +50.0% |
| 2 Bedrooms | 14 | 14 | 0.0% |
| 3 Bedrooms | 24 | 26 | +8.3% |
| 4 Bedrooms | 8 | 17 | +112.5% |
| 5+ Bedrooms | 6 | 5 | -16.7% |
Summary: The Danvers housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 50%, 2 bedroom homes remained the same, 3 bedroom homes increased by 8.3%, 4 bedroom homes increased by 112.5%, and 5+ bedroom homes decreased by 16.7%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 15 | 23 | +53.3% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
18 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Danvers, you could pay more than the asking price. 78.3% of homes here sold above asking price last month.
Summary: A total of 23 homes were sold or pending in Danvers in May 2024, up by 53.3% month-over-month. Of the 23 sold homes, 13% were sold under asking, 9% were sold at asking, and 78% were sold over asking.
Days on Market for Danvers, MA
How long does it take to sell a home in Danvers, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 27 Days | 22 Days | -19.8% |
Summary: Homes in Danvers had an average of 22 days on market in May 2024, down by 19.8% compared to last year.
Breakdown of Home Sale Times
20 Homes Were Sold
Under 30 Days
1 Home Was Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Danvers are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 23 homes were sold in Danvers; 87% of homes were sold within 30 days, 4% of homes were sold within 30 to 90 days, and 9% of homes were sold over 90 days.
