Is Peabody, 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, Peabody has remained a Seller's Market.
Key Takeaway
Peabody is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Peabody, MA
How much do homes in Peabody, MA cost?
Median Sold Price
$617,000
$373/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Peabody have sold for 7.3% more than they did a year ago.
Summary: The median home sold price in Peabody was $617,000 in May 2024, up 7.3% from last year, and the median price per square foot was $373.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $280K | $365K | +30.4% |
| 2 Bedrooms | $450K | $508K | +12.9% |
| 3 Bedrooms | $591K | $628.2K | +6.3% |
| 4 Bedrooms | $661.5K | $692.5K | +4.7% |
| 5+ Bedrooms | $727.5K | $762.5K | +4.8% |
Summary: Peabody housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 30.4%, 2 bedroom homes increased by 12.9%, 3 bedroom homes increased by 6.3%, 4 bedroom homes increased by 4.7%, and 5+ bedroom homes increased by 4.8%.
Housing Supply in Peabody, MA
How many homes are available in Peabody, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 80 | 96 | +20.0% |
Summary: The Peabody real estate market had 96 homes for sale in May 2024, a 20.0% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 3 | 3 | 0.0% |
| 2 Bedrooms | 18 | 25 | +38.9% |
| 3 Bedrooms | 31 | 34 | +9.7% |
| 4 Bedrooms | 23 | 25 | +8.7% |
| 5+ Bedrooms | 5 | 9 | +80.0% |
Summary: The Peabody 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 increased by 38.9%, 3 bedroom homes increased by 9.7%, 4 bedroom homes increased by 8.7%, and 5+ bedroom homes increased by 80%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 24 | 33 | +37.5% |
Asking Price vs. Sold Price
4 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
26 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peabody, you could pay more than the asking price. 78.8% of homes here sold above asking price last month.
Summary: A total of 33 homes were sold or pending in Peabody in May 2024, up by 37.5% month-over-month. Of the 33 sold homes, 12% were sold under asking, 9% were sold at asking, and 79% were sold over asking.
Days on Market for Peabody, MA
How long does it take to sell a home in Peabody, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 18 Days | 16 Days | -8.1% |
Summary: Homes in Peabody had an average of 16 days on market in May 2024, down by 8.1% compared to last year.
Breakdown of Home Sale Times
31 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Peabody are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 33 homes were sold in Peabody; 94% of homes were sold within 30 days, 6% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
