2016 Year End Summaries

2016 YEAR END MARKET SUMMARIES

Amesbury 2016 Housing market By The Numbers

The median price of a Single Family Home (SFH) in Amesbury in 2016 was virtually unchanged from 2015 and still 10% below the 2005 peak. The median condo price increased 10% but is still 5% below the 2005 peak. Sales of SFHs increased while condo sales were flat and well below the 2004 level.

Andover 2016 Housing market By The Numbers

The median price of a Single Family Home (SFH) in Andover in 2016 declined slightly from the 2015 peak, although the second half of the year set a record. The median condo price showed a somewhat larger decline. Sales were more or less flat compared with 2015.

Beverly 2016 Housing Market by the Numbers
The Beverly housing market sizzled in 2016. The median price of a Single Family Home (SFH) jumped 9% to a new record high on a 5% sales increase. While the median price of all condos sold soared 17%, the increase would have been a still strong 11% without the impact of 25 sales at the new Elliott Landing

Boxford 2016 Housing market By The Numbers

While the median price of a Single Family Home (SFH) in Boxford in 2016 increased 7%, it remains below the levels of 2004 and 2005. Sales, however, jumped to a new high. There is no condo market in Boxford.

Town of Essex 2016 Housing Market By The Numbers

In a market with a small number of sales and a wide range in types of property – from seasonal summer cottages to waterfront farms – the median price can fluctuate quite widely depending upon the mix of sales in any year.

Georgetown 2016 Housing Market By The Numbers
The median price of a SFH sold in Georgetown in 2016 was $389,000. a decline of 5% from the 2015 level, but overall prices have been stable for the last several years

Gloucester 2016 Housing Market By The Numbers

The median prices of a SFH sold in Gloucester in 2016 increased by 2.6% to $400,000, almost back to the 2006 peak of $402,500. Prices have increased steadily, but modestly, over the last few years. Sales have also been on an upward trend and reached a new peak in 2016

Ipswich 2016 Housing Market By The Numbers
The median price of a SFH sold in Ipswich in 2016 jumped 12.5% to $540,000, finally beating the prior 2005 peak. Sales were much in line with the prior 3 years and a tad below the 2004 peak

Lynn 2016 Housing market By The Numbers
The median price of a Single Family Home (SFH) in Lynn in 2016 rose 10% to a new record, finally topping the prior 2005 peak. The median price of a condo rose 9%, but was still 2% below the 2006 peak. Sales of both SFHs and Condos increased strongly, but while SFH sales are close to their 2005 level condo sales are still only about half the 2005 peak.

Manchester By The Sea 2016 Housing Market By The Numbers

The median price of the 56 SFHs sold in Manchester By The Sea in 2016 increased 16% to a record of $926,000, the highest median price in Essex County by some distance.

Marblehead 2016 Housing market By The Numbers
The median price for both Single Family Homes (SFH) and condos reached new highs in 2016. The median price of a SFH increased 4% to $620,000 ( click here for a detailed report ) and the median price of a condo increased 15% to $370,000, fueled by a sharp jump in sales between $350,000 and $500,000.

North Andover 2016 Housing market By The Numbers

The median price of a Single Family Home (SFH) sold in North Andover in 2016 was very little changed from 2015 and remained 8% below the 2005 peak. The median price of a condo was much in line with the last few years and remains well below the 2006 peak, the year that saw a large number of sales at Oakridge Village.
Sales of both SFHs and Condos remain well below their earlier peaks.

Rockport 2016 Housing market By The NumbersThe median price of a Single Family Home (SFH) sold in Rockport in 2016 declined 9%, reflecting more sales at lower prices: 55% of sales in 2016 were below $500,000 compared with only 45% in 2015. The median price of a condo set a new record high, as 65% of the small number of sales occurred above $300,000, compared with only 45% in 2015.

Salem 2016 Housing market By The Numbers
In 2016 the median price of a Single Family Home (SFH) rose 6% to a new record high on a 16% increase in sales, which were also a record. The median price of a condo rose 2% and is just 1% below the 2005 peak. Condo sales were also up 16% but are still below the levels of 2004/05.

Swampscott 2016 Housing Market by the Numbers
In 2016 the median price of a Single Family Home (SFH) in Swampscott rose 6% to $488,000, still well below the exceptional $517,300 of 2005. Sales dropped 14% as supply was sharply lower throughout the year.
The median price of a condo rose 4% to $255,000, 11% below the 2005 peak. Sales fell back from the levels of the prior two years.

Essex County 2016 Housing market By The Numbers
The median prices for both Single Family Homes (SFH) and Condos set new records in 2016, each rising 5%. SFH sales also set a new high, while condo sales remained well below the peak level of 2005,

Massachusetts 2016 Housing market By The Numbers

The median price of a Single Family Home (SFH) in Massachusetts in 2016 rose 3% to a new high, finally passing the prior 2005 peak. The median price of a condo rose 3.5% to a new high. Sales of SFHS were a record while condo sales remain 13% below 2005 levels.
The impact of Boston on MA condo prices is explored in How much does Boston impact Massachusetts condo prices?

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