| | | |  | | Hi there,
Welcome to my October Newsletter, where we take a dive into what happened in the month of September so you can make informed real estate decisions. The fall market is off to a strong start in Essex County. In September, there were 396 single family home sales, with homes spending an average of 40 days on the market and 25 days to receive an offer, slightly slower than the pace we saw this summer. Compared to September of last year, sales volume held steady, but sales prices have seen a significant jump, rising from an average of $848,040 in 2024 to $922,786 this year. Despite higher interest rates, the market continues to lean in favor of sellers, while giving buyers a bit more breathing room than the fast paced spring season. | | | | | | | | |  | |  | | Even with the average days on market hovering around 40, homes are still selling for an average of 101% of their asking price. This is a clear sign that buyers remain eager to compete for well presented, well priced properties. You might wonder: if homes are taking longer to sell, how are they still going over asking? The answer lies in the divide between move in ready homes and those that linger. Many of the less appealing or overpriced listings from the spring and summer are still sitting, while desirable homes, priced right and marketed well, are attracting strong interest. The fall market consistently highlights just how critical strategic pricing and presentation truly are. | | | Sale Price : List Price Ratio = 101% | | | | | | | | | | |  | |  | | 289 County Way EXT, Beverly, MA | | Sold For: $875,000 | | | | |  | | 51 Lafayette Street, Salem | | Sold For: $589,000 | | | | | | | | | | |  | | If you’re looking for a deeper dive into the single family market, want a tailored report on condo trends, or are curious about where your home stands in today’s market, let’s talk. I also work closely with trusted local lenders and can connect you directly for any financing questions, especially if you're a first time buyer. Don’t hesitate to reach out. I'm here to provide the guidance and information you need to make confident decisions. | | | | | | | | Ready To Start Your Real Estate Journey? | | | | If you’re thinking about buying or selling this fall, or just want to stay ahead of the market, I’m here to help every step of the way. Feel free to reach out anytime, let’s make your real estate goals a reality! | | | | | | | | | | | | | | | | | | ©2006-2024 Engel & Völkers® Americas, Inc. All Rights Reserved. Each Engel & Völkers real estate brokerage is independently owned and operated. Engel & Völkers fully supports the principles of the Fair Housing Act and is an Equal Opportunity Employer. All listing information is from sources deemed reliable. However, no representation is made as to the accuracy or completeness thereof and should be independently verified. | | | | | | | | | |
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