| | | |  | | | Welcome to my very first real estate newsletter! | | | Each month, I’ll be sharing valuable insights into the local market to keep you informed, whether you're thinking of buying, selling, or just love knowing what your neighbor’s house actually sold for (we’ve all been curious!). In this issue, we’re diving into a summer market snapshot for Essex County, breaking down the sales price to list price ratio, what it means for buyers and sellers, and a quick peek at my current listings.
This summer, the average home sale price in Essex County came in at $934,264, reflecting a competitive and high demand market across a wide range of price points. Homes spent an average of 17 days on the market before receiving an offer, with a total average of 27 days from listing to closing. Translation? Homes are moving faster than your morning coffee on a Monday. Well priced properties are flying off the shelves, a sign of strong buyer demand and smooth transactions.
Whether you’re gearing up for a move or just here for the real estate tea, the Essex County market is staying active, resilient, and full of opportunity. | | | | | | | | | | | | | | | |  | |  | | | Let’s talk about the Sale Price to List Price ratio, or as I like to call it, the “Did they get asking or did they really get asking?” number. This ratio compares the final sale price of a home to its original list price. If it is 100 percent, that means the home sold for exactly what it was listed for. Anything above that means bidding wars. Below that means maybe a little wiggle room.
This summer in Essex County, the average SP:LP ratio was 104 percent, meaning homes, on average, sold for 4 percent over asking price, which is even higher than last summer’s 103 percent. That is a strong signal that buyers are still bringing their A game and that well priced homes are creating serious competition. For sellers, this is great news because the market rewards accurate pricing and solid presentation.
For buyers, it means you may need to come in strong, but don’t worry, I can help you strategize so you are not overpaying, just winning. Take a look below to see how I helped my clients offer win on a condo in Salem against 2 other offers without going over asking! | | | | | 2025 SP:LP: 104% | 2024 SP:LP: 103% | | | | | | | | | | | | |  | | | This summer’s market has been fast paced and competitive, with homes selling quickly and often above asking price. For sellers, this means there’s real opportunity to capitalize on strong demand, but the key to success is pricing your home right from the start. Overpricing can lead to missed opportunities, while a well priced home generates excitement and multiple offers. If you’re selling, working with a knowledgeable agent to price strategically is your best bet to maximize value and sell quickly.
For buyers, the summer market has been challenging, with bidding wars and quick offers becoming the norm. To stay competitive, buyers need to be prepared with financing in order, be ready to act fast, and have a clear sense of their priorities. Don’t be discouraged if you don’t win the first bid, persistence and a smart offer strategy go a long way in winning your dream home.
Looking ahead to fall, well priced homes will continue to attract serious buyers in what’s expected to be a more balanced market. Buyers should stay prepared to move quickly, while sellers should focus on strategic pricing.
In mid September, the Federal Reserve’s potential rate cuts could lower borrowing costs and spark more buyer activity, so keeping an eye on these updates will be key for both buyers and sellers. | | | | | | | | | | | | | |  | | 289 County Way Ext, Beverly, MA | | Under agreement after capturing hearts with its expansive outdoor living, classic charm, and thoughtful details. From the white picket fence to the sun-filled interiors and private backyard retreat, this Beverly home offered a rare blend of comfort, space, and convenience. | | | | | | | | | | 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. | | | | | | | | | | | |
| | | | | |  | | | Welcome to my very first real estate newsletter! | | | Each month, I’ll be sharing valuable insights into the local market to keep you informed, whether you're thinking of buying, selling, or just love knowing what your neighbor’s house actually sold for (we’ve all been curious!). In this issue, we’re diving into a summer market snapshot for Essex County, breaking down the sales price to list price ratio, what it means for buyers and sellers, and a quick peek at my current listings.
This summer, the average home sale price in Essex County came in at $934,264, reflecting a competitive and high demand market across a wide range of price points. Homes spent an average of 17 days on the market before receiving an offer, with a total average of 27 days from listing to closing. Translation? Homes are moving faster than your morning coffee on a Monday. Well priced properties are flying off the shelves, a sign of strong buyer demand and smooth transactions.
Whether you’re gearing up for a move or just here for the real estate tea, the Essex County market is staying active, resilient, and full of opportunity. | | | | | | | | | | | | | | | |  | |  | | | Let’s talk about the Sale Price to List Price ratio, or as I like to call it, the “Did they get asking or did they really get asking?” number. This ratio compares the final sale price of a home to its original list price. If it is 100 percent, that means the home sold for exactly what it was listed for. Anything above that means bidding wars. Below that means maybe a little wiggle room.
This summer in Essex County, the average SP:LP ratio was 104 percent, meaning homes, on average, sold for 4 percent over asking price, which is even higher than last summer’s 103 percent. That is a strong signal that buyers are still bringing their A game and that well priced homes are creating serious competition. For sellers, this is great news because the market rewards accurate pricing and solid presentation.
For buyers, it means you may need to come in strong, but don’t worry, I can help you strategize so you are not overpaying, just winning. Take a look below to see how I helped my clients offer win on a condo in Salem against 2 other offers without going over asking! | | | | | 2025 SP:LP: 104% | 2024 SP:LP: 103% | | | | | | | | | | | | |  | | | This summer’s market has been fast paced and competitive, with homes selling quickly and often above asking price. For sellers, this means there’s real opportunity to capitalize on strong demand, but the key to success is pricing your home right from the start. Overpricing can lead to missed opportunities, while a well priced home generates excitement and multiple offers. If you’re selling, working with a knowledgeable agent to price strategically is your best bet to maximize value and sell quickly.
For buyers, the summer market has been challenging, with bidding wars and quick offers becoming the norm. To stay competitive, buyers need to be prepared with financing in order, be ready to act fast, and have a clear sense of their priorities. Don’t be discouraged if you don’t win the first bid, persistence and a smart offer strategy go a long way in winning your dream home.
Looking ahead to fall, well priced homes will continue to attract serious buyers in what’s expected to be a more balanced market. Buyers should stay prepared to move quickly, while sellers should focus on strategic pricing.
In mid September, the Federal Reserve’s potential rate cuts could lower borrowing costs and spark more buyer activity, so keeping an eye on these updates will be key for both buyers and sellers. | | | | | | | | | | | | | |  | | 289 County Way Ext, Beverly, MA | | Under agreement after capturing hearts with its expansive outdoor living, classic charm, and thoughtful details. From the white picket fence to the sun-filled interiors and private backyard retreat, this Beverly home offered a rare blend of comfort, space, and convenience. | | | | | | | | | | | 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. | | | | | | | | | | | |
|
|
