$5,926 Closing Credit*
$499,000
1,219 SqFt
3 Beds
•1 Full Bath
#73313028, Margaret Belmonte, Listing Office: Leading Edge Real Estate
Is Peabody, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since October 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
$650,000
$382/sqft
Based on all homes sold in the last 12 months.
Difference Since October 2023
+$65,000(+11.1%)
Key Takeaway
Homes in Peabody have sold for 11.1% more than they did a year ago.
Summary: The median home sold price in Peabody was $650,000 in October 2024, up 11.1% from last year, and the median price per square foot was $382.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $338K | $326.7K | -3.3% |
| 2 Bedrooms | $475K | $510K | +7.4% |
| 3 Bedrooms | $600.5K | $654.5K | +9.0% |
| 4 Bedrooms | $651.5K | $711K | +9.1% |
| 5+ Bedrooms | $735K | $865K | +17.7% |
Summary: Peabody housing prices by bedroom type for October 2024 compared to the previous year: The home price of 1 bedroom homes decreased by 3.3%, 2 bedroom homes increased by 7.4%, 3 bedroom homes increased by 9%, 4 bedroom homes increased by 9.1%, and 5+ bedroom homes increased by 17.7%.
Housing Supply in Peabody, MA
How many homes are available in Peabody, MA?
Number of Homes For Sale
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 98 | 99 | +1.0% |
Summary: The Peabody real estate market had 99 homes for sale in October 2024, a 1.0% increase compared to September 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 4 | +300.0% |
| 2 Bedrooms | 19 | 17 | -10.5% |
| 3 Bedrooms | 44 | 48 | +9.1% |
| 4 Bedrooms | 24 | 25 | +4.2% |
| 5+ Bedrooms | 10 | 5 | -50.0% |
Summary: The Peabody housing inventory by bedroom type for October 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 300%, 2 bedroom homes decreased by 10.5%, 3 bedroom homes increased by 9.1%, 4 bedroom homes increased by 4.2%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Sep 2024 | Oct 2024 | CHANGE |
|---|---|---|
| 30 | 29 | -3.3% |
Asking Price vs. Sold Price
12 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
16 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Peabody, you could pay more than the asking price. 55.2% of homes here sold above asking price last month.
Summary: A total of 29 homes were sold or pending in Peabody in October 2024, down by 3.3% month-over-month. Of the 29 sold homes, 41% were sold under asking, 3% were sold at asking, and 55% 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
| Oct 2023 | Oct 2024 | CHANGE |
|---|---|---|
| 17 Days | 26 Days | +47.6% |
Summary: Homes in Peabody had an average of 26 days on market in Oct 2024, up by 47.6% compared to last year.
Breakdown of Home Sale Times
23 Homes Were Sold
Under 30 Days
4 Homes Were Sold
In 30 - 90 Days
2 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 October 2024, 29 homes were sold in Peabody; 79% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 7% of homes were sold over 90 days.
