FA L L 2 0 2 1
Market Update
2 | Fall Update 2021
Swampscott 781.593.6111 300 Salem Street Swampscott, MA 01907
Marblehead 781.631.8800 One Essex Street Marblehead, MA 01945
Brilliant color marks the arrival of autumn – the season most celebrated as a time of change and opportunity. Autumn remains an active real estate season in our coastal communities. In this fall edition of our 2021 market update, we provide statistics and key insights impacting home buyers and sellers here on the North Shore. Should autumn find you considering a change of address, allow us to assist you. Sagan Harborside Sotheby’s International Realty® proudly provides a luxury real estate experience at every price point. We invite you to meet with us to discuss your goals. Our team of experienced and knowledgeable sales associates offer you unsurpassed skills, dedication and personal service across Boston’s North Shore and beyond.
info@saganharborside.com saganharborside.com
Sagan Harborside Sotheby’s Inte rnational Realty | 3
WELCOME TO OUR
Contents
Fall Update Market Report
4 | Fall Update 2021
NOTES & ABBREVIATIONS ... 5 ESSEX COUNTY .... 6–11 BEVERLY ... 12–13 GLOUCESTER ... 14–15 MANCHESTER-BY-THE-SEA ... 16–17 MARBLEHEAD .... 18–19 NAHANT ... 20–21 ROCKPORT ... 22–23 SALEM ...24–25 SWAMPSCOT T ... 26–27
Notes and Abbreviations MEDIAN PRICE
The price in the very middle of a data set, with exactly half of the houses priced for less and half priced for more. It is not the average price. Median prices exclude distressed sales – foreclosures and short sales – because these are not normally arms-length transactions. “Sales” include everything. Look at this list of numbers: 5,6,7,8,9,10,11,12,13,14,15,100,100. The median price – the middle one – is 11. The average is 24. Median price removes the impact of outliers – whether high or low. If 50% of sales take place above $100,000 and 50% below then the median will be $100,000. When the percentage increases to 60% above $100,000, it means that more sales are occurring at higher prices and so the median price increases.
DTO Days to Offer. The number of days a property is listed before an accepted offer is received. A more reliable guide to activity than DOM – Days on Market – as a number of factors can affect the timing for the latter.
MONTHS OF SUPPLY If 60 properties have sold in the last 6 months that is a rate of 10 per month. If there are currently 20 properties for sale the supply is 20 divided by 10 = 2 months. Because properties sell more quickly in summer months, we use Year to Date (YTD) numbers to even out those fluctuations.
SFH
Y TD
DOM
YOY
Single Family Home
Year to Date
Days on Market
Year on Year
saganharborside.com | 5
Essex County Overview The real estate market in Essex County continued to boom in the first 8 months of 2021, with multiple offers the norm. As the summer progressed, the frenzy amongst buyers diminished some. It is too early to tell whether this is a significant change or a lull before buyers return in earnest now that Labor Day has passed and Fall is in full swing. Unfortunately, the specter of COVID continues to hover over the economy.
Increase in Median Price The median SFH price in Jan – Aug 2021 increased 16% to $610,000; it broke $500,000 for the first time in Q2 2020. In the first 8 months of 2021 only 4 of the 34 cities and towns – Lynn, Methuen, Haverhill and Lawrence – had a median SFH price under $500,000, while 17 had median prices above $750,000.
Inventory While there has been some improvement in SFH Inventory in recent months, the level remains below 2020’s and well below that of 2019. Sales have recovered a little from the 2020 level, but through August were 9% below the average of 2017 – 2019.
6 | Fall Update 2021
Median Condo Price
YoY Increases
The median Condo sale price
Every town except Newbury (9%)
increased more modestly, increasing
saw double-digit SFH median
by “only” 12% YOY to $381,000.
price increases YOY.
Essex County
FA L L U P D AT E
2021
HOUSING MARKE T BY THE NUMBERS
Essex County continues to be an extremely strong sellers’ market.
SOLD UNITS JAN – AUG 2021
4%
8%
The current active supply is less than 1 month for prices up to $1.5 million,
1,500+
28%
demonstrating the extremely strong sellers’
1,000-1,499
market which continues in Essex County.
750-999
18%
LIST PRICE
SUPPLY
$0k–$499k
0.7 months
$500k–$599k
0.7 months
$600k–$749k
0.6 months
$750k–$999k
0.9 months
$1M–$1.499M
0.8 months
$1.5M+
3.5 months
All Prices
0.9 month
600-749 500-599
20%
21%
0-499
$0k–$499k
$500k–$599k
$600k–$749k
$750k–$999k
$1M–$1.499M
$1.5M+
SINGLE FAMILY HOME | SALE PRICE TO LIST PRICE
YTD Aug 2021 YTD Aug 2020
77% 77% of SFH sales were over
OVER 110% ABOVE LIST PRICE
list price in Jan – Aug 2021 (vs 58% in 2020) >100%
28%
100%
28% of them at 110% or more of list (vs 9% in 2020) < 100% 0%
10%
20%
30%
40%
50%
60%
70%
80%
saganharborside.com | 7
Essex County HOUSING MARKE T BY THE NUMBERS
MEDIAN PRICE
MEDIAN PRICE
%
# OF SALES
# OF SALES
%
JAN – AUG ‘20
JAN – AUG ‘21
CHANGE
JAN – AUG ‘20
JAN – AUG ‘21
CHANGE
Amesbury
$453,000
$517,500
14%
105
100
-5%
Andover
$730,000
$845,000
16%
234
241
3%
Beverly
$545,000
$625,000
15%
180
196
9%
Boxford
$762,500
$900,000
18%
84
74
Danvers
$525,000
$646,096
23%
110
148
Essex
$690,000
$772,500
12%
34
16
-53%
Georgetown
$496,500
$610,000
23%
70
55
-21%
Gloucester
$480,000
$600,000
25%
100
95
-5%
Groveland
$500,000
$580,000
16%
48
48
0%
Hamilton
$655,750
$787,500
20%
58
82
41%
Haverhill
$405,000
$460,000
14%
286
286
0%
Ipswich
$654,500
$785,000
20%
81
84
4%
Lawrence
$315,000
$400,000
27%
101
126
25%
Lynn
$420,000
$470,000
12%
302
337
12%
Lynnfield
$720,000
$828,500
15%
70
81
16%
Manchester
$830,000
$1,068,500
29%
42
46
10%
Marblehead
$749,500
$827,500
10%
161
142
-12%
Merrimac
$508,115
$600,000
18%
44
34
-23%
Methuen
$400,000
$470,000
18%
298
291
-2%
Middleton
$760,000
$850,000
12%
40
55
38%
Nahant
$722,500
$821,500
14%
20
22
10%
Newbury
$718,000
$780,000
9%
58
52
-10%
Newburyport
$725,000
$864,250
19%
133
116
-13%
North Andover
$700,000
$799,950
14%
145
185
28%
Peabody
$520,000
$607,500
17%
210
239
14%
Rockport
$627,000
$887,500
42%
41
42
2%
Rowley
$567,500
$708,500
25%
32
44
38%
Salem
$487,700
$566,000
16%
153
124
-19%
Salisbury
$427,500
$500,000
17%
46
39
-15%
Saugus
$485,000
$552,500
14%
134
173
29%
Swampscott
$595,000
$740,000
24%
90
95
6%
Topsfield
$650,000
$802,500
23%
37
40
8%
Wenham
$787,500
$910,000
16%
33
33
0%
West Newbury
$675,000
$807,500
20%
30
45
50%
8 | Fall Update 2021
-12% 35%
Source: MLSPIN, OliverReports.com
Market Snapshot
FA L L U P D AT E
2021
JANUARY – AUGUST 2021
ESSEX COUNT Y
M A S S AC H U S E T T S
$610,000
16%
$535,000
18%
SF H M ED IA N S A L ES P RI C E
VS . JA N – AU G ‘2 0
SF H M ED IA N S A L ES P RI C E
VS . JA N – AU G ‘2 0
3,782
5%
34,452
6%
H O M ES S O L D
VS . JA N – AU G ‘2 0
H O M ES S O L D
VS . JA N – AU G ‘2 0
ESSEX CONDO
M A S S AC H U S E T T S C O N D O
$381,000
12.1%
$481,200
13%
M ED IA N S A L ES P RI C E
VS . JA N – AU G ‘2 0
M ED IA N S A L ES P RI C E
VS . JA N – AU G ‘2 0
1,878
14%
16,591
32%
CONDOS SOLD
VS . JA N – AU G ‘2 0
CONDOS SOLD
VS . JA N – AU G ‘2 0
M A S S AC H U S E T T S C O N D O E XC L U D I N G B O S T O N
BOSTON CONDO
$410,000
13%
$688,250
3%
M ED IA N S A L ES P RI C E
VS . JA N – AU G ‘2 0
M ED IA N S A L ES P RI C E
VS . JA N – AU G ‘2 0
12,439
15%
4,152
53%
CONDOS SOLD
VS . JA N – AU G ‘2 0
CONDOS SOLD
VS . JA N – AU G ‘2 0
saganharborside.com | 9
Essex County HOUSING MARKE T BY THE NUMBERS
SINGLE FAMILY HOME (SFH) INVENTORY
1200
While there has been some improvement in SFH inventory in
1000
recent months, the level remains below 2020’s and well below that of
800
2019. Sales recovered a little from
600
the 2020 level but were 9% below the average of the 3 prior years.
400 200 Q1
0
Q2
Q3
Q4
Q1
2019
Q2
Q3
Q4
Q1
2020
Q2
Q3
Q4
2021
SALES
SFH
Jan–Aug 2021
3,782
Jan–Aug 2020
3,610
Jan–Aug 2019
4,204
Jan–Aug 2018
4,085
Jan–Aug 2017
4,089
5-Year Avg.
3,954
DAYS TO ACCEP TED OFFER
SFH
CO ND OS
Jan-21
31 plus Jan-21
Feb-21
Feb-21 16 - 30
Mar-21
Mar-21 15 or less
Apr-21
Apr-21
May-21
May-21
Jun-21
Jun-21
Jul-21
Jul-21
Aug-21 0%
Aug-21
20%
40%
60%
80%
100%
0%
20%
40%
60%
80%
100%
31+ days
After the usual slowish start to the year, more than 8 out of 10 SFHs have received accepted offers within 15 days, while the number for Condos has been just a little lower.
16–30 days 15 or less days
10 | Fall Update 2021
FA L L U P D AT E
2021
ESSE X COUNT Y AND MASSACHUSE T TS SFH VS. BOSTON SFH AND CONDOS
Boston Condos
Boston SFH
MA SFH
Essex Conty SFH
2.3
From 2008 to 2018 Boston Condo prices kept pace with Boston SFH prices, with both comfortably outperforming Essex County and Massachusetts overall. Since 2018, median prices in Essex and MA have increased sharply, as have Boston SFHs, but the growth in median Boston Condo prices has slowed dramatically.
2.1 1.9 1.7 1.5 1.3 1.1 0.9
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020 ytf2021
All data is converted to a base of 1.00 in 2000. For example, the Essex County median price in 2008 was $335,000 and in H1 2020 it was $605,000. Using 2008 as 1.00 produces a H1 2020 value of $605,000/$375,000 or 1.81. Similarly, the other are converted to a base of 1.00 in 2008.
MORTGAGE R ATES FREDDIE MAC | PRIMARY MORTGAGE SURVE Y®
U.S . We e kl y Ave r a ge M o r t g a ge Rate s as of 9/9/202 1
Mortgage rates increased early in 2021 but then dropped back below 3% again. The 15-year is very attractive for those who can afford the extra monthly payment.
saganharborside.com | 11
Ma rbl B eehe ve rly ad
Beverly AT A GL ANCE
$625,000 Single Family Home Median Price on 196 SFH Sales Between Jan–Aug ‘21
$375,000 Condo Median Price on 99 Condo Sales Between Jan–Aug ‘21
Y TD 2020
Y TD 202 1
Key M e tric s
J a n –Au g
J a n –Au g
Median SFH Price
$545,000
$625,000
SFH Sales
180
196
DTO
7
6
Median Condo Price
$355,000
$375,000
Condo Sales
90
99
DTO
11
7
A s of 9/ 10
A s of 9/ 10
SFH For Sale
24
22
Condos For Sale
12
10
Note: 12-month rolling averages of quarterly median prices. 12 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
1 3%
1 3%
$1,500 plus
$0 – $499,999 1 3%
$500,000 – $749,999 $750,000 – $999,999
$1,000-1,499
15%
$750-999
Increase in SFH Median
3 1%
$1,000,000 – $1,499,999
$500-749
$1,500,000+
$0-499
Sale Price to $625,000 in Jan–Aug 2021 (up from $545,000 in 2020)
30%
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020
OVER 110% ABOVE LIST PRICE
YTD Aug 2021 YTD AUG 2021
YTD Aug 2020
> 100%
YTD AUG 2020
36%
82%
Over 110% Above Asking
Above Asking
3%
15%
Asking Price
Below Asking
100%
< 100% 0%
20%
40%
60%
80%
100%
MEDIAN PRICES | SFH VS CONDO
$600,000
SFH
$500,000
CondoSFH
CONDO
$400,000 $300,000 $200,000 $100,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 13
Ma Glrbl o uce eheste a dr
Gloucester AT A GL ANCE
$600,000 Single Family Home Median Price on 95 SFH Sales Between Jan–Aug ‘21
$449,000 Condo Median Price on 91 Condo Sales Between Jan–Aug ‘21
Y TD 2020
Y TD 202 1
Key M e tric s
J a n –Au g
J a n –Au g
Median SFH Price
$480,000
$600,000
SFH Sales
100
95
DTO
17.5
7
Median Condo Price
$393,500
$449,000
Condo Sales
52
91
DTO
42.5
11
A s of 9/ 10
A s of 9/ 10
SFH For Sale
31
14
Condos For Sale
28
13
Note: 12-month rolling averages of quarterly median prices. 14 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
17 % $1,500 plus
$0 – $499,999
3 1% $1,000-1,499
8%
$500,000 – $749,999
$750-999
$750,000 – $999,999 6%
$1,000,000 – $1,499,999
$500-749 $0-499
$1,500,000+
25% Increase in SFH Median Sale Price to $600,000 in Jan–Aug 2021 (up from $480,000 in 2020)
3 8%
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020 OVER 110% ABOVE LIST PRICE
YTD Aug 2021
24%
YTD AUG 2021
YTD Aug 2020
> 100%
YTD AUG Over 2020
64%
110% Above Asking
Above Asking
7%
28%
Asking Price
Below Asking
100%
< 100% 0%
10%
20%
30%
40%
50%
60%
70%
MEDIAN PRICES | SFH VS CONDO
$600,000
SFH
$500,000
CondoSFH
CONDO
$400,000 $300,000 $200,000 $100,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 15
Ma nche ste r-b - Sea da May-t rblheehe
Manchester AT A GL ANCE
$1,068,500 Single Family Home Median Price on 46 SFH Sales Between Jan–Aug ‘21
9 Median Days to Offer in Jan–Aug ‘21 (vs 58 in Jan–Aug ‘20)
Y TD 2020
Y TD 202 1
Key M e tric s
J a n –Au g
J a n –Au g
Median SFH Price
$830,000
$1,068,500
SFH Sales
42
46
DTO
58
9
A s of 9/ 10
A s of 9/ 10
15
13
SFH For Sale
Note: 12-month rolling averages of semiannual median prices. 16 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
7% $1,500 plus
$0 – $499,999
3 5%
$1,000-1,499
$500,000 – $749,999 43%
$750,000 – $999,999
$750-999 $500-749
$1,000,000 – $1,499,999
29% Increase in SFH Median Sale Price to $1,068,500 in Jan–Aug 2021 (up from $830,000 in 2020)
$1,500,000+ 1 5%
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020 OVER 110% ABOVE LIST PRICE
YTD Aug 2021 > 100%
13%
YTD AUG 2021
YTD Aug 2020
YTD AUG 2020 Over
46%
110% Above Asking
Above Asking
13%
41%
Asking Price
Below Asking
100%
< 100% 0%
10%
20%
30%
40%
50%
60%
70%
80%
MEDIAN PRICES SFH
$1,200,000
SFH
$1,100,000
Condo
$1,000,000 $900,000 $800,000 $700,000 $600,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 17
SFH
Ma rbl ehe a d
Marblehead AT A GL ANCE
$827,500 Single Family Home Median Price on 142 SFH Sales Between Jan–Aug ‘21
$515,000 Condo Median Price on 25 Condo Sales Between Jan–Aug ‘21
Y TD 2020
Y TD 202 1
Key M e tric s
Jan–Aug
Jan–Aug
Median SFH Price
$749,500
$827,500
SFH Sales
161
142
DTO
14
7
Median Condo Price
$410,000
$515,000
Condo Sales
35
34
DTO
23
7
A s of 9/ 10
A s of 9/ 10
SFH For Sale
23
18
Condos For Sale
5
9
Note: 12-month rolling averages of quarterly median prices. 18 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
2% 17 % $1,500 plus
$0 – $499,999
$1,000-1,499
32%
$500,000 – $749,999 17 %
$750,000 – $999,999
$750-999
$1,000,000 – $1,499,999
$500-749
$1,500,000+
$0-499
10% Increase in SFH Median Sale Price to $827,500 in Jan–Aug 2021 (up from $749,500 in 2020)
32%
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020
OVER 110% ABOVE LIST PRICE
YTD Aug 2021
YTD AUG 2021
YTD Aug 2020
>100%
YTD AUG 2020
35%
65%
Over 110% Above Asking
Above Asking
5%
30%
Asking Price
Below Asking
100%
< 100% 0%
10%
20%
30%
40%
50%
60%
70%
MEDIAN PRICES | SFH VS CONDO
SFH
$900,000 $800,000
CONDO
Condo SFH
$700,000 $600,000 $500,000 $400,000 $300,000 $200,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 19
Ma rbl Naehe haantd
Nahant AT A GL ANCE
$821,500 Single Family Home Median Price on 22 SFH Sales Between Jan–Aug ‘21
33 Median Days to Offer in Jan–Aug ‘21 (vs 28.5 days in Jan–Aug ‘20)
Y TD 2020
Y TD 202 1
Key M e tric s
J a n –Au g
J a n –Au g
Median SFH Price
$722,500
$821,500
SFH Sales
20
22
DTO
28.5
33
A s of 9/ 10
A s of 9/ 10
13
3
SFH For Sale
Note: 12-month rolling averages of semiannual median prices. 20 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
5% $1,000 plus
$0 – $499,999
$750-999
$500,000 – $749,999
3 6%
3 6%
$500-749
$750,000 – $999,999
$0-499
$1,000,000 – $1,499,999
14% Increase in SFH Median Sale Price to $821,500 in Jan–Aug 2021 (up from $722,500 in 2020)
2 3%
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020
YTD AUG 2020 > 100%
0%
YTD Aug 2021 YTD Aug 2020
100%
< 100% 0%
10%
20%
30%
40%
50%
60%
70%
80%
27%
YTD AUG 2021
Over 110% Above Asking
Above Asking
0%
73%
Asking Price
Below Asking
MEDIAN PRICES SFH
$900,000
SFH
$800,000
Condo
SFH
$700,000 $600,000 $500,000 $400,000 $300,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 21
MaRo rblck ehe port ad
Rockport AT A GL ANCE
$887,500 Single Family Home Median Price on 42 SFH Sales Between Jan–Aug ‘21
$549,500 Condo Median Price on 16 Condo Sales Between Jan–Aug ‘21
Y TD 2020
Y TD 202 1
Key M e tric s
Jan–Aug
Jan–Aug
Median SFH Price
$627,000
$887,500
SFH Sales
41
42
DTO
36
8
Median Condo Price
$400,000
$549,500
Condo Sales
13
16
DTO
137
8
A s of 9/ 10
A s of 9/ 10
SFH For Sale
18
11
Condos For Sale
6
3
Note: 12-month rolling averages of semiannual median prices. 22 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
8% 20% $1,500 plus
$0 – $499,999
$1,000-1,499
$500,000 – $749,999
$750-999
3 8%
$750,000 – $999,999 20%
$1,000,000 – $1,499,999
$500-749 $0-499
$1,500,000+
42% Increase in SFH Median Sale Price to $887,500 in Jan–Aug 2021 (up from $627,000 in 2020)
1 5%
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020 OVER 110% ABOVE LIST PRICE
YTD AugYTD 2021 AUG 2021 > 100%
AUG 2020 YTD AugYTD 2020
10%
42%
Over 110% Above Asking
Above Asking
14%
36%
Asking Price
Below Asking
100%
< 100% 0%
10%
20%
30%
40%
50%
60%
70%
MEDIAN PRICES | SFH VS CONDO
SFH
$900,000
CONDO
$800,000
CondoSFH
$700,000 $600,000 $500,000 $400,000 $300,000 $200,000 $100,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 23
Sa l e m
Salem AT A GL ANCE
$566,000 Single Family Home Median Price on 124 SFH Sales Between Jan–Aug ‘21
$416,500 Condo Median Price on 238 Condo Sales Between Jan–Aug ‘21
Y TD 2020
Y TD 202 1
Key M e tric s
Jan–Aug
Jan–Aug
Median SFH Price
$487,700
$566,000
SFH Sales
163
124
DTO
7
7
Median Condo Price
$373,950
$416,500
Condo Sales
250
238
DTO
8
6
A s of 9/ 10
A s of 9/ 10
SFH For Sale
11
13
Condos For Sale
39
44
Note: 12-month rolling averages of quarterly median prices. 24 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
8% 20% $600 plus
$0 – $499,999
$500-599
$500,000 – $749,999
$400-499
3 8%
$750,000 – $999,999 20%
$1,000,000 – $1,499,999
$0-399
16% Increase in SFH Median Sale Price to $566,000 in Jan–Aug 2021 (up from $487,700 in 2020)
$1,500,000+ 1 5%
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020 OVER 110% ABOVE LIST PRICE
YTD Aug 2021 YTD AUG 2021 > 100%
YTD Aug 2020 YTD AUG 2020
45%
82%
Over 110% Above Asking
Above Asking
2%
16%
Asking Price
Below Asking
100%
< 100% 0%
20%
40%
60%
80%
100%
MEDIAN PRICES | SFH VS CONDO
SFH
$550,000 $500,000
CONDO
CondoSFH
$450,000 $400,000 $350,000 $300,000 $250,000 $200,000
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 25
Ma Swarbl mps ehecott ad
Swampscott AT A GL ANCE
$740,000 Single Family Home Median Price on 95 SFH Sales Between Jan–Aug ‘21
$403,000 Condo Median Price on 50 Condo Sales Between Jan–Aug ‘21
Y TD 2020
Y TD 202 1
Key M e tric s
Jan–Aug
Jan–Aug
Median SFH Price
$595,000
$740,000
SFH Sales
90
95
DTO
22
6
Median Condo Price
$431,500
$403,000
Condo Sales
42
50
DTO
32
7.5
A s of 9/ 10
A s of 9/ 10
SFH For Sale
17
14
Condos For Sale
16
13
Note: 12-month rolling averages of quarterly median prices. 26 | Fall Update 2021
FA L L U P D AT E
2021
SHARE OF SFH SALES BY PRICE | Y TD AUG 2021
6%
6%
6% $1,500-1,999
$0 – $499,999
20%
$1,500 plus
$500,000 – $749,999 $1,000-1,499
37%
$750,000 – $999,999
$750-999
$1,000,000 – $1,499,999
24% Increase in SFH Median Sale Price to $740,000 in Jan–Aug 2021 (up from
$500-749
$1,500,000+
2 5%
$595,000 in 2020)
$0-499
SFH SALE PRICE TO LIST PRICE | Y TD AUG 2021 VS Y TD AUG 2020 OVER 110% ABOVE LIST PRICE
YTD AUG 2021 YTD Aug 2021 > 100%
YTD AUG 2020 YTD Aug 2020
29%
71%
Over 110% Above Asking
Above Asking
6%
23%
Asking Price
Below Asking
100%
< 100% 0%
10%
20%
30%
40%
50%
60%
70%
80%
MEDIAN PRICES | SFH VS CONDO
SFH
$800,000
CONDO
CondoSFH
$600,000
$400,000
$200,000
$0
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
saganharborside.com | 27
saganharborside.com Sothebys’ International eR alty and the Sothebys’ International eR alty logo are registered o( r unregistered) service marks used with permission. Sothebys’ International eR alty Af iliates LC ful y sup orts the principles of the aF ir Housing Act and the qEual Op ortunity Act. Each Of ice Is Independently Owned And Operated. If oy ur property is listed with a real estate broker, please disregard. It is not our intention to solicit the offerings of other real estate brokers. eW are hapyp to work with them and cooperate ful.y