This is my snapshot as an active Peabody real estate agent for over 25 years.
2012 was a terrific year for Peabody residents selling and buying! I saw three things that were very encouraging -- many homes with multiple offers that I haven't seen since 2005, home selling price increases and a tight inventory of Peabody homes for sale.
In 2012 there were 330 single-family homes sold in Peabody, with an average selling price of $312,551; a typical Peabody home stayed on the market for 95 days. I believe all of this is contributed to a few factors. We had very little snow, so the 2012 spring market started early and a lot of buyers had been waiting on the sidelines for a long time waiting for prices to stabalize, which included fewer foreclosures and short sales. Also, the economy seems to be improving.
The historically low interest rates and the reasonable priced homes made it affordable for buyers to purchase again. 2012 was the first year that buyers have not really worried about losing the value in their new home purchase. I am encouraged for 2013!
As of January 1st, inventory of Peabody homes for sale are at an all time low. If you are thinking about selling, this is a GREAT time to list your home with hardly any competition. Consider a detailed market assessment for your home and price your home correctly so it maximizes your return on investment.
Happy New Year!
Additonal sales stats for PeabodyType Year Days on Market Units Sold Avg. Sale Price Single-Family
2012 95 320 $312,551 (up 3 percent)
2011 103 240 $302,464 Condo
2012 105 102 $199,121 (down approx. 2 percent)
2011 125 82 $205,088 (higher price reflects newer construction site) Multi-Family
2012 75 19 $291,895 (up approx. 7 percent)
2011 95 24 $271,829
*Stats taken from MLS Property Network