Amesbury MA Real Estate Market Report - YTD (10/31/09)
60Amesbury Massachusetts
Amesbury Market Snapshot
October 2009 statistics show 54 condos currently listed at an average price of $246,902 and a DOM (days on market) of 140. The prices range from a low of $89,500 to a high of $639,900. 74 homes were on the market with an average list price of $372,499. The value range was a low of $160,000 to a high of $1,055,000. The average days on market (DOM) has climbed to 160 days.
Pending activity is moderate with 9 condos under agreement in a range from $43,000 to $224,900. There are 8 homes under contract that have been on the market for 192 days. The average asking price was $352,313.
The sold activity indicated 59 condominium units have closed with an average selling price of $170,527. Sellers are accepting offers and the 95% sales price to list ratio is indicative of a buyer’s market. 88 homes have sold with an average sales price of $318,309 and the sales price to list ratio was at 96%. The trend in value is upward for single family homes as the pending sales are higher than the current selling average. The reverse is obvious for condominiums as the pending sales are at $141,267 as compared to the sold condos at $170,527.
Amesbury Homes Sold
The single family market in Amesbury is showing signs of an upturn in value with average sales prices increasing 6% from 2008 prices. The sales price to list ratio is at 96% and the days on market was at 135. The lowest priced home sold at $128,866 and a high of $725,000. Activity also increased from 76 homes sold in 2008 to 88 in 2009. The statistics indicate that the bottom of the single family market may have occurred in the second quarter of 2009 as the Amesbury MA real estate market continues to improve.
Amesbury Condominium Activity
The Amesbury MA condo market continues a three year downward trend both in average sales prices and units sold. In 2009, prices have dropped -17% from the $204,871 values to $170,527. The number of units sold has dropped -19% during the same timeframe. The pending sales, with an average list price of $141,267 will continue to bring the yearly average down when they close and become the current comparable values. The Amesbury foreclosures in the condominium market has contributed to the downward slide in condo values. Visit Amesbury MA homes and condos for sale to view current listings.
Information was obtained from the MA MLS system (MLSPin) and is not guaranteed to be accurate.
Amesbury Condos Sold
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This report points out some of the great values available in the condominium market for a buyer with a substantial down payment. Until the guidelines are changed to allow easier financing options this will probably continue to remain. The first time buyer market is continuing to respond to the price range of homes available in Amesbury, and financing that allows a minimum down payment. This indicates the prices may continue to rise and the market has reached the bottom.
Bargains will bring out the buyers and the location is hard to beat.
Taxes in Amesbury and their ratings on schools seem to push buyers to other surrounding towns, but home prices are becoming more affordable because of the market and now that they have done a face lift in town it is more attractive so I feel that is helping the sales make the upturn.
Affordability will attract first-time buyers that are not concerned about the school systems.
John P. Wells 2 years ago
Partly because of the high tax rate, prices in Amesbury are a relative bargain. The schools are good, the town is up and coming, and next to Newburyport this place is a great deal. Add to that its location at the I495/I95 junction, and the long term prospects for this little city, now's a great time to buy there.