Danvers MA Market Report 2011

Danvers MA Market Report 2011

Single Family Home Sales

The current Danvers MA Market Report 2011 shows single family home sales slipped 17% from Danvers’ 2010 sales dropping from to 186 to the 2011 volume of 154. During the same period we saw the average sale price level off with no notable shift hovering right around $353k both years. This shows a largely stable trend in single family values after a few years of steady decline, sales volume continued a four year up an down trend landing comfortably up in 2011. The average number of days on market stretched a bit from 105 to 122 days, a 16% increase showing that pricing is holding though the market has slowed down a bit.

Danvers Single Family Average Price 2006-2011

Danvers Single Family Sales Volume 2006-2011

Condominium Sales

As single family home sales decreased significantly from 2010 to 2011, condominium sales continued a four year see-saw trend heading down 8% in 2011 from 65 to 60 sales after a similar but opposite upward swing in 2010 over 2009. The average sale price for Danvers condo sales rose 3% from around $226k to around $233k reflecting a stabilization of values similar to the local single family home pricing trend. 154 sales in 2011 with the average sale price sliding only 1% from around $338k to $335k. The average days on market, as with single family homes, expanded by 25% from 96 days to 120.

Values are showing signs of leveling off but the market has slowed down for both condominium and single family sales leaving less competition for buyers but better prospects for value security in coming years.