Top 5 Appreciating & Depreciating towns North of Boston in 2023

Top 5 North Shore Appreciation / Depreciation

What a year for real estate. I joke saying it was the best real estate crash… ever! But the fact of the matter is that 16 of the 56 towns that are North of Boston had home price depreciation in 2023. 

So in this video we are going to take a look at the 5 best and worst performing towns for Single Family homes that are North of Boston. It’s important to say that there is no exact science as to exactly what towns should consist of the North of Boston tag. The data is great, but what are the exact towns is up for a little interpretation. 

Real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then I am here to help. 

Alright, let's start with the top appreciating towns in the Metro West market. 

The fifth best performing town North of Boston in 2023 was Swampscott, Massachusetts. Swampscott saw an astounding 41% decrease in the amount of units were sold in 2023. In 2023, there were 69 homes sold compared to the 117 units in 2022. The average sales price of $1.026 million was 10.8% higher than the $925,937 average sales price in 2022. The median price of $855,000 was 8.2% higher year over year in 2023. 

The fourth best performing town North of Boston in 2023 was Burlington, Massachusetts. Burlington had 148 homes close in 2023 which was 14.5% less than the 173 units sold in 2022. The average sales price in 2023 was $981,311 which is 14.2% higher than the $859,185 average sales price in 2022. The median sales price of $800,000 was 8.6% higher then the $736,500 in 2022. 

Manchester by the Sea was the third best performing town North of Boston. Manchester saw 34 homes close which was 37% lower than the 54 units that closed in 2022. Sales might have been down, but pricing was not! The average home price was $2.158 million or 25.5% higher than the $1.721 million sales price in 2022. The median sales price would also see a big jump with the $1.595 million being 17.7% higher then the pricing in 2022. 

The runner up best performing town North of Boston is Groveland, Massachusetts. Groveland had 43 sales in 2023 which was 38.6% lower than the 70 sales in 2022. The average sales price of $732,069 was 28.5% less than the average sales price of $569,515 in 2022. The median sales price of $635,000 was 10.4% higher than the $575,000 median price in 2022. 

And that leads us to the best performing town North of Boston. Beverly, Massachusetts had 182 homes close which was a 32.3% decrease in sales activity from last years 269 unit levels. The average sales price of $945,531 in 2023 was 29.6% higher than the 2022 average sales price of $729,857. The median sales price of $720,000 was 14.1% higher than the 2022 median sales price. 

And now let’s take a look at the worst performing towns that are North of Boston for 2023. 

The 5th worst performing town was Wenham, Massachusetts. There were 33 sales in Wenham in 2023. This 33 units was 32.7% less than the 49 sales that we saw in 2022. The average sales price of $1.058 million was 5.7% lower than the average sales price in $1.122 million in 2022. The median sales price in 2022 in Wenham, Massachusetts was $960,000 which was 6.7% more than the median price of $900,000 in 2022. 

The 4th worst performing town was Merrimac, Massachusetts which had 36 homes sell in 2023. This 36 houses was 30.8% less than the 52 units that closed in 2022. The average sales price of $642,292 was 5.8% less than the $681,874 that Merrimac recorded in 2022. It was a little of doozy when looking at it from the median sales price perspective. The $568,750 was 16.7% less than the median sales price of $682,500 in 2022. 

The  third worst performing town North of Boston was Carlisle, Massachusetts which saw 50 homes sell. This 50 units was 2 units or 3.9% less than the 52 units that were sold in 2022. The average sales price of $1.333 million in 2023 was 6.9% less than the $1.432 million in 2022. The $1.25 million median sales price was 5.8% less than the median price of $1.327 million in 2022. 

The runner up of the worst performing town North of Boston is West Newbury. West Newbury saw 36 homes close in 2023 which was 3 units or 7.7% less than the 39 units sold in 2022. The average sales price of $848,974 in 2023 was 7.7% less than the average sales price of $919,603 in 2022. The median sales price tells a little bit of a different story with the $785,000 sales price being 2% higher than the $770,000 in 2022. 

This brings us to the biggest loser that is North of Boston. Newbury, Massachusetts had 53 Single Family homes sell in 2023 for an average sale price of $978,084. The 53 units sold was 15.9% or 10 units less than the 63 units that sold in 2022. Meanwhile the average sales price dipped 8.2% from the 2022 average sale price of $1.066 million. Median pricing told a similar story with the median price of $840,000 being 8.2% less than the 2022 median price of $915,000. 

Curious about what was going on in the West of Boston, South of Boston or the Boston Metro Market in 2023? You can also check out all the Quincy Homes For Sale by clicking here. Well then be on the lookout for those videos. You should also check out my 2024 Real estate market conditions video as well…

As always, I truly appreciate you keeping me in mind should you or anyone you know are thinking about buying or selling a home in 2024! 

And let me know if you have any questions. You can drop me a line in the comment section below or I invite you to reach out to me as all my contact information is in the description below. 

So until next time.

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