Highest Sale Price 2024- 10 Boardman Ave Manchester MA. Congratulations to the Fabyan and Filias Team at J Barrett & Company. Listed for $15,675,000 and Sold For $13,800,000.
Starting Fresh in 2025
As we kick off the new year, one thing is clear: the real estate buzz isn’t slowing down. My inbox and phone have been lighting up with questions like:
- What’s the market going to do?
- Are prices heading up or down?
- Will we finally see more inventory?
- What are buyers looking for—and avoiding?
- Is Cape Ann and the North Shore still the hot spot?
- And yes—what’s the top winter project color trend?
These inquiries reflect both the curiosity and uncertainty surrounding the year ahead. While it’s hard to see a national surge in home prices, our local markets might tell a different story.
2024 in Review: Market Shifts in Focus
Last year brought notable changes:
- More price reductions
- Deals falling through
- An uptick in expired listings
National forecasts for 2025 are mixed, with appreciation predictions ranging from 0.91% to 4.9%. Morgan Stanley’s take? A bullish market could mean +5% appreciation, while a bearish one might drop -5%. Essentially, opinions are split—but the key insights lie in local data.
Cape Ann and North Shore Market Insights
Essex (Single Family Homes)
- 2023: 27 listed | 23 sold | Median List: $919,000 | Median Sale: $925,000
- 2024: 31 listed | 26 sold | Median List: $849,000 | Median Sale: $827,500
Gloucester (Single Family Homes)
- 2023: 157 listed | 124 sold | Median List: $599,000 | Median Sale: $529,000
- 2024: 151 listed | 123 sold | Median List: $729,000 | Median Sale: $799,000
Gloucester (Condominiums)
- 2023: 104 listed | 79 sold | Median List: $599,000 | Median Sale: $529,000
- 2024: 86 listed | 74 sold | Median List: $659,000 | Median Sale: $625,000
Rockport (Single Family Homes)
- 2023: 73 listed | 46 sold | Median List: $865,000 | Median Sale: $849,500
- 2024: 63 listed | 44 sold | Median List: $878,000 | Median Sale: $852,500
Rockport (Condominiums)
- 2023: 29 listed | 26 sold | Median List: $525,000 | Median Sale: $424,500
- 2024: 34 listed | 22 sold | Median List: $524,000 | Median Sale: $575,000
Manchester (Single Family Homes)
- 2023: 51 listed | 36 sold | Median List: $1,600,000 | Median Sale: $1,597,500
- 2024: 69 listed | 49 sold | Median List: $1,425,000 | Median Sale: $1,120,000
Hamilton (Single Family Homes)
- 2023: 84 listed | 64 sold | Median List: $824,000 | Median Sale: $773,250
- 2024: 94 listed | 82 sold | Median List: $892,000 | Median Sale: $889,500
Ipswich (Single Family Homes)
- 2023: 117 listed | 92 sold | Median List: $919,000 | Median Sale: $874,950
- 2024: 114 listed | 85 sold | Median List: $949,000 | Median Sale: $895,000
Ipswich (Condominiums)
- 2023: 54 listed | 47 sold | Median List: $575,000 | Median Sale: $575,000
- 2024: 49 listed | 45 sold | Median List: $610,000 | Median Sale: $615,000
Looking Ahead
The numbers reveal a dynamic landscape across Cape Ann and the North Shore. While some markets have cooled slightly, others show resilience and growth.
2025 holds opportunities for buyers, sellers, and investors—but staying informed will be critical. Whether you’re eyeing a winter renovation or planning your next move, I’ll continue sharing the data, trends, and tips to keep you ahead of the curve.
Let’s make 2025 a year to remember!