NewburyportNews.com, Newburyport, MA

Local News

July 18, 2014

Amesbury real estate market on upswing

Realtors point to downtown, affordable homes as reasons

AMESBURY — A combination of affordability and a revitalized downtown seem to be key elements in a recent upswing in the city's real estate market according to Stone Ridge Properties broker/co-owner Cathy Toomey.

"The downtown is very captivating now," Toomey said. "People who are driving into this town for the first time never fail to express how beautiful they think it is."

According to the Multiple Listing Service (MLS), the average price for a single family home in Amesbury in 2012 was $277,710 and would spend 171 days on the market. In 2013, the average price was $312,407 and it would stay 131 days on the market. In 2014, the average price was $317,337 and 108 days on the market.

Amesbury condominiums had an average price of $125,014 in 2012 (186 days on the market), $201,500 (161 days on the market) in 2013 and $188,535 (100 days on the market) in 2014.

"Right now, if something is priced well, it is moving," Toomey said. "Certainly Amesbury has always been entry-level housing. If you are looking for a town that (does not feel like) a city and is smaller community and don't want to be in the bigger cities like Haverhill, Lawrence, Lowell or even Salem, then Amesbury is affordable."

In 2012, 17 single family homes sold for under $200,000 in Amesbury, according to MLS. The next year saw many homes at the low-end of the market move, as well as short sales and foreclosures which helped to push the sales number up to 20 in 2013. In 2014 so far, nine single family homes have sold for under $200,000.

Toomey has been selling homes in for Amesbury since 1979 and said that she believes that the decline in sales so far this year is primarily due to a lower amount of inventory. Re/Max on the River realtor Vincent Forzese has lived in town for seven years and has been working its real estate market for the past nine.

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