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The Topsfield Real Estate Market (Topsfield MA in 2023)

This article goes over the Topsfield Real Estate Market, what it’s like living in Topsfield, and whether or not you should consider moving to Topsfield Massachusetts.

Topsfield is a relatively small town on the North Shore of MassachusettsAs of the most recent census, population is around 6,500 people and there are roughly 2,200 households.

With my real estate market breakdowns, I first go over the numbers, then transition into some of the town highlights and things you should know if you’re considering moving to Topsfield

Real Estate

Starting off with Topsfield real estate, I like to go over single family homes and then condos separately. Topsfield hardly has any condo sales, so I’d put more weight in what’s going on with the single family numbers

Single Family Sales Numbers in Topsfield

In 2022, there were a total of 64 single family sales in Topsfield. That’s 14 less than what we saw in 2021.

The average sale price in Topsfield was basically the same in both 2021 and 2022 at just under $900k, down less than a fifth of a percent year over year.

Looking at the average sale price per square foot, there was an over 13% increase from 2021 going from $311.20 to $352.76.

This is fairly consistent with the other towns in Essex County, where we noticed a reasonable drop in the number of sales. In most towns we did see the average prices increase, which Topsfield held steady, but went up on the per square foot average.

Condo Sales Numbers in Topsfield

Last year there was only 5 condo sales in Topsfield, down from 11 in 2021.

Here’s a list of the primary condo communities in Topsfield MA:

Those are the communities, then you have the occasional multifamily that was converted into condos, but for the most part, Topsfield is primarily a single family market.

Of the 5 sales in 2022, 2 were at Rolling Green, 1 was at English Commons, 1 was at The Meadows, and the last one was just a unit in a building versus a development.

Because there was only 5 sales, the averages aren’t too terribly useful, but with that said the average sale price of condos in topsfield was around $750,000.

A majority of the units part of the developments generally go in the mid 800s and have higher HOAs generally with a lot of amenities included.

Currently Real Estate Market in Topsfield

Moving now to the current Topsfield real estate market versus just looking at last year.

As of creating this, February 15th 2023, there’s only been one single family and one condo sale in Topsfield .

Compared to this time last year, we had 8 single family sales and one condo, so a much slower start, which can mostly be attributed to a slow November & December real estate market. 

Topsfield Single Family

Of what’s active, there’s only one single family that’s new construction at $2.1M and 3 condos, 2 of those being townhomes, and one is kind of a funky one that’s mixed use. 

Because there’s hardly any data, it wouldn’t make sense to compare averages when there’s only been one or two sales for obvious reasons.

But zooming out to Essex County, there’s been a massive drop in the number of sales compared to this time last year, but somewhat surprisingly, average sales prices are up about 5% for single family homes and nearly 12% for condos.

From what I’ve been seeing personally, a lot of people are jumping back into the market after taking extended breaks & the mortgage rates dropped back down into the 5s.

Highlights of Topsfield

Now for some of the highlights of Topsfield:

Topsfield Fair

The Topsfield Fair is the oldest agricultural fair in America, dating back to 1818. The fair is held annually in early October and attracts over 400,000 visitors. 

It features a variety of events, including livestock shows, tractor pulls, amusement rides, and live entertainment.

Bradley palmer State Park

Bradley Palmer State Park is a 721-acre park located in Topsfield. The park features the Willowdale Estate, formal gardens, and over 20 miles of trails for hiking, horseback riding, and cross-country skiing.

Ipswich River Wildlife Sanctuary

The Ipswich River Wildlife Sanctuary is a 2,800-acre nature reserve located in Topsfield. The sanctuary features over 12 miles of trails that wind through forests, fields, and wetlands, as well as a visitor center, bird blind, and canoe launch.

Hoods Pond

Hoods Pond is a small pond located in Topsfield. It is a popular spot for fishing and kayaking/canoeing, and there is a small beach area for swimming.

Moving to Topsfield

If you’re considering moving to Topsfield, here’s a few things you should probably know:

Cost of Living in Topsfield

Topsfield is an affluent community with a relatively high cost of living. Housing costs are particularly high, with the average sale price last year and the year before at just shy of $900,000.

Topsfield Education

Topsfield is part of the Masconomet Regional School District, which serves the towns of Boxford, Middleton, and Topsfield. Masco is highly regarded, and the district as a whole consistently ranks among the best in the state.

Transportation 

Topsfield is located on Route 1 and I-95 making it a convenient location. Commuting to Boston or other nearby cities is possible, but as with any north shore town, traffic can be heavy during rush hour. 

For those looking to take the train into the city, the nearest commuter rail station is located in nearby Ipswich.

Conclusion

If you’re in the market to buy or sell a home in Topsfield Massachusetts or nearby, reach out

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