I’m going to jump right in with the numbers of Wenham Real Estate last year compared to the year before.
Wenham MA Real Estate Overview
Single Family Homes in Wenham
There were 49 single family sales in 2022 down from 57 in 2021, marking a 14.04% decrease.
The average Sales Price for Single Family homes was $1,121,561 which is up 7.1% from the year before in which we saw $1,047,169.
The average sale price per square foot increased 8.72% to $365.90 from $336.54.
Note that none of these metrics are perfect, especially on their own, but I do think that these combined give the best picture of what’s going on in the market.
Condos in Wenham
There were 19 condo sales in 2022 up from 14 in 2021.
The Average sales price for condos increased to $987,353 from $685,768 which is just shy of a 44% Increase. The average price per square foot went from $336.76 to $470.87.
Because there were so few sales, these numbers are more easily swayed in one direction or the other. This is kind of the law of small numbers at play here.
The main story with the condo sales was the new development: Wenham Pines, of which there were 12 sales with an average price point just shy of $1.3 Million hence the rather extreme Average price jumps.
Wenham does have a higher turnover rate, taking the total number of sales and dividing by the number of housing units, it comes out at 4.66%, even after taking Wenham Pines out of the picture, it still would be 3.83%
So what does all of this mean?
Simply put, Average sales prices increased in Wenham, the number of sales decreased slightly. The new development at Wenham Pines was the star of the show with 12 sales out of the 68 total sales in Wenham at an Average Price of roughly $1.3 Million
Wenham Real Estate Currently
So that covers last year compared to the year prior, We’re currently in the 4th week of January and here’s where we stand:
Currently there are only 6 listings in Wenham, 3 of those are condos and 3 are single family homes. All of the condos are part of Wenham Pines.
So basically not much new in Wenham as we wait for the Spring market to kick in and the inventory to follow
Living in Wenham
Wenham is known for its well-preserved colonial and Victorian homes, which provide a glimpse into the town’s rich history.
The town center is filled with local shops and restaurants, and the Wenham Museum offers visitors a look into the town’s past.
But Wenham is not only about history, it also offers its residents a variety of outdoor recreational opportunities.
The town is surrounded by beautiful natural landscapes, including the Ipswich River that’s perfect for hiking and fishing.
Moving to Wenham
The town’s charming atmosphere, rich history, and excellent schools, along with proximity to outdoor activities and transportation, make it a great place to call home.
Wenham does have a fairly high residential real estate tax rate at $17.35 per $1,000 of assessed value – This is the highest tax rate in Essex County followed by Amesbury and Hamilton at $16.34
Wenham is also known for its excellent schools, which are a major draw for families. The town is part of the Hamilton-Wenham Regional School District, which consistently ranks among the top schools in the state.
The town is also well-connected by public transportation, with easy access to Boston via the commuter rail. Wenham is also located near several major highways, making it a convenient place to live for those who need to travel frequently.