“In New England, it would be hard to buy a nice oceanfront property for less than in Salisbury,” Gorniewicz,said.
Also rising in value are primarily year-round homes located on the west side of North End Boulevard, along the salt marsh between 9th and 12th streets. Gorniewicz speculated one reason for that is the work being done in town with the Army Corps of Engineers to build a flood wall to keep marsh waters from invading the neighborhoods there during winter storm tides.
On 11th Street there were two home sales during the 24-month period analyzed that indicated this trend, she said. One, assessed at $482,000 sold at $520,000, and another sold for $480,000, $10,000 above its valuation.
“That’s a year-round neighborhood,” she said. “I think we’re seeing people looking to live year-round at the beach here in Salisbury who can buy homes in that price range.”
But there has been a slide in sales prices in the south end of the beach, she said, with a number of factors making that a reality. For one thing, she said, there are a good number of homes on the market in the south end of the beach, and they’re staying on the market for a while before selling, with listing prices dropping over time.
In addition, she said, the south end is more densely built.
“Historically, the south end just is a lot more tightly configured than the north end,” Gorniewicz,said. “There are more homes with multiple units (within them), and they’re on smaller lots. And Atlantic Avenue is more narrow and it’s one way. All those things contribute.”
Gorniewicz said what she’s observed is oceanfront homes with street frontage in the south end selling in the $700,000 range at the south end, after initially being listed at around $850,000.