Family Trust Transfers Dominate Peabody Deed Recordings as Home Prices Hold Near $700,000

PEABODY -- Fifteen properties in Peabody changed hands over the past month, according to deeds recorded at the Essex County Southern District Registry of Deeds, but most were transfers within the same family or into a revocable trust rather than sales to unrelated buyers. Among the transactions with a third-party buyer and a disclosed price, sale amounts ranged from $485,000 to $791,000.

MARKET OVERVIEW Fifteen sales were recorded between Aug. 14 and Sept. 12. Of those, five included a disclosed sale price, ranging from $485,000 to $791,000, with a median of $693,500. A count of 15 recorded deeds is a routine volume for Peabody over a four-week span, but with only a third of the entries disclosing a price, the raw count offers limited insight into pricing trends on its own. The five disclosed prices came from a mix of transaction types: three straightforward sales between unrelated buyer and seller, one sale by a trust to an individual buyer, and one estate sale handled by a representative.

TOP SALES The five sales with disclosed prices make up this month's highest-value transactions. 9 Nancy Ave. Lot 14 sold for $791,000 on Sept. 8. Wilson Ochoa sold the property to Michael Doyon. 3 Fitz Rd. Pt Lot 16 sold for $699,000 on Sept. 10. Elizangela T. Lucas Dafonte sold the property to Stephanie Auguste Jean Philippe. 43 Catherine Dr. Lot 161 sold for $693,500 on Sept. 10. The Gerald Cerretani Revocable Trust sold the property to Eliseo Velasquez. 6 Haskell Pl. Lot 9A sold for $645,000 on Sept. 8. Brian K. Davis sold the property to Marc A. Miranda. 12 Ledgewood Way Unit 1, Building 12, sold for $485,000 on Sept. 8. Barbara Stevens, as estate representative, sold the property to Rocco Carullo.

NEIGHBORHOOD BREAKDOWN No single street produced more than one sale among the disclosed-price transactions, and the five top sales are spread across five different streets: Nancy Avenue, Fitz Road, Catherine Drive, Haskell Place and Ledgewood Way. One address, 16 Hathaway Ave., generated two separate deed filings, listed as Lot 17 and as the unlotted address, both recorded Sept. 8 with the same seller and buyer name and no disclosed price. By price tier among the disclosed sales, one transaction fell under $500,000: the $485,000 condominium unit on Ledgewood Way. The remaining four fell between $500,000 and $1 million, including the month's top sale on Nancy Avenue at $791,000. No disclosed sale exceeded $1 million.

MARKET NOTES Nine of the 15 recorded deeds, the majority for the period, transferred property between parties sharing the same last name or into a trust bearing the seller's own name: 10 Magnolia Ter., 8 Dana Rd., 10 Sparrow Lane Extension, 6 Pocahontas Dr., 80 Foster St. Unit 207, 6 Felton St., both Hathaway Avenue filings, and 2 Murdock Dr. None of those nine disclosed a sale price. The six remaining transactions involved a change in ownership to a buyer with a different last name from the seller, and five of those six disclosed a price. Among the disclosed sales, one was a condominium unit (12 Ledgewood Way) and the other four listed lot numbers consistent with single-family parcels. Bed, bath and square-footage figures were not available in the recorded deed data, so no price-per-square-foot comparison could be made this period.

Recorded Deeds

Source: Registry of Deeds. Sale amounts shown as recorded; transfers without a disclosed consideration are noted as such.

Compiled from official town feeds, community organizations, and local press. Outside reporting is attributed inline.