Salem Home Prices Span Wide Range as $7.9 Million Sale Tops July-August Deeds

SALEM -- Fourteen property sales recorded in Salem between July 31 and Aug. 7 ranged from a $315,000 condominium unit to a $7.9 million commercial transaction, according to deeds filed with the Essex County (Southern District) Registry of Deeds.

MARKET OVERVIEW

The registry recorded 14 sales in the period, with disclosed prices on 13 of them. Prices ranged from $315,000 to $7,900,000, and the median sale price was $611,000. The raw count of 14 recorded deeds, without comparable data from prior periods, does not by itself indicate whether this represents an active or quiet stretch for the city.

TOP SALES

The period's largest transaction was a $7.9 million sale of a property identified in deed records only as "See Record," recorded Aug. 5. The seller was listed as 39 Norman Street LLC and the buyer as Centerboard Inc. At 20 Winter St., the property sold for $1,375,000 on July 31; Timothy J. Kenslea was the seller and Craig E. Vercolen the buyer. A unit at 20 Strongwater Dr., Lot 122, sold for $1,047,400 on Aug. 5, with Paul DiBiase, trustee, as seller and William Kelly as buyer. Units 1 and 3 at 50 Broadway sold together for $1,000,000 on Aug. 5; James H. Weener was the seller and Donald G. Manfra Jr. the buyer. The single-family property at 9 Phelps St. sold for $830,000 on Aug. 7, with Joseph DeLorenzo as seller and Christina Gentile as buyer.

NEIGHBORHOOD BREAKDOWN

No two sales in the period shared a street name, so the transactions are grouped by price tier instead. Six sales closed under $500,000: 12-12 1/2 Dearborn St., Unit 12 1/2 ($385,000); 11 Weatherly Dr., Unit 11 ($490,000); 8 Burnside St., Unit 2 ($315,000); 2D Arnold Dr., Unit 15-D, Building 15 ($465,000); 149 Derby St., Unit C ($349,900); and 289 Essex St., Unit 308 ($395,000). Three sales fell between $500,000 and $1 million: 7 May St. ($611,000), 1 Orient Way, Unit 26A ($625,000), and 9 Phelps St. ($830,000). Four sales were priced at $1 million or more: 50 Broadway, Units 1 & 3 ($1,000,000); 20 Strongwater Dr., Lot 122 ($1,047,400); 20 Winter St. ($1,375,000); and the $7.9 million "See Record" transaction. One sale, at 67-69 Winthrop St., had no price disclosed.

MARKET NOTES

Eight of the 14 recorded transactions involved condominium units, identified by unit numbers in the deed records: Dearborn Street, Weatherly Drive, Burnside Street, Orient Way, Arnold Drive, Derby Street, Essex Street and the Broadway sale. The remaining six deeds covered properties without unit designations, including the Phelps Street, May Street, Winthrop Street, Strongwater Drive, Winter Street and "See Record" transactions.

Five of the 14 deeds listed a trust as the seller: 7 May St. (Emmanuel Alexandrou, trustee), 67-69 Winthrop St. (Anastasiya Pavlovna Temchenko transferring to Anastasiya P. Temchenko, trustee), 20 Strongwater Dr. (Paul DiBiase, trustee), 8 Burnside St. (the Lorraine H. Ciliberto Special Needs Trust) and 149 Derby St. (Beacon Realty Partners LLC, trustee). The Winthrop Street transfer moved the property from an individual to a trust bearing the same name; no price was disclosed for that transaction. The top sale involved two business entities, 39 Norman Street LLC and Centerboard Inc., as seller and buyer.

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.