Salem Sale Prices Span Wide Range as Month's Median Reaches $660,000

SALEM -- Thirteen properties changed hands in Salem between Aug. 14 and Sept. 12, with disclosed sale prices ranging from $421,500 to $1,049,050 and a median of $660,000 among the seven transactions that included a price.

MARKET OVERVIEW Thirteen deeds were recorded at the Essex County (Southern District) Registry of Deeds for Salem properties during the period. Of those, seven disclosed a sale price, ranging from $421,500 for a condominium unit at 113 Bridge St. to $1,049,050 for a property at 19 Stormwater Drive. The median sale price among the seven disclosed transactions was $660,000. The remaining six deeds, nearly half of all recorded transfers, did not include a sale price, a pattern common to trust transfers, family transfers and transfers between related business entities. Based on raw count alone, 13 recorded deeds represents a moderate volume of activity for a one-month period; the dataset does not include prior-month figures for comparison.

TOP SALES 19 Stormwater Drive, Lot 96, sold for $1,049,050 on Sept. 10. Paul Dibiase, as trustee, sold the property to Frank H. Gern.

25 Bow St. sold for $910,000 on Sept. 11. 25 Bow Salem LLC sold the property to Jacob Horowitz.

A Salem property recorded in the registry as "See Record" sold for $715,000 on Sept. 9. Paul Sung Ventresca sold the property to Katherine Hempel.

32 Raymond Road, Lot 20, sold for $660,000 on Sept. 9. Stephen M. Keough III sold the property to Jasiel Lora.

9 Lemon St. sold for $570,000 on Sept. 10. Albert J. Mieli sold the property to Jeffrey R. Mellies.

NEIGHBORHOOD BREAKDOWN Bridge Street recorded three separate transactions during the period: a unit sale at 113 Bridge St. ($421,500), a transfer of 252 Bridge St. from the Salem Redevelopment Authority to Exchange Salem Four LP (price not disclosed), and a subsequent transfer of a unit at 252 Bridge St. from Exchange Salem Four LP to Exchange Salem Nine LP (price not disclosed). Among the seven sales with disclosed prices, two fell under $500,000 (113 Bridge St. Unit 3 and 23 Summer St. Unit 2), four fell between $500,000 and $1 million (9 Lemon St., 32 Raymond Road, the Sept. 9 "See Record" sale and 25 Bow St.), and one exceeded $1 million (19 Stormwater Drive).

MARKET NOTES At least five of the 13 recorded transfers carried a unit, lot or condominium designation rather than a standalone single-family address, including units on Summer, Bridge and Flint streets. Several transfers moved property within the same family or trust rather than to a new outside buyer: 10 Curtis St. was transferred from Judith A. Leduc to Judith A. Leduc as trustee; 5-7 Flint St., Lot A-2, was transferred from Ilse Peirce to Ilse Johanna Peirce as trustee; and 37 Liberty Hill Ave. was recorded from Elaine Guy Stavros to Elaine Guy Stavros. None of these three transfers disclosed a sale price. The Salem Redevelopment Authority was the seller of record in two separate transactions, at 32 & 34 Federal St., Lot 2, and at 252 Bridge St.; neither disclosed a price. Bedroom, bathroom and square-footage figures were not available in the deed records reviewed for this report.

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.