Waterfront home prices dropping in Massachusetts and climate change may be to blame
SALISBURY - If you're looking for a waterfront home in Massachusetts you can get a deal, but there's a risk.
On Salisbury Beach, heavy equipment has been a common sight this winter, hauling in tons of sand to replace what is getting washed away during increasingly dramatic storms.
"It was like you were in a waterpark. The water was just washing all the sand," said Jason Amiss, who lives in a home facing the beach.
"Too much of a burden"
In some cases, it's adding urgency for waterfront homeowners to sell, and even lower prices to do it more quickly. Within 10 days after a major storm on March 10th, three Salisbury beachfront homes were suddenly listed.
"That could be the catalyst for some people," said real estate agent Karen Forrest with Blink Estates. "It may be too much of a burden financially."
"Sell now"
In Nantucket, a beachfront home on Sheep Pond Way sold for $600,000, which dropped from $2,295,000 in September. According to Zillow, a previous owner had listed it for $3,285,000 back in 2017.
"That's going to send a signal to homeowners currently living in those homes, sell now before it maybe gets worse," said Forrest.
Recent headlines don't instill confidence in beachfront investment. In Hampton Beach in New Hampshire, homes were flooded in January. Then in February, waves splashed over Scituate's seawall, threatening homes. On Plum Island, it's been a decade since one of the most iconic examples of beachfront heartache, when a home toppled right into the ocean.
"We definitely are aware of all of the risks for climate change," said Forrest. "It's a wake-up call for us as a community to take action and better serve our clientele."