Marblehead Oceanfront Open House Sunday

What better way to spend Sunday than to drive to Marblehead, have a leisurely brunch at one of our fine restaurants, and then visit this spectacularly located property which contains a main house and a fully restored carriage house sitting directly on the ocean’s edge, while being uniquely protected from storms. (more…)

Massachusetts home sales reach highest level since 2004

According to the Massachusetts Association of Realtors (MAR) July Report sales of Single Family Homes (SFHs) in July rose 20% from a year ago, while the median price at $350,000 increased by 8%. The number of sales was the highest in one month since July 2004. (more…)

Missing in Action: Reflections on Mimi’s disappearance and return

This Column was published yesterday in the Marblehead Reporter online edition.

Mimi came home yesterday!

As I posted Mimi’s absence here I should also post the wonderful news that she is back home! (more…)

Mimi sightings on Lucia and Treat: please keep a look out!

There has been another possible sighting yesterday on Lucia Road (not far from the Treat sighting on Sunday). I’m off to post this new flyer, which will be in the Reporter on Thursday. Please call 781.631.1223 with any possible sighting! Thank you.

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My daughter’s cat is missing: please help us find her

The last 3 days have been consumed with trying to find Mimi, my daughter’s indoor cat, who disappeared Tuesday night/Wednesday morning from Crown Way, Marblehead. This is she: (more…)

Would you like to see this sign at your house?

Sold: 36 Crestwood Road

How a house is presented to the market has a major influence on how quickly it sells and at what price. 90% of buyers use the internet in their home searches.

For this house I had a website, www.36Crestwood.com with interactive floor plans.

I used Facebook marketing which resulted in more than 400 clicks on the website in one weekend.

If you are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 781.631.1223 or andrew@HarborsideRealty.com

 

Why Fannie Mae, the most profitable company in the world, should bail out Detroit

Ok that headline may take a minute or two to digest, so I am going to split this post into sections. (more…)

Million dollar homes in Massachusetts

A Million Dollars still conjures up an image of luxury, and I suspect many of us are attracted to headlines which include the magic number. This article will look at Million Dollar homes for the counties of Massachusetts, with a breakdown by town for Essex County.

Note that all numbers are from the MLS, which does not include Nantucket or Martha’s Vineyard, and may exclude some sales in other parts of the State which have their own reporting system. With that caveat, let’s get started.

First, sales for the Last 12 Months (LTM).
Here’s a pie chart:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

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What was the price of a Single Family Home in Marblehead in July?

It’s August, known in some quarters as the silly season, when hard news is short. So here’s my silly season contribution.

Quiz: the price of a Single Family Home in Marblehead in July 2013 was:
(a) $590,000
(b) $635,250
(c) $697,837
(d) $712,815
(e) all of the above

The answer is (more…)

Is Detroit real estate a bargain?

Buying real estate in Detroit may not be an obvious investment idea, but Realtor.com included it in its Top Ten Turnaround Towns in a study of residential real estate markets in the second quarter.

“Most noteworthy is Detroit’s ranking at No. 7. Though the city recently filed bankruptcy, the market nonetheless posted strong improvement in the second quarter. Its median list prices on realtor.com® were 37.8 percent higher for the quarter than they were a year ago, while inventories were down 26.5 percent. The market’s median age of inventory is just 45 days, the second lowest in the nation.” (more…)

North Shore housing inventory by price: still famine or feast

While the low level of overall supply suggests we are still in a sellers’ market, the position varies dramatically by price.

Look at this table for SFHs:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

I think this demonstrates the buying frenzy that has occurred in recent months at the lower end. Naturally, there are fewer buyers as prices increase, but the low level of sales at the top end continues to baffle me. (more…)

North Shore housing inventory by town: supply remains tight overall

After increasing from 3 months of supply in April to 4 months in July, the inventory of Single Family Homes (SFHs) tightened very slightly to 3.9 months at the beginning of August.

Meanwhile, the supply of condos continued to decrease. After going from 3.8 months in April to 4.7 months in June, as the summer selling season got into its stride, supply has dropped for two months in a row down to the current 3.9 months.

With 6 months of supply generally regarded as representing a market in equilibrium between buyers and sellers, it is clear that overall the North Shore remains a sellers’ market. But there are wide differences from town to town and, as we shall see in my next post, by price level. (more…)