Marblehead

Marblehead Q3 2017 Housing Report: prices break through $700,000
The median price of a Single Family Home (SFH) exceeded $700,000 for the first time in the third quarter. YTD the median price increased 7% to a new high of $656,000. With most of Q4 sales already under agreement, it is quite likely that the median price will exceed $700,000 for the second half of the year. Sales were down slightly YTD, a consequence of the low inventory all year

Marblehead Mid-Year 2017 Report: Onwards and Upwards

Despite the low level of inventory all year, sales of Single family Homes (SFHs) were very similar to those of the previous 5 years, but the median price increased by more than 5% to a new high for the first half of the year of $628,000.

Marblehead First Quarter 2017 Housing Market Report

In a very tight housing market, there were 35 Single Family Home (SFH) sales in Q1 2017, very consistent with the last two years. Because Q1 is the smallest quarter for sales numbers for the median price can – and do – fluctuate widely from year to year

Marblehead 2016 Housing market By The Numbers
The median price for both Single Family Homes (SFH) and condos reached new highs in 2016. The median price of a SFH increased 4% to $620,000 ( click here for a detailed report ) and the median price of a condo increased 15% to $370,000, fueled by a sharp jump in sales between $350,000 and $500,000.

Marblehead 2016 housing market: new record
In 2016 the median price of a Single Family Home (SFH) increased by $23,500, or 4%, to $620,000, the first time the median price in Marblehead has exceeded $600,000 for a year. As in every year since 2000 except 2010 and 2011, the median price was higher in the second half of the year than in the first half.

Twenty Questions with Marblehead Assessor

Tax bills went out Dec. 27. If you’ve ever wondered how those bill break down here is your answer.

Marblehead Q3 2016 Housing Market Summary
Through the Third Quarter, the median price of a Single Family House (SFH) in Marblehead declined by 1% to $612,500, while that for a condo rose by 18% to a record $372,500.

Marblehead Q3 housing market – on track for new record high
YTD through 9 months the median price is $612,500, down 1% from last year’s $619,000. Because the majority of the Q4 sales are already under agreement, however, I can be confident that the median price for 2016 as a whole will exceed $600,000 for the first time.

Marblehead Mid-Year 2016 Report: median price up 4%
The market in Marblehead in the first half of 2016 showed steady, but unspectacular progress

Marblehead home prices set record in 2016 First Quarter
Marblehead home prices set a record in the first Quarter of 2016, with the median price of $660,000 equalling the record quarterly number in Q3 2015. But……the first quarter is almost always the lowest quarter in terms of the number of sales and, consequently, the quarter most likely to be distorted by the pattern of sales.

Marblehead Q1 2016 Housing Market by the Numbers

Sales of both SFHs and Condos were quite consistent with the last couple of years. The median price of a SFH was the highest recorded in the first quarter, but as my report above showed a lot of that was due to the mix of sales in the quietest quarter of the year

2015 Marblehead housing market review
Sales of Single Family Homes (SFH) were down modestly from last year – at 239 vs 245 – and the median price was up slightly at a new record $596,500, compared with $590,000 in 2014.

Marblehead 2015 Condo review

The highlights of this 2015 Marblehead Condo market review are that sales recovered back to their 2008 level, while the median price – which must always be treated with caution in a small market such as Marblehead – declined slightly. Note the analysis of sales a little further on in this report. Click here to read my review of the Single Family market.

Marblehead home prices set record in Q3
In Q3 the median price of a Single Family Home (SFH) in Marblehead reached $660,000, finally beating the 2006 Q3 figure of $645,000. . For the first 9 months of 2015 the median price was $621,500, an increase of 6% from $585,600 in 2014.

Marblehead 2015 Mid-Year Housing Market Review
This article will review prices, sales and supply for the Single Family Home (SFH) market in Marblehead in the first half of 2015.

Marblehead First Quarter 2015 Housing Market
It’s over. We survived. Hallelujah!
So how was the housing market in Marblehead?

Marblehead market 2014 highlights
SFH median price hits new high of $590,000, beating the previous peak of $585,000 in 2006.

Third Quarter Review
The median price of a SFH increased 6% to $595,000 in Q3 2014, while sales ticked up slightly. There were more sales in the $500-749k range than under $500k, a reversal of the position last year.

Marblehead Mid-Year Housing Review
The median price of a Single Family Home (SFH) in Marblehead reached a record level of $582,500 in the first half of 2014, narrowly beating the previous high of $577,562 in 2006. Note, however, that prices have not yet bettered the levels in the second half of both 2005 and 2006. The median price for the full year in 2005 and 2006 was $584,000 and $585,000 respectively, so it would appear at this stage that 2014 will see us very close to prior peak levels.

2014 Mid-Year Condo Review
At first glance, the Marblehead condo market reached a record median price level in the first half of 2014, beating the previous high for the first half by more than $20,000. But it is always important to keep in mind that the condo market here is small, something which can distort raw numbers. There were 19 sales in the first half of the year. The sale immediately below the median was $328,000 and the one above it $405,000, so one more sale in the quarter could have had a marked impact on the median price.

2013 Review and 2014 Outlook
I concluded my 2012 review with these words: “clearly 2012 was the year when the market nationally turned up. More importantly, perhaps, it also marked the turn in sentiment, with the view becoming widespread that the market has bottomed and is improving, in some cases sharply.”There is no doubt that 2013 was a year when the headlines about the housing market were dominated by stories of rising prices and bidding wars, with many, many properties throughout the country – and in Marblehead at the lower levels – selling above list prices. The median price for a Single Family Home (SFH) in 2013 was $535,000,up from $510,000 in 2012 and from $524,950 in 2011. Sales, at 227 were unchanged from 2012, largely because the shortage of available properties for sale, a factor all year, really took hold in Q4.

2013 Condo Market Review
After several years of high inventory the condo market in Marblehead turned around sharply in the second half of 2013. At mid-year there were 24 condos available for sale after just 12 sold in the first half of the year. In the second half of the year, however, there were 34 sales, the highest number in any six month period since 2005, and as of today there are just 9 condos for sale in Marblehead, and 3 of those are priced at $625,000 or higher. The law of supply and demand suggests that 2014 will be a good year for condo prices in Marblehead.

2013 Third Quarter Review
Of  the 83 Single Family Homes (SFHs) that sold in MHD in the first 9 months of the year 24, or nearly a third, sold ABOVE list price. The flip side is that sales at the higher end remain in the doldrums. I have put N/M (Not Meaningful) for months of supply at the higher end, not to try to mask the situation, but because the number of sales is too small for the calculation to be useful. Let’s just say that if you are looking for a house in MHD over $2 million, you are unlikely to run out of options in the near future.

2013 Mid-Year SFH Review
The word is out that prices have bottomed and are rising. There is still activity, of course, as people move, trade up or trade down, etc. But an awful lot of people, having seen their largest personal asset decline in value in recent years, are happy to sit tight for now.

2013 Mid-Year Condo Review
Just like the Single Family (SFH) market, the condo market in 2012 saw a swing to greater sales taking place at lower price levels. And just like the SFH market this caused the median price for the market overall to fall. And just like the SFH market, the condo market in 2013 has moved on from the high level of sales at lower levels. The result has been that the median price in the first half (H1) of 2013 has recovered to 2010 levels and is very close to all-time highs.

2013 First Quarter Report
The first quarter is usually the slowest of the year for sales and that pattern continued in 2013. But that doesn’t tell the whole story. As the quarter went on, activity accelerated as I have reported in several posts.

2012
2012 Year End SFH Review and 2013 Outlook

2012 Year End Condo Market Review

2011
2011 Year End Review:Market Returning to Normal

2011 Mid-Year Review:Market Continues Recovery

2010
2010 Year End Review:Market Poised for More Gains

2009
2009:Year End Review:Ends on Positive Note

2009: Mid_Year Review: a Big Papi property market in Marblehead

Twenty Questions with Town Assessor

2008
2008:Year End Review:Surprising Second Half Rise

Lies, damned lies and statistics

If you  – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com. Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

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