Open Houses Sunday February 17
Snow tomorrow but sunshine today to visit these Open Houses:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending February 15
As, we hope, we head towards spring and more new listings coming on to the market, I am resuming publication of current inventory along with the details of New Listings and Open Houses:
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend February 16/17
As, we hope, we head towards spring and more new listings coming on to the market, I am resuming publication of current inventory along with the details of New Listings and Open Houses:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Amazon pulls out of New York deal: whoops
According to this Mansion Global article, The danger of speculative home buying, in the three months since Amazon announced plans to build a new HQ in Long Island City some 138 buyers signed contracts for apartments, triple the number for the same period a year ago.
And now, Amazon has cancelled plans to move to Long island City. Whoops indeed.
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Inventory : rising trend continues
The number of Single Family Homes (SFH) for sale in the 34 cities and towns of Essex County increased again in February, the 8th consecutive month of increase Year-on-Year. The first chart below shows January-June and the second one July-December:
Condos
It is the same story with condos, except that here the increase in February was the 9th consecutive month of Year-on-Year increases:
Comment
Translating inventory into months of supply is complicated this early in the year for two reasons: inventory is always low in the winter, as is sales activity. I will, however, write another post soon showing the current inventory by price for each of the towns and cities of Essex County.
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Henry VIII and Anne Boleyn honeymooned here
Mansion Global reports that the house where Henry VIII and Anne Boleyn honeymooned in is now for sale.
The house had fallen into disrepair until a team of historic preservation organizations, including the Spitalfields Trust and English Heritage, rallied together to restore the ancient gatehouse between 2006 and 2011.
$3.5 million seems a small price to pay for such a piece of history.
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses Sunday February 10
Here are the Open Houses on the first Sunday after the Super Bowl:
Marblehead open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend February 9/10
Here are this weekend’s Open Houses:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Essex County 2018 Housing Market By The Numbers
[Click here to download a copy of this report.]Single Family Homes(SFH)
The median price of the SFHs sold in the 34 cities and towns of Essex County increased 3.9% to $457,000, while sales eased very slightly from the 2017 level.
Condos
The median price of Condos sold in 2018 increased 5.3%, reaching $300,000 for the first time. Sales declined by 5% from the 2017 level.
*figures in bold represent record levels
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Essex County Median Home Prices: Town by Town
[Click here to download the table listing towns in alphabetical order, and here to download the table showing towns from highest to lowest median price.]Overall, in the 24 cities and towns of Essex County, the median Single Family Home (SFH) price increased 3.9% to $457,000, while sales were down 2%.
The table below shows the median price for each town for the last 4 years, with the percentage change in 2918. It also compares sales for the last two years.
Note that a small number of sales can lead to price fluctuations, as in Essex Town, Rockport and Wenham amongst others. In general, the larger the number of sales, the more reliable is the median price.
While the overall median price in Essex County was $457,000, only 12 of the 34 cities and towns had median prices below this level, while 22 had median prices above $457,000. The reason for this is that the median price for the the County is calculated by taking all individual property sales, and many of the towns with a large number of sales are in communities with lower prices.
Calculating the median price for Essex County using towns rather than individual sales produces a median price of $547,500.
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending February 8
Here are the latest new listings:
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses on Super Bowl Sunday
Just a few Open Houses today:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
GO PATS!
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend February 1/2
The forecast says it will warm up in time to visit Open Houses today:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending February 1
Weather is no doubt a factor in the small number of new listings this week:
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Twenty Questions with Marblehead Assessor
[Click here to download a copy of this article which first appeared in the Marblehead Reporter on January 31.]The FY2019 (July 1, 2018 – June 30, 2019) tax rate has been set at $10.74, down from $11.02 in FY2018. While the median single family (SFH) assessment increased 4.5%, or $27,000, to $630,000, the median single family tax bill increased by just 1.7%, or $121, to $6,766. The commercial rate has once again been set at the same level as the residential rate.
Note that the tax rate includes the cost of debt exclusions (mainly for school construction and items like the new transfer station) voted by residents. Debt service accounts for $1.02 of the 2019 tax rate, down from $1.12 in 2018. Excluding the cost of debt service, the tax rate fell from $9.90 to $9.72.
Marblehead’s 2019 tax rate will be the second lowest of the 34 cities and towns in Essex County. The highest rate in Essex County belongs to Amesbury at $18.34; the lowest Rockport at $9.86; and the median is $14.02.
Approximately 75% of Marblehead’s revenue comes from property taxes.
Real-estate assessments for Fiscal Year 2019 were mailed at the end of last year. Assessor Mike Tumulty answered questions about the process.
1. What is the timeframe upon which assessments are based?
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- MT. For FY2019, assessments are based upon values as of January 2018, using sales data for calendar year 2017. Sales that took place in calendar year 2018, therefore, will be the basis for the assessment for FY 2020.
2. What percentage of properties sells each year?
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- MT. In 2017 there were 204 arms-length sales of SFHs, or 3% of the stock of 6,222 houses, and 62 sales of condos, representing 6.3% percent of the stock of 985 units.
- AO. While it is hard to get an accurate read on national statistics, it is certainly true that we stay in our houses longer than do people elsewhere. No surprise there: Marblehead is not only a great place to live, but it is also extremely well run, as demonstrated by our low tax rate.
3. Is there a minimum requirement for assessment purposes?
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- MT.The assessment process requirement is 2 % for each property class, or a minimum of 20 units. Where there are fewer than 20 sales, as in categories such as multi-families and commercial, data for 24 months is used. For FY 2019 that period is July 2016 to June 2018.
4. Can I appeal my assessment? (more…)
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