Open Houses Sunday October 30
60 degrees today so great weather to visit these Open Houses: (more…)
MA Q3 housing market report: headed for new high
The median price of a Single Family Home (SFH) in Massachusetts rose 4% to $383,000 in the Third Quarter (Q3) and 3% to $370,000 for the Year to Date (YTD). Both numbers represent new highs and suggest that 2016 as a whole will set a new record – finally beating the $362,000 of 2005.
While sales YTD were up almost 10%, they were actually down slightly in Q3, reflecting a 20% decline in inventory compared with a year ago. (more…)
72 hour sale on Marblehead Oceanfront home
The price on 11 Crown Way has been reduced to $2.75 million until Monday at 5 pm. There is an Open House on Sunday from 12:00-2:15.
Here’s a video and here are the floor plans.
Essex County Q3 housing market: on track for new record
The median price of a Single Family Home (SFH) in the 34 cities and towns of Essex County rose 4% to $420,000 in the third quarter and was also up 4% to $410,000 for the first three quarters. The market is clearly on track to break the 2005 peak of $394,400.
Sales were also up 4% for the first three quarters, but that included a drop of 8% in Q3, reflecting a more than 20% drop in the number of houses for sale. (more…)
New Listings week of October 28
Another quiet week for new listings: (more…)
Is this why there are so few homes for sale?
One of the puzzles of the housing market has been why there are so few houses available for sale. Many reasons have been proffered: buyers reluctant to trade up, impact of student loan payments on the ability to obtain a mortgage, boomers holding off selling while they recover from the Great Recession, low levels of new home construction, etc.
A new report Many starter-SFH homes have shifted to rentals from Fannie Mae reveals another reason: that nationally the stock of owner-occupied starter homes declined by more than 1 million units between 2005 (roughly the peak of the housing boom) and 2013 (the most recent year for which data are available), whereas the inventory of renter-occupied starter homes rose by approximately 2 million units during the same period (see chart). Starter homes – defined as SFHs with less than 2,000 sf of floor area – accounted for two-thirds of the growth in all single-family detached rentals during the period. (more…)
Open Houses Sunday October 23
Today’s Open House list covers almost exactly one-third of the total supply, with Swampscott SFHs again being under-represented. Individual OHs are shown by town below the table: (more…)
New Listings week of October 22
A welcome pick up in new listings in Swampscott, but otherwise another quiet week. (more…)
Salem Q3 condo market: booming sales, shrinking supply
While the median price of a Salem condo was flat in Q3 and up 3% YTD through the first three quarters of the year, the story of the year to date is one of sales up 19% while supply is down by more than one-third from a year ago. (more…)
Will this super yacht fit on your mooring?
Click Otam Gipsy to check out the details and more photos of the new Otam 115 ft super yacht. Wouldn’t this look nice in Marblehead harbor?
According to the American Luxury article (their grammar not mine): Internal staircases move passengers on the Gipsy across the main, upper, and sun decks with ease, the latter of which has been designed to accommodate for large parties and events with a Jacuzzi, large sun pads, and a centrally located bar area with a day head. (more…)
Open Houses Sunday October 16
A beautiful autumnal day will greet you as you visit these Open Houses, which represent more than one-third of all the properties on the market in all price ranges: (more…)
Saturday Open Houses
With Halloween looming there are more Saturday Open Houses this week: (more…)
Swampscott Q3 report: prices up, inventory well down
For the first 9 months of 2015 the median price of a Single Family Home (SFH) in Swampscott increased 6% to $485,000. This is the highest figure since the exceptional $507,000 in the first 9 months of 2005. While sales held up quite well in the first half of the year the acute shortage of inventory started to make an impact on sales in Q3. The last table in this report graphically illustrated the decline in the number of houses for sale in the last two years.
In this report I will look at the Q3 numbers, the YTD numbers and also give a preview of where I think the year will end up.
Q3 median price
Source:MLS, Oliver Reports
New Listings week ending October 15
Another generally quiet week for new listings:
Source: andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Not sure which broker to use to sell your home? Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Farewell Big Papi: a Marblehead real estate tribute
A four pitch walk. This was not how it was supposed to end, but the Cleveland Indians had no intention of allowing a final heroic home run blast from Big Papi.
David Ortiz will be honored for ever in Boston for the person he was as much as for his extraordinary achievements with a baseball bat. For Oliver Reports he will also be remembered for being a metaphor for the Marblehead real estate market.
My 2009 mid-year review published in the Marblehead Reporter described the phenomenon that the local real estate market was like David Ortiz’s season: starting so poorly that even with great numbers later in the season the year’s median price would still be quite low.
In Big Papi strikes Marblehead housing market again, one of my first blog posts for Oliver Reports, I wrote: “Well 2012 was much like 2009, at least for the local real estate market (Big Papi himself, courtesy of a new diet and/or because he was entering a contract year, hit 318).”
That new trend, avoiding a slow start to the year, continued in 2016. Big Papi, after a winter without picking up a bat, hit hard and often right out of the gate, just like the Marblehead real estate market which started 2016 with a $660,000 median price in the first quarter.
But enough of the metaphors. Farwell Big Papi – and thank you.
If you are considering selling your home please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer.
Not sure which broker to use to sell your home? Read Which broker should I choose to sell my house?
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
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