More activity at the top end in Marblehead
Since the beginning of the year a question has been asked about the impact the various tax changes would have on the real estate market. In particular, would the limitation on the amount of property and State income taxes that can be written off against Federal income tax reduce demand at the higher level? Or would these increases be offset by lower personal taxes and by more optimism for the economy?
What we have seen is a continuation of the huge and unmet demand at the lower to mid-levels – stories of 100 parties attending Open Houses last weekend.
And this week, a house in Marblehead was listed at $3.7 million and received an accepted offer within 2 days, while another house, listed at $4.9 million, also received an offer.
And these pending transactions follow the recent news of an $8 million property in Swampscott going under agreement.
In all there are 15 properties listed over $2 million in Essex County with pending sales, in addition to 4 closed sales in the first quarter.
It would seem, therefore, that there is strong buying interest at all price points.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we 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.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated