11 Crown Way, Marblehead. Sunday 12:00-1:30
Two houses on one lot make this ideal for extended family, nursing home alternative or just for a weekend and summer retreat without having to battle the traffic.
This spectacular oceanfront compound offers an elegantly restored, south-facing, sun-drenched 6,265 sq. ft. main home with 15 spacious rooms including 7 bedrooms and 4 1/2 baths.
Plus Marblehead’s most stunningly located carriage house with an additional 2,404 sq. ft. of living space.
Property is uniquely protected from coastal storms.
Access to a private beach. Wonderful neighborhood; private mooring available. $4.5 million.
Figures from the Commerce Department this week show that the median price of a new home in the US in April rose 15% Year on Year to reach a new all-time record of $271,600.
During the recent recession, new home sales collapsed from an annual rate of 1.4 million in July 2005 all the way to just 273,000 in February 2011.
As homebuilders are once again starting to crank up production, that rate has recovered to 454,000 in April, at which time there was 4.1 months of supply.
New home sales represent 7% of the US housing market, so are less significant than existing home sales, but are important because only by building new homes can we meet the demand from new household creation.
The good news is that new home construction (both single and multi family) was running at an annual rate of 850,000 in April, while new permits topped 1 million.
No, not an agony column, and no I don’t have the answer. But when women say “we need to talk” about housing choices, a quick read of this article on HSH’s website may give a man some hints.
Home buying bridges the gender gap
Maybe it was the subject matter – the upper end of the market – but whatever the reason my blog had a record number of visits this weekend.
If you stumbled on my site by chance, please either “friend” Oliver Reports on Facebook or sign up at www.OliverReports.com for email alerts of new postings.
I publish one or more articles every Saturday on a variety of real estate related topics. My goal is to make the articles short and topical.
As my home page says, Oliver Reports is: “The source for Marblehead and North Shore real estate news.”
And I also publish comments on the Boston market from time to time because of the influence that market has on the entire region.
Come see this wonderful Colonial on Sunday 12:00 – 2:00 pm.
36 Crestwood Road (West Shore Drive to Shorewood Road to Pinecliff Drive to Crestwood).
Waterfront, updated, 4 bedroom 3,820 s.f. Colonial on nearly an acre in park-like setting with private dock. Home overlooks Wyman’s Cove and has views to the Beverly shore. Master suite has views up the harbor and beyond. Hardwood floors, central air, finished walkout lower level, & two car garage. Radiant heat in bathroom floors.
www.36CrestwoodRoad.com with interactive floor plans.
11 Crown Way. Sunday 2:00-3:30
Two properties on one lot make this ideal for extended family, nursing home alternative or just for a weekend and summer retreat without having to battle the traffic.
This spectacular oceanfront compound offers an elegantly restored, south facing, sun-drenched 6,265 sq. ft. main home with 15 spacious rooms including 7 bedrooms and 4 1/2 baths. Uniquely protected from coastal storms. Plus Marblehead’s most stunningly located carriage house offers an additional 2,404 sq. ft. Access to a private beach. Wonderful neighborhood and potential for a private mooring.
One of the surprises to me this year has been the relatively low level of activity in Marblehead waterfront property. I know there is quite a lot of supply, but with the top end hitting new highs in Boston and other cities it does seem that there is an opportunity to buy wonderful property at a great price. As my attorney said to me when I closed on my house many years ago: “they can’t make any more waterfront”.
Recently a beautifully elegant waterfront property came on the market for $1 million below its Assessed Value. The house does need some updating – and I know from personal experience how much it can cost to restore an old house – but if you are in the market for a traditional, New England waterfront property, this is well worth a look.
I’d love to tell you more about this house but apparently it would be a breach of ethics for me to do so as I might be deemed to be recommending a property listed by another Realtor. Go figure.
While there may appear at first glance to be a lot of waterfront homes for sale at the moment, the detailed analysis that a buyer at this level would undertake quickly shows that there are several different categories, by location, condition and style for example, that whittle the number down rapidly when a buyer’s criteria are considered.
And as I point out in another post this morning, the buyers at the upper end are active elsewhere. Surely the delights of summer on the water in Marblehead will attract buyers soon!
In April the number of Single Family Homes (SFHs) sold in Marblehead was 23 against 17 last year, bring the Year To Date number to 54 compared with 44 last year,
As of May 1 there were 58 SFHs with an accepted offer. Were all these to close by June 30 – which they won’t, but others not yet with an accepted offer will – total sales for the first half of the year would be around 110.
Last year’s sales reached 229, the highest total since the extraordinary 285 of 2004. We are unlikely to challenge the 2004 level but we do seem to be moving back into the 220-240 range of the early 2000s.
Condo sales so far are 6 against 7. A further 8 had accepted offers as of May 1. At this stage it seems quite likely that sales will not match last year’s 42.
For the 17 North Shore cities and towns I track, sales of SFHs increased 6% for the first four months of the year while condo sales were up 12%.