When was Marblehead’s 200th SFH sale?

The very first post I wrote on this blog, 3 years and 539 posts ago, pointed out that sales of Single Family Homes in Marblehead in 2012 had reached 200 for the first time since 2007. One of the ways I tracked the pace of sales was to list the date on which the 200th sale occurred.

I have updated this table for the last few years:

Source: MLS, Oliver Reports

The 200th sale has occurred 3 times on November 9th and once on November 8th. This gives an indication that total sales for 2015 are likely to be in the 227-234 range.

As of today there are 13 houses under agreement with an anticipated closing date in 2015, and a further 23 Contingent (a sale has been accepted but there are still contingencies – inspection, financing – that need to be satisfied). 11 of the Contingent sales date to October or earlier and are therefore likely to close in 2015.

An educated guess would be that sales for 2015 will be around 230.

Sales are, therefore, likely to be down a little from 2014, but still at a healthy level. The reason for the decline is simply the shortage of inventory during the year.

It is too early to forecast the median price for the year. Year to date it is $614,000, but there is a $15,000 gap to the next lower sale price below the current median. If more sales between now and year end take place above $614,000 the median price will be a little higher, but if more sales are under $614,000, the median will drop but will still quite likely give us a new record high, topping the $590,000 recorded last year.

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.

Read How should I choose the broker to sell my home?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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