Salem Mid-Year 2024 Market Review

The median price of the SFHs sold in Salem in the first half of 2024 reached new highs – again – while the number of sales dropped, especially in Q2.
The median price of the Condos sold also rose, while sales were steady with the 2023 level.
Overall, 55% of Q1 sales and 70% of Q2 sales were over List Price

The median Price per Sq.Ft. can fluctuate Quarter to Quarter, but was consistent with the PSF in the second half of 2023 for SFHs and higher for Condos.
Sales continued at a brisk pace, reflecting both the shortage of supply and the continuing demand. (more…)

Swampscott Mid-Year 2024 Market Review

The median price of the SFHs sold in Swampscott in the first half of 2024 dropped from 2023, while sales were similar to last year’s level.
The small number of Condo sales took place between $450,000 and $3.3 million.
In Q2, 57% of all sales took place over List Price.

The median Price per Sq.Ft. can fluctuate Quarter to Quarter, but was similar overall in H1 2024 compared with 2023.
The pace of sales slowed a little in Q1 before speeding up again in Q2. (more…)

Essex County Mid-Year 2024 Market Review

The median price of the SFHs sold in the 34 cities and towns in Essex County in H1 2024 continued to increase, reaching a new quarterly high. After declining from the 2021 peak level, sales were in line with the prior year.
The median price of the Condos sold was in line with the prior 12 months. Sales, while also well below their 2021 levels, had their best quarter since Q3 2022.
The record of sales taking place above List Price continued in 2024, with 50% of Q1 sales and 66% of Q2 sales, for SFs and Condos combined, above List Price.

The median Price per Sq.Ft. increased, especially in Q2. Sales continued at a brisk pace, reflecting both the shortage of supply and the continuing demand.
(DTO- Days To Offer – the number of before an accepted offer is received.) (more…)

Open Houses weekend July 20/21

Here are this weekend’s (very few) Open Houses (an updated list for Sunday will be posted tomorrow at 8 a.m.*):

Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

*because of the timing of the MLS feed, many of Sunday’s OHs do not show up in today’s links until later today, and will also be in tomorrow’s post

And these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

Marblehead Mid-Year 2024 Market Review
Swampscott Mid-Year 2024 Market Review
Salem Mid-Year 2024 Market Review
Essex County Mid-Year 2024 Market Review
Essex County Mid-Year 2024 Market Review: Town by Town Guide

How was MY assessment calculated? Q&A with Marblehead Assessor Karen Bertolino
My Marblehead Current article on Property Taxes
Marblehead FY 2024 Property Tax Explained

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 me on 617.834.8205 or ajoliver47@gmail.com.

Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

““If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”

“Thank you for the wonderful, wonderful job you do for the community (explanation of property tax process and calculation) – it is so helpful and so clearly explained.”

New Listings, Inventory, week ending July 19

Here are the latest New Listings and inventory numbers, together with mid-year market reports:

Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings

Here are the latest inventory numbers:

And read these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

My Property Tax reports mentioned at Town Meeting
Marblehead Mid-Year 2024 Market Review
Swampscott Mid-Year 2024 Market Review
Salem Mid-Year 2024 Market Review
Essex County Mid-Year 2024 Market Review

Essex County Mid-Year 2024 Market Review: Town by Town Guide

(more…)

New Listings, Inventory, mid-week July 17

Here are the latest New Listings and inventory numbers:

Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings

Here are the latest inventory numbers:

And read these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

My Property Tax reports mentioned at Town Meeting
Marblehead Mid-Year 2024 Market Review
Swampscott Q1 2024 Market Summary
Salem Q1 2024 Market Summary
Essex County Q1 2024 Market Summary
Why Mortgage Rates will fall in 2024

(more…)

Marblehead 1st Half Sales: 50% Over List Price

Half Sales over List Price in the first half of 2024
In the first half of the year, 4 in 100 sales were below List Price; 1 in 10 at List Price; and 5 in 10 over List Price.
11 of the 95 sales were 20% or more over List Price, including 2 at 40% over and 1 at 50% over.

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 me on 617.834.8205 or ajoliver47@gmail.com.

Andrew Oliver, M.B.E.,M.B.A.

REALTOR®

m 617.834.8205

www.OliverReportsMA.com

““If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”

“Thank you for the wonderful, wonderful job you do for the community (explanation of property tax process and calculation) – it is so helpful and so clearly explained.”

Licensed in Massachusetts with Stuart St.James
Licensed in Florida with Compass

www.OliverReportsFL.com

Marblehead Mid-Year 2024 Market Review

The median price of the SFHs sold in Marblehead in the first half of 2024 rose to record highs – again-  while sales were similar to the 2023 level.

The 23 Condos sold in a wide range – from $177,300 to $1.25 million — with 10 of the 23 sales under $500,000, and 9 over $700,000.

44% of all sales were Over List Price in Q1 and 54% in Q2

The Median Price per Sq.Ft. continued its ascent, while there was no slow down in the pace of sales, as evidenced by DTO- Days To Offer – the number of days a property is on the market before an accepted offer is received. (more…)

Open Houses Sunday July 14

Here are today’s Open Houses:

Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

And these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

Marblehead Q1 2024 Market Summary
Swampscott Q1 2024 Market Summary
Salem Q1 2024 Market Summary
Essex County Q1 2024 Market Summary

How was MY assessment calculated? Q&A with Marblehead Assessor Karen Bertolino
My Marblehead Current article on Property Taxes
Marblehead FY 2024 Property Tax Explained

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 me on 617.834.8205 or ajoliver47@gmail.com.

Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

““If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”

“Thank you for the wonderful, wonderful job you do for the community (explanation of property tax process and calculation) – it is so helpful and so clearly explained.”

Open Houses weekend July 13/14

Here are this weekend’s (very few) Open Houses (an updated list for Sunday will be posted tomorrow at 8 a.m.*):

Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

*because of the timing of the MLS feed, many of Sunday’s OHs do not show up in today’s links until later today, and will also be in tomorrow’s post

And these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

Marblehead Q1 2024 Market Summary
Swampscott Q1 2024 Market Summary
Salem Q1 2024 Market Summary
Essex County Q1 2024 Market Summary

How was MY assessment calculated? Q&A with Marblehead Assessor Karen Bertolino
My Marblehead Current article on Property Taxes
Marblehead FY 2024 Property Tax Explained

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 me on 617.834.8205 or ajoliver47@gmail.com.

Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

““If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”

“Thank you for the wonderful, wonderful job you do for the community (explanation of property tax process and calculation) – it is so helpful and so clearly explained.”

New Listings, Inventory week ending July 12

Here are the New Listings and inventory numbers:

Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings

Here are the latest inventory numbers:

And read these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

My Property Tax reports mentioned at Town Meeting
Marblehead Q1 2024 Market Summary
Swampscott Q1 2024 Market Summary
Salem Q1 2024 Market Summary
Essex County Q1 2024 Market Summary
Why Mortgage Rates will fall in 2024

(more…)

The Federal Reserve’s Analysis Paralysis

In November 2023, I wrote: “The question now is whether the Federal Reserve, having been extremely slow to start raising rates and reversing Quantitative Easing, will be similarly late in easing (rates). The Fed claims to be data dependent, but data tells us what happened in the past – and the Fed’s actions impact the future.”
The answer to that question is “yes” – and here we are, 8 months later, and the Fed is still “data dependent”, although this year’s mantra has become “higher for longer.”

2022
While nearly everybody outside the Fed now accepts that it kept interest rates “too low for too long”, I published the following articles: (more…)

July Housing Inventory and H1 Sales to List Price

The inventory of Single Family Homes (SFH) has increased sharply since April , taking the level to its highest in 4 years:

On the other hand, while Condo Inventory has also increased significantly since April, the July level is little more than half the July 2020 number. (more…)

New Listings, Inventory after July 4

Here are the New Listings and inventory after July 4:

Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings

Here are the latest inventory numbers:

And read these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price

My Property Tax reports mentioned at Town Meeting
Marblehead Q1 2024 Market Summary
Swampscott Q1 2024 Market Summary
Salem Q1 2024 Market Summary
Essex County Q1 2024 Market Summary
Why Mortgage Rates will fall in 2024

(more…)

Open Houses Sunday, July 7

Here are today’s (very few) Open Houses:


Click on these links for details:

Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House

And these recent articles:
Housing Inventory at highest level since 2020
Marblehead House sell for $1.2 million OVER List Price

Marblehead Q1 2024 Market Summary
Swampscott Q1 2024 Market Summary
Salem Q1 2024 Market Summary
Essex County Q1 2024 Market Summary

How was MY assessment calculated? Q&A with Marblehead Assessor Karen Bertolino
My Marblehead Current article on Property Taxes
Marblehead FY 2024 Property Tax Explained

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 me on 617.834.8205 or ajoliver47@gmail.com.

Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

““If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”

“Thank you for the wonderful, wonderful job you do for the community (explanation of property tax process and calculation) – it is so helpful and so clearly explained.”