Long Island estate: $16 million? $100 million? Whatever.
Two years ago this Long Island estate was bought for just under $16 million. It is now back on the market for…..$100 million.
So what did the buyers do to the house to justify this huge increase? Maybe they watched HGTV and added granite counters and stainless steel appliances? (more…)
Open Houses today
A beautiful day to visit Open Houses. (more…)
New: audio option for post
My Home sales: from feast to famine? post to day includes an audio recording at the top of the article. Let me know if you like this feature. (more…)
Home sales: from feast to famine?
The old saying is that there are three things that matter in real estate: location, location and location.
In the same vein there are three things that matter in real estate statistics: never rely upon one month’s numbers, never rely upon one month’s numbers….well you can guess the third one. (more…)
Salem welcomes Cruise Ship
When I first heard Salem Mayor Kim Driscoll talk of cruise ships coming in to the old Salem power plant wharf I was surprised and frankly sceptical. But this week Salem welcomed its second cruise ship, the Fred Olsen line’s Balmoral, a 750 ft vessel carrying 1,300 passengers.
The week’s new listings
This week saw a similar number of new listings to last week: (more…)
How long have Marblehead houses been on the market?
A lot has been written about the shortage of houses for sale this year – the low inventory – so I decided to look at the current market in Marblehead and see how long houses have been on the market in the different price categories.
What I have noticed in the last few years is that sometimes, for no apparent reason, a house sits on the market for some time unsold. And therein can lie opportunity, so if you are looking to buy check out the full current list of Marblehead SFH for sale. (more…)
Open House list
Here is today’s Open House list summary: (more…)
The week’s new listings
Fewer new listings for SFHs this week but more condos. There have now been 30 new condos listed in Salem since Labor Day. (more…)
Mortgage rates: déjà vu all over again
Well the Federal Reserve did not increase short-term interest rates this week and there was little movement in mortgage rates, which remain under 4% for the 30 year fixed rate (FRM) and close to historic lows:
The underlying assumption behind the Fed’s forecasts and those by groups such as the Mortgage Bankers Association (MBA) is that there will, inevitably, be an increase in inflation at some point and that interest rates will start to rise as that becomes more certain.
How accurate have past forecasts been? (more…)
Open House bonanza
There is a saying that a week is a long time in politics. Well so too in real estate. Last week this list showed 36 Open Houses; today there are 123. (more…)
New Listings after Labor Day
As expected new listings have increased after Labor Day. And tomorrow will be an Open House bonanza. Check back here tomorrow at 8 a.m. for the full OH listings. (more…)
Marblehead Houses for sale by price
The supply of Single Family Homes (SFHs) has been low, but increasing, all year in Marblehead.
Here is the table showing the supply month by month, by price, this year:
Source: MLS, Oliver Reports
See Supply of houses for sale for a town by town breakdown of overall inventory compared with a year ago. (more…)
Where are houses selling in Marblehead?
One question I get asked quite often is: “where are houses selling in Marblehead?”
The maps below show sales for the last three months in different price brackets. The maps may be a little small, but I hope you can see the way that houses get more expensive as they get closer to the water. (more…)
Supply of houses for sale after Labor Day
As we enter the second phase of the 2015 home-buying season, I have looked at the supply of houses for sale after Labor Day and compared it with this time last year for every city and town in Essex County.
Overall, the supply has dropped from 4.4 months* to 3.9 for Essex County overall (and from 5.4 months to 4.7 for the whole of Massachussetts). The number of towns with supply of less than 3 months has increased from 6 to 10, while the number with more than 10 months of supply has dropped from 4 to 1. (more…)
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