The median price of Single Family Home (SFH) in Danvers in 2016 rose 5% to a new record high pf $429,900, surpassing the prior 2006 peak of $413,500. The median price of a condo declined 5% and remains below the 2014 peak. Sales of SFHs were down slightly from the 2015 peak, while condo sales were well below the 2014 peak. (more…)
While the median price of a Single Family Home (SFH) in Boxford in 2016 increased 7%, it remains below the levels of 2004 and 2005. Sales, however, jumped to a new high. There is no condo market in Boxford. (more…)
The median price of a Single Family Home (SFH) in Amesbury in 2016 was virtually unchanged from 2015 and still 10% below the 2005 peak. The median condo price increased 10% but is still 5% below the 2005 peak. Sales of SFHs increased while condo sales were flat and well below the 2004 level. (more…)
The median price of a Single Family Home (SFH) in Andover in 2016 declined slightly from the 2015 peak, although the second half of the year set a record. The median condo price showed a somewhat larger decline. Sales were more or less flat compared with 2015. (more…)
The median price of a Single Famil Home (SFH) in Lynn in 2016 rose 10% to a new record, finally topping the prior 2005 peak. The median price of a condo rose 9%, but was still 2% below the 2006 peak. Sales of both SFHs and Condos increased strongly, but while SFH sales are close to their 2005 level condo sales are still only about half the 2005 peak. (more…)
The median prices for both Single Family Homes (SFH) and Condos set new records in 2016, each rising 5%. SFH sales also set a new high, while condo sales remained well below the peak level of 2005: (more…)
The median price of a Single Family Home (SFH) in Massachusetts in 2016 rose 3% to a new high, finally passing the prior 2005 peak. The median price of a condo rose 3.5% to a new high. Sales of SFHS were a record while condo sales remain 13% below 2005 levels. The impact of Boston on MA condo prices is explored in How much does Boston impact Massachusetts condo prices?. (more…)
The economy is showing good growth (read mortgage rates set to rise again ) the weather is mild and inventory is low, a recipe for rising home prices, so hurry to these Open Houses – from $170,000 to $3 million – which will leave you plenty of time to submit an offer and be in front of the TV at 6:40 pm. (more…)
The Freddie Mac weekly 30 year Fixed Rate Mortgage (FRM) report showed a further drop to 4.09% this week, but this number does not reflect the increase in interest rates late in the week (the Freddie Mac survey is based on mortgage rates from Monday to Wednesday each week and is published on Thursdays).
How has the mortgage rate moved recently?
The FRM moves most closely with the yield on the 10 year Treasury note (10T). Over the last 4 years the average spread – the difference between the FRM rate and the 10T yield – has averaged around 1.7%. Let’s see how the two rates have moved since the Election: (more…)