Marblehead Price Typo
My thick fingers typed $589,500 instead of $689,500 in yesterday’s Housing Headlines for Marblehead and Swampscott post.
The correct number was in the table and I have corrected the narrative in the original article.
Andrew Oliver
Realtor, Sagan Harborside Sotheby’s International Realty,
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Tel: 617.834.8205
Housing Headlines for Marblehead and Swampscott
Marblehead
The median price of the Single Family Homes (SFH) sold in Marblehead in 2018 increased 3.7% to a new record of $689,500. Sales dropped to the lowest level since 2011.
Swampscott
After finally breaking the 2005 peak of $517,300 in 2017, the median price jumped 10.8% in 2018. Sales recovered to the 2016 level, but were below the levels of 2013-2015.
Detailed reports on both markets (and several others) will be published in the near future.
Andrew Oliver
Realtor, Sagan Harborside Sotheby’s International Realty
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Tel: 617.834.8205
Open Houses weekend January 12/13
Note that, because the Patriots are playing at 1:05 on Sunday, there are more Open Houses today than tomorrow, and many of tomorrow’s are early, so check the timing.
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside Sotheby’s International Realty
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Tel: 617.834.8205
Open Houses Sunday January 6
Here are today’s Open Houses:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside Sotheby’s International Realty
www.OliverReports.com
617.834.8205
Housing Supply is limited in Marblehead and Swampscott
In my Inventory starts 2019 continuing rising trend article yesterday I commented: While inventory has been increasing steadily for some months, in absolute terms it is still low.
Inventory in New England is always low in the first few months of the year, and activity in the first quarter of the year is very weather dependent, but in this article I show the current inventory (in terms of months of supply*) for Marblehead and Swampscott, as well as for Essex County overall.
Marblehead
Only 3 houses currently for sale under $600,000 and only 18 under $1 million.
Swampscott
Just 10 houses for sale under $1 million.
Essex County
Very limited supply under $1 million.
* a market is generally regarded as being in equilibrium between buyers and sellers when supply is 6 months
Comment
The economy is still strong, if slowing somewhat, and mortgage rates have dropped back to 4.5%.
It is early January and it is New England and winter, but there do seem to be opportunities for sellers in many price ranges.
Andrew Oliver
Realtor, Sagan Harborside Sotheby’s International Realty
www.OliverReports.com
617.834.8205
Open Houses weekend January 5/6
The holidays are over, the family has gone home, the stock market has gyrated like it was New Year’s Eve on steroids, mortgage rates looked at 5%, blinked and came back to 4.5% against all predictions, the economy is still doing well and we all want a calm and stress-free 2019.
Meanwhile, here are the weekend’s Open Houses:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Andrew Oliver
Realtor, Sagan Harborside Sotheby’s International Realty
www.OliverReports.com
617.834.8205
Inventory starts 2019 continuing rising trend
Inventory in New England is always low in the first few months of the year, but it is significant that it has increased Year-on-Year (YOY) for the last 7 months for Single Family Homes (SFH) and for the last 8 months for Condos.
SFH
Condos
Comment
While inventory has been increasing steadily for some months, in absolute terms it is still low. In tomorrow’s blog post I shall break down the supply by price in local markets.
Andrew Oliver
Realtor, Sagan Harborside Sotheby’s International Realty
www.OliverReports.com
617.834.8205
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