Open Houses weekend February 29/March 1
Here are this weekend’s Open Houses. As always, an updated list will be published at 8 a.m. on Sunday. (more…)
Coronavirus and the Housing Market: Part 2
Three weeks ago I published Coronavirus and the housing market concluding with this comment: While it is too early to forecast the impact of the coronavirus, world stock markets this week suggest that investors believe it will be limited beyond the short term. And meanwhile, ultra low mortgage rates only exacerbate the impact of the extreme low level of supply in the housing market.
Well that changed this week!
It is worth remembering that for some time commentators have been observing that the stock market was at extended valuations but that nobody wanted to sell, so maybe coronavirus was the excuse for the “overdue” stock market correction to occur.
Which is not to underestimate the significance of the crisis as it seems likely to impact everything from air travel and tourism to concert attendance; from manufacturing supply lines to decisions about future supply markets. At this stage, we simply do not know.
The most important factor for both the economy and the housing market is consumer confidence. The University of Michigan survey of Consumer Sentiment for February edged up 1.2 points to 101.0, the highest level since March 2018. The accompanying commentary said:”The coronavirus was mentioned by 8% of all consumers in February when describing the reasons for their economic expectations. However, on Monday and Tuesday of this week—the last days of the February survey—20% mentioned the coronavirus due to the steep drop in equity prices as well as the CDC warnings about the potential threat of the virus.”
What we do know is that mortgage rates have dropped even further. The Freddie Mac weekly survey published on Thursday showed the national average 30-year Fired Rate Mortgage at 3.45% and that rate seems likely to drop further next week.
The US economy continues to show steady, if unspectacular grow. Provided coronavirus just delays economic activity, that will continue to be the story. A longer slowdown may well lead the world into a recession but it really is too early to tell.
Meanwhile the story of recent years continues to apply: Record low inventory + record low mortgage rates + strong demand = rising home prices.
Will house prices continue to rise in 2020?
Are You Thinking of Selling in 2020?
Swampscott: now is a GREAT time to sell
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending February 28
These are the New Listings over the last week: (more…)
New Listings mid-week February 26
These are the most recent new listings: (more…)
Swampscott: where have all the sellers gone?
Recently, I published Swampscott homeowners: now is a GREAT time to sell.
Since then, all 3 of the houses listed at the time for under $1 million have had offers accepted, while this week two more were listed :
11 Bay View Drive at $665,000, and 85 Walker Road at $459,900.
There are currently just 11 houses for sale in Swampscott and 5 of those are new construction in a 55+ community; 3 others are $2.9 million or more, and the last one is 20 One Salem Street at $1.2 million.
So…. if you have been thinking of selling it is hard to imagine a better opportunity: 3,462 SFHs in Swampscott and only 6 of them (the other 5 are new construction) for sale. The demand is there, but where is the supply?
If you would like to know what your home might sell for in this market please contact me to arrange for Team Harborside to visit you and give you a current market opinion.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses Sunday February 23
50 degrees and sunny? Wow – a great day to visit these Open Houses: (more…)
What is Marblehead’s most expensive listing ever?
Patch this week featured 102 Harbor Avenue as the most expensive listing currently in Marblehead – which it is.
But is it the most expensive listing ever?
First, a couple of photos of 102 Harbor
Now, let’s roll back the clock to 2009 when this house on the Neck was listed for $10.5 million:
While this house was listed at $10.5 million in 2009, by 2015 the asking price had dropped to $6.6 million – and it did not sell.
But wait, there was one even higher listing. Back in 2003 another house on the Neck was listed for a jaw-dropping $23 million!!! But that listing was cancelled the very next day – and then re-entered at …… $2.3 million.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend February 22/23
A fine weekend to visit these Open Houses:
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem New Listings
Beverly New Listings
Lynn Open Houses
and click Search Open Houses to check in other towns.
Will house prices continue to rise in 2020?
Are You Thinking of Selling in 2020?
Swampscott homeowners: now is a GREAT time to sell
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending February 21
A quiet week – again – for New Listings.
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
and click Search New Listings to check in other towns.
Will house prices continue to rise in 2020?
Are You Thinking of Selling in 2020?
Swampscott homeowners: now is a GREAT time to sell
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings in School Vacation week
Not surprisingly, there are few New Listings this week:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Million Dollar Sales increase 7% to new record in 2019
Sales of Single Family Homes (SFH) at $1 million or more in the 34 cities and towns of Essex County increased 7% in 2019 to a record level of 353.
Marblehead regained the top position from Andover, but the biggest move came in Newburyport, where there were 46 sales, double the number in 2019 and three times the 2015 level.
Click Million Dollar Sales by Town to download a copy of the table including aggregate numbers not in the table above.
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses February 16
Cloudy but mild today for these Open Houses:
Click on these links for details:
Marblehead Open Houses
Swampscott Open House
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
and click Other towns to check for any town in Massachusetts.
Will house prices continue to rise in 2020?
Are You Thinking of Selling in 2020?
Swampscott homeowners: now is a GREAT time to sell
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Pre-Revolutionary Marblehead: Open House TODAY
There is an Open House today, 11:30-1:00, for this Pre-Revolutionary Marblehead house. It is a perfect blend of old and new – and even has a double garage.
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
www.TeamHarborside.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Open Houses weekend February 15/16
Cold but sunny with little wind today and warmer tomorrow for these Open Houses (check back tomorrow at 8 a.m. for an updated list for Sunday):
Click on these links for details:
Marblehead Open Houses
Swampscott Open House
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
and click Other towns to check for any town in Massachusetts.
Will house prices continue to rise in 2020?
Are You Thinking of Selling in 2020?
Swampscott homeowners: now is a GREAT time to sell
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
New Listings week ending Valentine’s Day
A quiet week ahead of President’s Day an school vacation week.
Click on these links for details:
Marblehead New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
and click Other towns to check for any town in Massachusetts.
Will house prices continue to rise in 2020?
Are you thinking of selling in 2020?
Swampscott homeowners: now is a GREAT time to sell
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.com
Andrew.Oliver@SothebysRealty.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Recent Comments