Essex County 2021 Median Prices: Town by Town Guide
The median Single Family Home price in Essex County increased 13% in 2021 to $609,000, while the median Condo price increased 11% to $388,000. The increases for Massachusetts overall were very similar but note that the median Condo price in Boston increased by only 5%.
And read these recent articles:
Is today the day you decide to move to Florida?
Can the Federal Reserve prevent a Recession?
How Marblehead’s 2022 Property Tax Rate is calculated
Essex County 2022 Property Tax Rates: Town by Town guide
January Inventory – how low can you go?
Essex County 2022 Commercial Property Tax Rates: Town by Town guide
Guide to Buying and Selling in Southwest Florida
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 Andrew.Oliver@SothebysRealty.com.
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReportsMA.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
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReports.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.”
__________________
Andrew Oliver
REALTOR® | Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
Open Houses today
There are just 5 Open Houses scheduled today: 2 each in Salem and Marblehead and 1 in Lynn: today’s Open Houses:
Click on these links for details: (more…)
Is today the day you decide to move to Florida?
Epic storms are the subject of conversations for years to come. How many times today will you hear comparisons with and stories of the blizzard of ’78? I wasn’t in Boston for that one but I did “enjoy” the April Fool’s Day blizzard of ’97.
Funnily enough, a number of people decide after decades of living through New England winters that it is time to move to Florida.
If you find yourself in that camp, I can help.
Here is my guide to buying in Southwest Florida: Guide to Buying and Selling in Southwest Florida
And some year end reports:
Naples Year End Market Report by Location and Property Type
Bonita Springs 2021 Year End Market Report
Sanibel/ Captiva 2021 Market Report
And plenty more on my Southwest Florida blog OliverReportsFL.com, a sister blog to OliverReportsMA.com.
Come on down!
Andrew Oliver, M.B.E., M.B.A.
REALTOR®| Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.MarbleheadSouth.com
www.OliverReportsFL.com
_____________
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
www.OliverReportsMA.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 today? YMBJ
No Open Houses today.
I will post a list tomorrow as we see what is on after – we hope – the storm.
Perhaps today you will choose to read: Is today the day you decide to move to Florida?
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReportsMA.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
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReports.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.”
__________________
Andrew Oliver
REALTOR® | Market Analyst | DomainRealty.com
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
New Listings to check during the blizzard
Just a snowball’s worth of New Listings ahead of the storm.
Click these links for details: (more…)
New Listings mid-week
5 New Listings in Marblehead more than double inventory!
Click these links for details: (more…)
Can the Federal Reserve prevent a Recession?
The housing market is driven by the balance between supply and demand. Supply cannot be increased significantly quickly, so the only way for the booming housing market to slow is if demand drops. And the most likely causes for a drop in demand are either a major geopolitical development – such as Russia invading Ukraine and the US and its NATO partners deciding to respond militarily – or a recession.
Since World War II there has been a consistent pattern of the Federal Reserve hiking interest rates to control inflation and thereby triggering a recession. With the Fed finally acknowledging in late November that inflation was not transitory and committing to end its bond buying spree and also raise interest rates, will it be able to avoid a recession? Can this time be different?
The Boston Globe recently carried an excellent article on this subject by Jim Puzzanghera: ‘A hellishly difficult task.’ Can the Federal Reserve lower inflation without causing a recession?
“The virus is unpredictable. People’s responses to the virus are unpredictable. It’s not a garden variety business cycle by any means,” said Donald Kohn, a senior fellow at the Brookings Institution think tank who served as Fed vice chair from 2006-10. “It’s much harder to peer into the future and know how to calibrate your monetary policy.”
Bernard Baumohl, chief global economist at the Economic Outlook Group, a forecasting firm, was more blunt. “The Fed has a hellishly difficult task right now,” he said. “There is absolutely no history for the Fed to lean on to deal with this kind of inflation.”
Most economists predicted last spring that high inflation would be temporary, pointing to the supply chain problems caused by restarting the US and world economies. But some economists warned the $1.9 trillion COVID aid bill enacted last March risked fueling longer-lasting inflation by pumping too much money into the already recovering US economy.
By last June even I was writing: “Should inflation prove to be more persistent than the Fed expects, then it is likely that the Fed will have to start to increase interest rates sooner and move them up more quickly than it currently expects. And mortgage rates would follow.
The Fed’s two goals of price stability and maximum sustainable employment are known collectively as the “dual mandate.” In explaining its policy of keeping interest rates low – in part by buying large quantities of Treasuries and Mortgage-Backed Securities, the latter helping to keep mortgage rates low – the Fed refers to the still high level of unemployment.
I have to admit that I struggle to understand how low interest rates, which boost asset classes such as stock prices and real estate, are helping to boost employment. Lower interest rates benefit those who own assets which appreciate.
I would like to see the Fed start to reduce (taper) its bond buying, while encouraging Congress to focus on removing barriers to employment – by providing increased child care allowances, for example. In other words, deal directly with the problem rather than hoping that benefits will trickle down somehow.”
Some quotes (more…)
Open Houses Sunday January 23
Here are today’s Open Houses:
Click on these links for details: (more…)
New Listings and Inventory Update
Still only a handful of New Listings (the state of inventory is shown later in this article, as is a link to my annual guide to property tax rates).
Click these links for details: (more…)
Open Houses weekend January 22/23
Freezing temperatures, Omicron (now waning, fortunately) and tiny inventory are the backdrop to this weekend’s Open Houses.
Click on these links for details: (more…)
New Listings and Inventory Update
Still only a handful of New Listings (the state of inventory is shown later in this article, as is a link to my annual guide to property tax rates).
Click these links for details: (more…)
Lynn’s Housing Production Plan approved by State
The city’s new housing-production plan, Housing Lynn: A Plan for Inclusive Growth, has been approved by the Massachusetts Department of Community Development (DHCD).
The five-year plan was submitted to DHCD after it was approved by the City Council on Sept. 7 and the Planning Board on Oct. 12, after months of work and input with community members.
The approval allows the city to meet its affordable-housing needs, while also allowing for preferences in many state-housing grants and infrastructure programs.
The city has never had a comprehensive housing plan and now joins 168 other Massachusetts communities with approved housing-production plans that are making an effort to solve the state’s affordable-housing crisis.
Mayor Jared Nicholson said this approval by DHCD is another step in the right direction: “It continues the momentum that we have witnessed over the past few years during the development of the plan to address one of the top issues our residents face,” said Nicholson. “The preparation of the Housing Lynn plan relied heavily on feedback from Lynn residents and a detailed review of market conditions, and as we look towards the implementation of the recommendations, we expect that to continue. We know how important these recommended actions will be to supporting growth that benefits the whole city and the impact they can have for cost-burdened residents.” (more…)
Open Houses Sunday January 16
The temperature may “sky-rocket” from this morning’s 5 degrees but the number of Open Houses will remain low:
Click on these links for details: (more…)
How Marblehead’s 2022 Property Tax Rate is calculated
The formula for calculating the property tax is actually very simple: take the $ amount of the previous year’s Tax Levy, add 2.5% for Proposition 2 1/2, and also add any New Growth (such as new construction or a condo conversion). This figure is the new tax levy. To this figure is added debt service – the Principal and Interest payable on the town’s debt. – to produce the total Tax Levy.
Here are the numbers for Fiscal Years 2021 and 2022, remembering that FY 2022 runs from July 2021 to June 2022. (more…)
Open Houses weekend January 15/16
Freezing temperatures, Omicron and tiny inventory are the backdrop to this weekend’s Open Houses.
Click on these links for details: (more…)
Recent Comments