Nahant Q3 2021 Market Report
Key Metrics
Single Family Homes (SFH)
The median price of the SFHs sold in Nahant in the first 9 months of 2021 (YTD 2021) increased 7% to $805,000 on about the normal small number of sales.
As the percentage of sales over $750,000 increased from 50% in YTD 2020 to 54% in 2021, so the median price moved from very close to $750,000 to over $800,000. Sales above $1 million went from 3 to 8, including 2 sales over $2 million and 1 over $3 million.
Small numbers can exaggerate percentages. 8 of the 24 SFH sales YTD 2021 were over List compared with 6 of 26 in 2020).
Condos
There were just 2 Condo sales YTD in 2021 – at $245,000 and $823,000.
Since 2017 there have been 18 Condo sales in total including sales in Edgehill (41 units) and Rockledge (11 units).
Comment
In the first 9 months of the year the median price of SFHs sold in Essex County increased 14.1% to $607,500, while the median Condo price increased 10.2% to $385,000. The median SFH price in Essex County declined from Q2 to Q3 (but not in Swampscott), while the median Condo price increased slightly. While quarter to quarter fluctuations are common, these numbers confirm the anecdotal reports that the frenetic activity earlier in the year eased somewhat in Q3.
After a short rally above 3% early in the year, the national average cost of a 30-year Fixed-Rate Mortgage (FRM) quickly dropped back below 3% before rallying back above 3% in October.
Source: MLSPIN, OliverReportsMA.com
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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 [email protected].
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . 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, Sale, Beverly, Lynn and Swampscott.”
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
[email protected]
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
[email protected]
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL