The median price of the SFHs sold in Marblehead in Q3 2024 was much lower than in Q2, but YTD the median price still rose. Sales declined in Q3 compared with 2023, but were also higher YTD.
The 33 Condos sold YTD were in a wide range – from $177,300 to $1.7 million.
44% of all sales were Over List Price in Q1,54% in Q2, and 56% in Q3.
The YTD numbers show that the median price of SFHs sold increased 9%, while that of Condos a little under 3%.
Price per Sq Ft (PSF) and Speed of Sales (Days to Offer Accepted – DTO)PSF is another way to look at sales. The Median Price per Sq.Ft. continued its ascent in 2024, while there was no slowdown in the pace of sales, as evidenced by DTO- Days To Offer – the number of days a property is on the market before an accepted offer is received.
Here are the Quarterly numbers:
Sales Mostly over List Price
The blue line in the table below represents the percentage of sales, for both SFHs and Condos, that took place over List Price – in the last 6 quarters it has been 40%, 62%, 63%, 51%, 44%, 54% and – in Q3 – 56%.
And read these recent articles:
The Federal Reserve’s Analysis Paralysis
July Housing Inventory and H1 Sales to List Price
My Property Tax reports mentioned at Town Meeting
Swampscott Q1 2024 Market Summary
Salem Q1 2024 Market Summary
Essex County Q1 2024 Market Summary
Why Mortgage Rates will fall in 2024
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].
Andrew Oliver, M.B.E.,M.B.A.
REALTOR®
m 617.834.8205
www.OliverReportsMA.com
““If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.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.”
“Thank you for the wonderful, wonderful job you do for the community (explanation of property tax process and calculation) – it is so helpful and so clearly explained.”
Licensed in Massachusetts with Stuart St.James
Licensed in Florida with Compass
www.OliverReportsFL.com