Boston condo boom: some signs of life at top end in Marblehead

From time to time I have reported, as in Boston 77 Marblehead 1, on the booming market at the higher end in Boston and contrasted it with the slow pace of sales at the upper end on the North Shore and in Marblehead in particular.

In this excellent Boston condo sales Bates on the Market (www.curbed.boston.com) article I came across this chart of condo sales in Boston since 2009:

Source: boston.curbed.com

Even more startling is the percentage increase in sales at different price levels:

While I understand the argument about the reurbanization of America, and comprehend that young people want to work and live in cities, I still have a hard time believing that a family with children would choose to live in a high rise condo when for the same money they could own a waterfront property in Marblehead!

So what is happening up here at the higher end? Here’s a table showing sales YTD above $1.5 million and also pending sales:

Source: MLS, Oliver Reports

Those 4 pending sales in Marblehead have list prices of just under $2 million, $2.9 million, $3.9 million and $4.4 million.

The higher end is still slow, but it is showing a pulse.

Here’s to 2014.

If you are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 781.631.1223 or andrew@HarborsideRealty.com.

Andrew Oliver is a Realtor with Harborside Realty in Marblehead.