Essex County Housing Market Q1 2021 Review

  • The median price of Single-Family Homes (SFH) sold in Q1 2021increased 11% to $550,000 from Q1 2020,  but was in line with the $555,000 in the second half of the year 2020.
  • Every one of the 34 cities and towns in Essex County saw Year-on-Year (YOY) increases in the median selling price; only 6 of the 34 cities and towns recorded a median SFH price under $500,000, while 3 saw that figure exceed $1 million.
  • Numbers in any Q, especially Q1, need to be treated with caution: some of the largest apparent increases in median prices occurred on a small number of sales.
  • The Condo median sales price increased 9.9% to $365,000. In Boston, the median price was very similar to the levels of the last 3 years, during which time the Essex County Condo median price has increased some 20%.

 

Essex County Housing Market

For a more detailed report on the market in Q1 go to Team Harborside’s website and read: Essex County Q1 Market Review (more…)

New Listings mid-week April 14

A modest number of New Listings this week:

New Listings>

Click on these links for details: (more…)

2020 Market Reports: Town by Town Reviews

Market Reports for all 34 cities and towns in Essex County are now available on the website.

This is the link to that page: 2020 Market Reports by Town (more…)

2020: The Top End comes Roaring Back

One of the surprise of the last 2-3 years – to me at least – has been that there has not been more activity in the top end of the market, even as activity increased at lower levels. But that changed in 2020.
Let’s look at sales by price point:

The number of sales over $1 million increased 39% from 353 to 489:

Million dollar sales

The number of sales over $2 million increased to 60 compared with the prior high of 51

Million dollar sales

 

Sales over $3 million doubled from 10 in 2019 to 21 in 2021, passing the prior peak of 18 in 2007:

Million dollar sales

And there was a rebound in sales over $4 million to 12, also passing the prior 2007 peak of 11.

 

Million dollar sales

These charts support what one would normally expect in a rising market – an increase in top-end sales. It took a COVID-inspired exodus from cities to achieve it on this occasion.

Mortgage Rates are Rising
How Marblehead’s 2021 Property Tax Rate is Calculated
Essex County 2021 Residential Property Tax Rates: a Town by Town guide
Conforming Mortgage Loan Limits raised for 2021

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.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

Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®

Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.MarbleheadSouth.com

“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.”

Essex County Q3 Housing Market Report

[Click here to download a copy of this report]

Single Family Homes (SFH)
The median price of SFHs sold in the first 9 months of 2020 (YTD Q3) jumped 11.8% to $532,500, comfortable breaking through the $500,000 level for the first time. Every one of the 34 cities and towns saw a Year on Year increase. Most of the sales decline occurred in the COVID-19 impacted Q2. The median Days to Offer (DTO) was just 10 days. (more…)