May Housing Inventory shows some improvement

There has been a sharp, seasonal increase in the number of properties for sale in the last two months, but this only brings the available inventory back to around last year’s levels and well below that of 2020:

Single Family Homes

Housing Inventory

 

Condos
The number of Condos available has also jumped, but in this case still remains below year ago levels:

(more…)

400 groups view $1 million property in 4 days

Are potential buyers suffering buyer fatigue and withdrawing from the search? Well, not according to this recent example where a staggering 400 groups viewed a $1 million listing in Wenham in 4 days.
The only reaction is…. wow! Wow indeed.

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

January Inventory – how low can you go?

After increasing somewhat – albeit from a very low base – in the first several months of 2021, the seasonal drop-off after October after was just as sharp as in prior years – and again this is a reduction from a low level. 2022 is starting off at a seemingly impossible even lower level.

Single Family Homes
The % decline is almost irrelevant. More relevant is the months of supply shown.

Inventory now has less than 1 months’ supply overall and is only over 1 month – but still far below the 6 months deemed to reflect a market in equilibrium – at prices over $1.5 million.

 

Condos (more…)