What does $4 million buy in and around Boston?
A prospective buyer looked at a $4 million listing in Marblehead recently and commented: “this house would sell for $18 million in the Hamptons.”
Well we’re not in the Hamptons, Dorothy, but it was an interesting comment and led me to look at what a paltry $4 million would buy today in different areas in and around Boston. The table below is in four sections: the North Shore, towns close to Boston, and then Boston SFHS and Boston condos: (more…)
Beverly, Salem and Swampscott Housing Market Reports
In the world of small numbers it is necessary to be cautious about drawing too many conclusions. That is why, for example, I am not including percentage changes for the tables below. The message I take from these numbers is that, in general, the market continues to progress in an orderly manner. (more…)
Marblehead First Quarter Housing Market
It’s over. We survived. Hallelujah!
So how was the housing market in Marblehead? First Single family Homes (SFHs):
Source: MLS, Oliver Reports
Wait a minute. The median price dropped almost $50,000? What’s going on? (more…)
Which matters more – home sales numbers or price?
No, no, it’s not a trick question.
I am also intrigued when I hear or read of a report on commentary about the real estate market which leads with sales numbers. I suspect – usually correctly – that such a report comes from a Realtors’ association. I mean, how many houses does the average home buyer buy or sell in a month, or a quarter, or a year. Quite. (more…)
Why we don’t all move to San Francisco
After this winter we’re all planning to move to a warmer climate right? Like San Francisco.
But no, we will stay here, at least most of us will. Buy why? (more…)
Seasonal ideas for saving energy
Here are some Seasonal energy tips from Mass Save.
Note that whatever the calendar may say this article starts with winter. (more…)
Which broker should sell my house?
You’ve decided to sell your house. The big question is: which broker should you hire to sell it? And how do you make that decision? (more…)
Will snow removal costs increase my property taxes?
What happens when snow removal costs exceed budget? Who pays? When?
Source: National Weather Service
In simple terms, any snow removal costs beyond those budgeted for the current year have to be approved locally, and then the excess costs, net of any reimbursements, are added to the expenses in the following year’s budget. (more…)
Housing inventory: how low can it go?
A recent Boston Globe article Snow delays spring market highlighted the lack of inventory in the, you know, “important” markets such as Cambridge and Somerville.
We know inventory is down from last year, when if you remember we had the polar vortex, but where do we stand, here in Essex County and indeed throughout Massachusetts, compared with the last several years? (more…)
Last appeal of new Salem Power Plant withdrawn
Opponents of the new natural gas power plant have withdrawn their last appeal “putting an end to three years of legal objections to the project”, according to this Salem News article.
The new plant is scheduled to come online by June 2017, while the second phase of demolition at the old coal plant will take place this spring together with further site remediation. (more…)
How much business has been lost to the weather?
Anecdotally, we know that small businesses have been affected by this winter’s weather but now we know by how much following a survey by the Retailers Association of Massachusetts.
The main points are:
– overall sales fell 24% with a 7% drop in payroll
– restaurant sales fell 49% with a 14% drop in payroll
While it is tempting to buy everything from Amazon when the weather outside is foul, when the weather improves we should all make a point to SHOP LOCALLY! (more…)
Essex County Housing Inventory by town
Here is a town by town breakdown of inventory compared with a year ago.
Source: MLS, Oliver Reports
Essex County Housing Inventory at low levels
Low inventory has, rightly, been cited as a factor frustrating many would-be home buyers. But how low is inventory currently?
Here is the answer, comparing today’s supply with that a year ago, for Essex County, first for Single Family Homes (SFHs). To put these numbers into perspective, the total represents just over two months of sales based upon the last year. A market with six months of supply is generally regarded as one being in equilibrium between buyers and sellers.
Sales are, of course, lower in winter, but nevertheless these numbers suggest a severe shortage of homes for sale as we move towards spring. (more…)
The snow may disappear sooner than you think
On this morning of extreme cold, when we may fear that this winter will never end, there is good news from Boston.com’s excellent meteorologist David Epstein (@growingwisdom) in this When will we see bare ground? article. (more…)
The best and worst performing real estate markets
I have read a number of articles recently about the best and worst real estate markets but none of them mentioned Essex County. This article corrects that oversight.
The first table follows the pattern of many articles in looking at the extent of the recovery since 2009: (more…)
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