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.
February Inventory – Marco? Marco? Where are you?
There are 34 cities and towns in Essex County and, according to the 2019 US Census, some 202,000 owner-occupied housing units. As of February 1st there were just a combined 261 Single Family Homes and Condos available for sale – or 0.13% of the total.
Single Family Homes
Condos (more…)
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 [email protected].
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
[email protected]
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
[email protected]
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…)
New Listings and Inventory Update
Here are the latest New Listings (the state of inventory is shown later in this article).
Click these links for details: (more…)
Mid-week New Listings and Inventory Report
Here are the latest New Listings (a link to my report on the current state of inventory is shown later in this article):
Click these links for details: (more…)
How accurate are Zillow’s Zestimates?
During the pandemic-spurred housing boom, Zillow Offers emerged as a particularly aggressive iBuyer, or instant buyer, of homes in Sun Belt markets, offering homeowners more than the market value of their properties, with no catch. Zillow has now conceded that it has been paying too much for properties, even in a market characterized by soaring home values. Saying it had lost $1 billion on iBuying, Zillow has shut down its Zillow Offers unit.
“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility,” Chief Executive Rich Barton said.
Zillow used an algorithm to make home price estimates, called the “Zestimate,” and determine what it would pay home sellers.
Are Zestimates accurate?
Zestimates are somewhat like the National Hurricane Center’s projection for a hurricane’s path: both provide a single price or point, but those prices and points are actually the median of a range.
Here’s an example for a house: (more…)
Support the Fort (Sewall)
Preserving Fort Sewall – A Centennial Campaign Established in 1644, Marblehead’s Fort Sewall is one of the oldest English coastal fortifications in the United States, and is the second most visited spot in town according to surveys, with over 50,000 annual visits by residents and visitors. Known for many years as the Marblehead Fort or the Fort on Gale’s Head, it was renamed in 1800 to honor Marblehead’s Samuel Sewall, Massachusetts Supreme Judicial Court’s Chief Justice.
The Fort’s greatest historical moment was probably Sunday April 3, 1814 when the U.S.S. Constitution, being chased by two British frigates, escaped into Marblehead Harbor under the protection of the fort’s guns. Two Marblehead crewmen piloted the Constitution between Marblehead Rock and Marblehead Neck – thus escaping the British warships that lacked charts for the harbor’s underwater rock outcroppings. (more…)
Mid-week New Listings and Inventory Update
Here are the latest New Listings (a link to my report on the current state of inventory is shown later in this article):
Click these links for details: (more…)
Latest Housing Inventory
After increasing somewhat – albeit from a very low base – during 2021, the seasonal drop-off in late October has been just as sharp as in prior years – and again this is a reduction from a low level.
Single Family Homes
The November 1st SFH inventory number of 370 was a decline of 27% from 2020 and 65% compared with 2019:
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…)
New Listings and latest Inventory Report
Here are the latest New Listings (the state of inventory is shown later in this article):
>
Click these links for details: (more…)
>
Recent Comments