List of Properties Available for sale
New listings are seeing tremendous competition, and inventory is way down compared with a year ago. Buyers need to look at the list of all available properties as sometimes properties get overlooked for no obvious reason. Here is the summary of current inventory:
Click on these links for full details:
Marblehead SFHs For Sale
Marblehead Condos For Sale
Swampscott SFH For Sale
Swampscott Condos For Sale
Salem SFH For Sale
Salem Condos For Sale
Beverly SFHs For Sale
Beverly Condos For Sale
Lynn SFHs For Sale
Lynn Condos For Sale
Inventory chronically low; demand booming
Goodbye Boston, Hello Marblehead
Mortgage rates dip below 3% – where to next?
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Swampscott Condos For Sale
Latest list of properties for sale
With new listings seeing tremendous competition, buyers should also look at the list of all available properties as sometimes properties get overlooked for no obvious reason. Inventory, however, remains chronically low. Here is the summary:
Click on these links for full details:
Marblehead SFHs For Sale
Marblehead Condos For Sale
Swampscott SFH For Sale
Swampscott Condos For Sale
Salem SFH For Sale
Salem Condos For Sale
Beverly SFHs For Sale
Beverly Condos For Sale
Lynn SFHs For Sale
Lynn Condos For Sale
Inventory chronically low; demand booming
Goodbye Boston, Hello Marblehead
Mortgage rates dip below 3% – where to next?
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Swampscott Condos For Sale
Housing Inventory – what inventory?
The number of Single Family Homes (SFH) in Essex County receiving offers, while still down 10% from the 2019 number YTD, recovered strongly from May onwards, and then ran into supply problems in July (the numbers for July will be updated early next week and will increase slightly):
Single Family Homes
After years of decline, the number of SFHs for sale in Essex County on the first of the month compared with a year earlier (YOY) increased from August 2018 until June 2019. The decline then resumed, and has accelerated in 2020:
The next two charts (the first for January to June; the second July to December) show the number of SFHs for sale on the first of the month since 2017. In the first chart the numbers for 2020 YOY show the renewed decline (in 2019 inventory was increasing until June).
The second chart shows the decline YOY each month since July 2019.
Condos
The number of condos for sale increased YOY from June 2018 until August 2019, but since then there has been a consistent decline which has accelerated somewhat in 2020:
These two charts show numbers since 2017 for January to June, and July to December.
The first chart shows the decline in 2020 YOY, while in 2019 inventory was increasing in the first 6 months of the year.
The second chart shows inventory has been declining since October 2019.
Supply
Once again, the pattern of supply is consistent: very scarce at lower price levels and abundant at the top end:
Comment
The market in recent weeks has been characterised by the twin challenges of diminished inventory and increased demand, with buyers from Boston added to local demand, both aided by record low mortgage rates.
We are back to the most basic economic equation: when demand exceeds supply, prices rise. In housing, that often results in bidding wars, as we are seeing frequently now.
Goodbye Boston, Hello Marblehead
Mortgage rates dip below 3% – where to next?
“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, Sale, Beverly, Lynn and Swampscott.”
Andrew Oliver
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.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
List of currently available properties
With new listings seeing tremendous competition, buyers should also look at the list of all available properties as sometimes properties get overlooked for no apparent reason.
I am posting each week details of all houses and condos currently available for sale (and the links below continually update). Different arrangements are being made for viewing so please contact me to see what is possible. The market is very active at the moment with the number of Accepted Offers back to 2019’s level, despite the fact the inventory is down 35-40%.
Marblehead SFHs For Sale
Marblehead Condos For Sale
Swampscott SFH For Sale
Swampscott Condos For Sale
Salem SFHS For Sale
Salem Condos For Sale
Beverly SFHs For Sale
Beverly Condos For Sale
Lynn SFHs For Sale
Lynn Condos For Sale
Inventory chronically low; demand booming
Goodbye Boston, Hello Marblehead
Accepted Offers soaring and roaring
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Accepted Offers soaring and roaring
After the sharp drop in April, the number of Accepted Offers has come roaring back:
While June showed an increase, the number of Accepted Offers still shows a 14% decline for the year to date:
Traditionally, July 4th sees the start of a summer slowdown in home sales, in large part because buyers seek to move before the start of the new school year (which is getting earlier and earlier). But that seems likely to change this year as demand continues to be strong.
Goodbye Boston, Hello Marblehead
Inventory chronically low; demand booming
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Number of Accepted offers Soars
The number of Accepted offers for SFHs in Essex County soared last week by more than 30% compared with the same week last year. This continued the strong, recent trend:
To put this recent trend into perspective, let’s look at monthly figures for 2020 compared with 2019:
and finally the current inventory numbers:
Comment
There is a tremendous demand for properties currently, but it is worth noting that overall Offers are still down some 15% for the year. A reasonable guess is that the market will remain active longer into the summer this year.
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.OliverReports.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, Sale, Beverly, Lynn and Swampscott.”
Accepted Offers top year ago figure
The number of Accepted Offers (AO) for SFHs received in Essex County has continued to recover from the COVID-19 lows of April.
This is the chart I post each week showing the weekly numbers compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019. To make it easier to read I have started the chart at week 9 (March 6, 2020; March 8, 2019):
And this is the percentage change compared with the same week in 2019.
The spike in week 16 ( April 24) was a result of the timing of Holy Week, while the increase in week 21 (May 29) compared with a strangely low number in 2019. More relevantly, the improving trend is clear. A better indicator is that the average of the last 5 weeks of 168 is just 3% lower than the 174 in 2019.
And… look at this table:
Inventory is has been running 30-40% below last year’s numbers all year – yet the number of Accepted Offers recently has been quite close to last year’s levels,
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there, inventory remains low (read Inventory plummets while demand increases) and bidding wars are back in earnest. In fact, with inventory down nearly 40% YOY it is clear that properties are now selling more quickly than they were a year ago.
Thus buyers need to have all their ducks in a row – most importantly, a current pre-approval letter or proof of funds – before making an offer.
Also, bear in mind that some sellers – a diminishing number as confidence in the measures now in place for viewing become established- are requesting that their properties not be listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
Goodbye Boston, Hello Marblehead
Mortgage rates are rising – and that’s good news
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Accepted Offers remain strong
The number of Accepted Offers (AO) for SFHs received in Essex County last week continued to increase to another 2020 high of 184.
This is the chart I post each week showing the weekly numbers compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019. To make it easier to read I have started the chart at week 9 (March 6, 2020; March 8, 2019):
And this is the percentage change compared with the same week in 2019.
The spike in week 16 ( April 24) was a result of the timing of Holy Week, while the increase in week 21 (May 29) compared with a strangely low number in 2019. More relevantly, the improving trend is clear. A better indicator is that the 4-week average of 164 is just 5% lower than the 173 in 2019.
And… look at this table:
Inventory is down more than 40% from last year – and has been running 30-40% below last year’s numbers all year – yet the number of Accepted Offers recently has been quite close to last year’s levels,
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there, inventory remains low (read Inventory plummets while demand increases) and bidding wars are back in earnest. In fact, with inventory down 40% YOY it is clear that properties are now selling more quickly than they were a year ago.
Thus buyers need to have all their ducks in a row – most importantly, a current pre-approval letter or proof of funds – before making an offer.
Also, bear in mind that some sellers – a diminishing number as confidence in the measures now in place for viewing become established- are requesting that their properties not be listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
Goodbye Boston, Hello Marblehead
Mortgage rates are rising – and that’s good news
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Accepted Offers held back by shortage of inventory
The number of Accepted Offers (AO) for SFHs received in Essex County last week increased modestly to a 2020 high of 162.
This is the chart I post each week showing the weekly numbers compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019. To make it easier to read I have started the chart at week 9 (March 6, 2020; March 8, 2019):
And this is the percentage change compared with the same week in 2019.
The jump in week 16 ( April 24) was a result of the timing of Holy Week, while the increase in the last week compared with a strangely low number in 2019. More relevantly, the improving trend is clear. A better indicator is that the 3-week average of 157 is just 6% lower than the 67 in 2019.
And… look at this table:
Inventory is down more than 40% from last year – and has been running 30-40% below last year’s numbers all year – yet the number of Accepted Offers recently has been quite close to last year’s levels,
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there, inventory remains low (read Inventory plummets while demand increases) and bidding wars are back. In fact, with inventory down 40% YOY it is clear that properties are now selling more quickly than they were a year ago.
Thus buyers need to have all their ducks in line – most importantly, a current pre-approval letter – before considering making an offer.
Also, bear in mind that some sellers – a diminishing number as confidence in the measures now in place for viewing become established- are requesting that their properties not be listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
Goodbye Boston, Hello Marblehead
Mortgage rates hit all-time low – again
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Inventory plummets while demand increases
In summary, the number of Single Family Homes (SFH) receiving offers in the last three weeks has been nearly back to 2019 levels, while inventory is down 35-40%, indicating that homes are selling very quickly.
Single Family Homes
After years of decline, the number of SFHs for sale in Essex County on the first of the month compared with a year earlier (YOY) increased from August 2018 until June 2019. The decline then resumed, as this table shows:
The next two charts (the first for January to June; the second July to December) show the number of SFHs for sale on the first of the month since 2017. In the first chart the numbers for 2020 YOY show the renewed decline (in 2019 inventory was increasing until June).
The second chart shows the decline YOY each month from July to December in 2019.
Condos
The number of condos for sale increased YOY from June 2018 until August 2019, but since then there has been a decline:
These two charts show numbers since 2017 for January to June, and July to December.
The first chart shows the decline in 2020 YOY, while in 2019 inventory was increasing in the first 6 months of the year.
The second chart shows inventory continuing to increase in 2019 YOY in July and August, steadying in September, and then resuming the decline in October.
Supply
Once again, the pattern of supply is consistent: very scarce at lower price levels and abundant at the top end:
Comment
Housing statistics for properties sold are a rear-view mirror, telling us what happened 6-8 weeks earlier.
For relevant statistics about the current level of market activity I look at both inventory (which I report monthly in this article) and the number of houses receiving Accepted Offers week by week, a number I report at the beginning of the week for the prior week. (Here is a link to the most recent report Accepted Offers held back by shortage of inventory).
After dropping by 50% YoY in early April, the number of Accepted Offers is now running close to 2019 levels. We are seeing increased demand from people wanting to move out of Boston in addition to the demand that was already there. There is a new protocol in place for buying and selling properties, one with which both sides are increasingly comfortable with.
Goodbye Boston, Hello Marblehead
Mortgage rates hit all-time low – again
“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, Sale, Beverly, Lynn and Swampscott.”
Andrew Oliver
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205
www.OliverReports.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
Accepted Offers remain high despite low Inventory
The number of Accepted Offers (AO) for SFHs received in Essex County last week increased modestly to a 2020 high of 159.
This is the chart I post each week showing the weekly numbers compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019. To make it easier to read I have started the chart at week 9 (March 6, 2020; March 8, 2019):
And this is the percentage change compared with the same week in 2019.
Ignoring the spike in week 16 as a result of the timing of Holy Week, the trend shows that the percentage decline slowed from around 50% to under 10% before increasing to 20% last week. Note, however, that the corresponding week in 2019 saw a spike compared with the weeks before and after it.
And… look at this table:
Inventory is down more than 40% from last year – and has been running 30-40% below last year’s numbers all year – yet the number of Accepted Offers recently has been quite close to last year’s levels,
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there, inventory remains low and bidding wars are back. In fact, with inventory down 40% YOY it is clear that properties are now selling more quickly than they were a year ago. Thus buyers need to have all their ducks in line – most importantly, a current pre-approval letter – before considering making an offer.
Also, bear in mind that some sellers – a diminishing number as confidence in the measures now in place for viewing become established- are requesting that their properties not be listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
Goodbye Boston, Hello Marblehead
“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, Sale, Beverly, Lynn and Swampscott.”
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.OliverReports.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
Accepted Offers jump to 2020 high
The number of Accepted Offers (AO) for SFHs received in Essex County in the latest week jumped sharply to 151, compared with the prior high for 2020 in March of 125 and more than double the number of early April.
This is the chart I post each week showing the weekly numbers compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019:
And this is the percentage change compared with the same week in 2019.
Ignoring the spike in week 16 as a result of the timing of Holy Week, the trend is clear as the percentage decline has slowed from around 50% to under 10%.
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there, inventory remains low and bidding wars are back.
Also, bear in mind that some sellers are requesting that their properties not be listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
*Numbers in this report were updated on May 20
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.OliverReports.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
The number of Accepted Offers is increasing
While still running well below the levels of last year (see chart below), the number of Accepted Offers (AO) for SFHs received in Essex County in the latest week shows increasing activity. In fact the number of AOs (with the probability that a few more will be reported tomorrow) last week was close to the number back in March when active\ivity was strong.
This is the chart I post each week showing the Year-on-Year increase compared with 2019. Note that Holy Week was week 14 in 2020 and week 16 in 2019:
And this is the percentage change compared with the same week in 2019.
Ignoring the spike in week 16 as a result of the timing of Holy Week, the improving trend is clear as the percentage decline has slowed from around 50% to just over 30%.
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there and inventory remains low. Also, bear in mind that some sellers are requesting that their properties are not listed in MLS, so if you are checking on Zillow you might not be seeing all that is available.: you need to speak to a real estate agent.
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.OliverReports.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
Accepted offers are plateauing
The number of Accepted Offers for SFHs received in Essex County in the latest week suggests that sales activity is reasonably steady, averaging 84 per week over the last 5 weeks, which is 40-50% below last year’s levels::
This is the chart I post each week showing the Year-on-Year increase compared with 2019. Note that Holy Week was week 14 in 2010 and week 16 in 2019:
Comment
The real estate industry – professionals involved in transactions, as well as buyer and sellers – has adapted to the COVID-19 world. Buyers are out there and inventory remains low as some sellers delay listing.
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.OliverReports.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
The ever shrinking Housing Inventory
Single Family Homes (SFH)
After years of decline, the number of Single Family Homes (SFH) for sale in Essex County on the first of the month compared with a year earlier (YOY) increased from August 2018 until June 2019. The decline then resumed, as this table shows:
The next two charts (the first for January to June; the second July to December) show the number of SFHs for sale on the first of the month since 2017. In the first chart the numbers for 2020 YOY show the renewed decline (in 2019 inventory was increasing until June).
Recent Comments