Open Houses January 3
Today’s Open Houses:
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House
Lynn Open Houses
And a look at inventory compared with a year ago:
How Marblehead’s 2021 Property Tax Rate is Calculated
Marblehead record $7 million sale
Essex County 2021 Property Tax Rates: Town by Town guide
“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®
Licensed Sales Agent in Florida
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, Salem, Beverly, Lynn and Swampscott.”
New Listings may necessitate call for Roget
Unless the situation changes soon I shall have to consult Roget for synonyms for “handful” and “smattering.” Meanwhile, there is a smattering of New Listings in a market with just a handful of inventory.
Click on these links for the New Listings:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
These tables show that inventory is greatly reduced from a year ago, when levels were already low:
And read these recent articles:
Marblehead record $7 million sale
How Marblehead’s 2021 Property Tax Rate is Calculated
Conforming Mortgage Loan Limits raised for 2021
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].
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . 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
So long, farewell, Auf Wiedersehen, goodbye to 2020
As we mourn the 338,656 Americans and 1,792,581 people worldwide who have died so far, we also look forward to 2021 with hope as people start to receive a vaccine.
And as we turn the calendar on 2020, let us give thanks to those who kept the real estate industry working. Quite quickly, buyers and sellers adjusted to the new way of doing business. Professional photography and videography have facilitated transactions sight unseen – physicilly, that is.
But there have been many professionals who have worked to develop new protocols. This list will inevitably be unintentionally incomplete, but gratitude is expressed to everybody who has been involved.
So here is a list of at least some of those who have made 2020 a record year for the industry in many places:
– Office brokers who worked together to develop new protocols
– Agents who handled the new ways of holding Open Houses
– Appraisers
– Home Inspectors
– Mortgage Lenders
– Attorneys
– Moving Companies
– Electricians and Plumbers
– Contractors and Handymen
– Painted and Decorators
– Photographers and Videographers
– Online documents signing companies
And, of course, buyers and sellers.
To all of you – thank you.
So long, farewell, Auf Wiedersehen, goodbye to 2020. Roll on 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
Licensed Sales Agent in Florida
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, Salem, Beverly, Lynn and Swampscott.”
New Listings week ending December 18
Very few New Listings again this week and very little inventory:
Click on these links for the New Listings: (more…)
Marblehead record $7 million sale
Prior to 2020 there had been just 5 MLS sales over $5 million in the history of Marblehead, and the highest price recorded was a non-MLS sale at $6.7 million in 2008. (more…)
What is the connection between airlines and real estate?
My guess is you are thinking either (a) you get on a plane to visit your winter residence, or (b) none.
Read on to find out why neither answer is right. (more…)
What are the lessons of low inventory?
First of all, how low is low? Let’s look at current inventory by price:
It is staggering to think that in a town like Marblehead, with over 6,250 Single Family Homes, there are just 12 currently for sale. It is a seasonally low period, but the average in the last 5 years has been almost 4 times as many.
What messages can we draw from this? Here are a few thoughts: (more…)
How Marblehead’s 2021 Property Tax Rate is Calculated
This article, which explains how the tax rate is calculated, is a follow up to Marblehead’s 2021 Property Tax Rate
The formula is actually very simple: take the $ amount of the previous year’s Tax Levy, add 2.5% for Proposition 2 1/2, and also add any New Growth (such as new construction or a condo conversion). This figure is the new tax levy. To this figure is added debt service – the Principal and Interest payable on the town’s debt. – to produce the new Tax Levy.
Here are the numbers for Fiscal Years 2020 and 2021, remembering that FY 2021 runs from July 2020 to June 2021. (more…)
Why doesn’t Facebook like me?
Recently I tried to advertise the following post on Facebook:
“The Election, more COVID-19 restrictions, Thanksgiving less than two weeks ago, Hanukkah starts on December 10 and Christmas is two weeks later.
All these are reasons not to sell right now but wait for the New Year – boy, aren’t we all waiting for and looking forward to the end of 2020!
But I would like to suggest that, in fact, this is a great time to sell. Inventory is remarkably low – read Does nobody want to leave Marblehead? (more…)
Does nobody want to leave Marblehead?
Marblehead has a population of around 20,000 and more than 6,250 Single Family Homes (SFH).
In a normal year perhaps 250-300 of these change hands, which is a remarkably low number. Once people move to Marblehead they are very reluctant to leave! And that was true even before COVID-19.
Everybody has heard how low inventory is, but how low is very low?I looked at the inventory of SFHs for sale on this date for the last 20 years. (more…)
Why now is a GREAT time to sell
The election, more COVID restrictions, Thanksgiving less than two weeks ago, Hanukkah starts on December 10 and Christmas is two weeks later.
All these are reasons not to sell right now but wait for the New Year – boy, aren’t we all waiting for and looking forward to the end of 2020!
But I would like to suggest that, in fact, this is a great time to sell. Inventory is remarkably low – read Does nobody want to leave Marblehead? (more…)
New Listings mid-week November 11
These are the latest New Listings, slowed by new COVID-19 restrictions and the calendar: (more…)
Market still active while inventory remains low
The number of Single Family Homes (SFH) in Essex County receiving offers recovered strongly from May onwards, and for the last several months has been ahead of 2019. YTD numbers are now slightly ahead of 2019 levels. The numbers would have been even stronger in recent months but for the chronic shortage of supply.
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 2018. In the first chart the numbers for 2020 YOY show the renewed decline (in 2019 inventory was increasing in the first 6 months of the year).
The second chart shows the decline YOY each month since July 2019 (note the decline both from 2018 to 2019 and again, much sharper, from 2019 to 2020).
Condos
The number of condos for sale increased YOY from June 2018 until August 2019, but since then there has been a decline which has accelerated somewhat in 2020:
These two charts show numbers since 2018 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, with the rate of decline accelerating in 2020..
Supply
While the overall inventory of 1 month of supply remains well below the 6 months traditionally regarded as representing a market in equilibrium. While supply as usual becomes freer the higher the price bracket, it is notable that it does not exceed the traditional gauge of a market in equilibrium – 6 months of supply – until prices reach $2 million.
Comment
The market in recent months has been characterised by the twin challenges of reduced inventory and increased demand, with buyers from Boston adding to local demand; and 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?
Lies, Damned Lies and Statistics: Q3 GDP growth
“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
8 Habits for a Clean Home
From Vibrant Living:
1. Make the bed right away, every day
2. Move appliances off the kitchen counter
3. Wipe down the bathroom sink before bed
4. Run the dishwasher each night
5. Have a dedicate spot for mail
6. Tidy up before bed each night
7. Clean up as you cook
8. Do a deep cleaning chore once a week
Well, that sounds easy. I’ll start…. tomorrow.
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, Salem, Beverly, Lynn and Swampscott.”
“Some people use stats the way a drunk uses a lamppost: for support rather than for illumination”
New Listings week ending November 6
The election, new COVID-19 restrictions and the holidays combined to produce just a small number of New Listings this week. See below to see how low supply is for the towns, while demand remains strong. (more…)
Recent Comments